Amendment to “Preliminary Final
Terms” for DB Norden 2015

February 17, 2011

Company Announcement No 4/2011

Danske Bank issues notes linked to a basket of 10 Nordic shares

On 19 January 2011, Danske Bank announced that it had decided to issue structured notes to be redeemed at a price reflecting the performance of a basket of ten Nordic shares. The notes are designated “DB Norden 2015” (ISIN DK0030271630).

The “Preliminary Final Terms” state that Danske Bank is rated Aa3 by Moody’s. On 16 February 2011, Moody’s downgraded Danske Bank to A1.

As a result of this downgrade, Danske Bank republishes the “Preliminary Final Terms”, stating the new rating, and extends the period for cancellation of subscription orders already placed until 21 February 2011 (this day included).

For further information about this issue, we refer to the ”Preliminary Final Terms”.

Danske Bank A/S

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Peter Holm, Senior Vice President, +45 45 12 84 85

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