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Company Circular No:LCH.Clearnet Ltd Circular No 3239
Service Circular No:RepoClear No 197
Date:21 December 2012
To:All RepoClear Clearing Members

Fixed Income Default Fund Phase 2: Ballot Result Announcement

In circular 3228 dated 23 November 2012, we announced the commencement of a RepoClear member ballot to introduce a Service Closure phase and absolute cap to the size of the Default Fund for the RepoClear service.

We are now very pleased to announce that the ballot has been successful with 81%* of RepoClear Clearing Members voting and 98%* of those who did, voting in favour. Please accept our thanks for your support.

Should you have any questions please e-mail RepoClear.Restrike@lchclearnet.com.

*Rounded to the nearest whole number