European Equity MCA Depository Receipt Supplement Implementation Side Letter

(published January 31, 2008)

This side letter is designed to enable parties to implement the two depository receipt supplements to the 2002 ISDA Equity Derivatives Definitions that were published in 2007. The letter includes different annexes that may be included with the letter (as applicable) to implement the depository receipt supplements into various European equity derivatives master confirmation agreements. The letter provides standard fallbacks for selection of the 2007 Partial Lookthrough Depository Receipt Supplement or the 2007 Full Lookthrough Depository Receipt Supplement depending on the location of the underlying shares.

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