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Danske Bank wins Hafnia case

June 28, 2002

Stock Exchange Announcement No 22/2002

On June 28, 2002, the Danish Supreme Court overturned the judgment passed by the Copenhagen Maritime and Commercial Court on September 2, 1999. Danske Bank is not therefore ordered to pay compensation in the actions brought against, among others, the Bank by two private investors following the issue of shares in Hafnia Holding in 1992.

This also means that the Bank will not pay compensation to investors to whom it has previously signed declarations lifting the time-bar applicable to claims in respect of the Hafnia issue.

- Obviously, we are satisfied with the Court’s conclusion in the judgment, says Peter Straarup, chief executive of Danske Bank.