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Danske Bank prepays bond loan

July 18, 2002

Stock Exchange announcement No. 23/2002

Danske Bank hereby announces that it exercises its option to prepay the following bond loan issued as supplementary capital in accordance with the terms and conditions for the bond loan:

Security code DK000341630-3, Bikuben, DKK506,250,000, 10.75% supplementary capital 1992/2005.

The bond loan will be prepaid at par on the next interest payment date, October 2, 2002. Repayment will take place through the Danish Securities Centre to the bond holders’ authorised institutions.