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BSX Approves Listing of Blue Danube Ltd Variable Rate Note Program And Principal At-Risk Variable Notes due April 10, 2015

12 April 2012

Hamilton, Bermuda: 12 April 2012 – The Listing Committee of the Bermuda Stock Exchange (BSX) today announced the approval of the listing of the Blue Danube Ltd. (the “Issuer”) Principal At-Risk Variable Rate Notes Program (“the Program”) effective as of 15 March 2012, and under the Program, the Blue Danube Ltd Series 2012-1 Class A Variable Rate Notes Due April 10, 2015 and the Blue Danube Ltd Series 2012-1 Class B Principal At-Risk Variable Rate Notes Due April 10, 2015 (“the Notes”); the approval for the Notes is effective as of the 3 April 2012, and issued pursuant to the Blue Danube Ltd. Principal At-Risk Variable Rate Note Program.

The amount of the Series 2012-1 Class A Principal At-Risk Variable Notes issued was $120,000,000 and the amount of the Series 2012-1 Class B Principal At-Risk Variable Notes issued was $120,000,000 and coming under the Exchange’s Restricted Marketing provisions for Qualified Investors and Section V of the BSX Listing Regulations pertaining to International Issuers of Insurance Related Securities.

The Issuer is a Bermuda exempted company and is owned by a Bermuda purpose trust. The Issuer was incorporated under the laws of Bermuda on February 9, 2012. As of the Initial Issuance Date, the Issuer will not be licensed as a special purpose insurer under the Bermuda Insurance Act 1978, as amended. The Issuer may in the future apply to obtain a license as a special purpose insurer under the laws of Bermuda. If the Issuer does obtain such license in Bermuda, the Issuer will not become a licensed insurance or reinsurance company in any state of the U.S. or in any jurisdiction other than Bermuda.

The Risk Transfer Contract Counterparty for the Notes will be Allianz Argos 14 GmbH a wholly-owned subsidiary of Allianz SE incorporated as a limited liability company under the laws of the Federal Republic of Germany and as specified in the applicable Offering Circular Supplement.

Appleby Securities (Bermuda) Ltd sponsored the listing of the Program and of the Notes and has also been appointed ongoing listing sponsor.

James McKirdy, Chief Compliance Officer of the BSX stated, “We are delighted to welcome Blue Danube Ltd. Principal At-Risk Variable Notes Program and Notes to the Official List of the BSX. The BSX Listing Regulations for International Issuers of Insurance Related Securities are specifically designed to facilitate the listing of this type of Program and Notes that are offered to institutional and sophisticated Qualified Investors”.

Mr. McKirdy continued, “This is yet another issuance of Notes that have taken advantage of the Exchange’s Listing Regulations for Insurance Related Securities and we are extremely pleased to be working with Blue Danube Ltd, Allianz SE, and Appleby Securities (Bermuda) Ltd.