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Danske Bank issues new supplementary capital in euros

October 31, 2002

Stock Exchange announcement No. 32/2002

Danske Bank has decided to issue a bond loan of €500 million (approx. DKr3.7 billion) as supplementary capital. The loan will be issued in the European bond market and listed on the Luxembourg Stock Exchange.

The bond loan has a maturity of 10 years. The coupon prevailing until November 12, 2009 has been fixed at 5.125% p.a. with annual interest payments. The issue price has been fixed at 99.397%.

From November 12, 2009, the loan will be subject to a variable rate and the coupon will be fixed at the three-month EURIBOR plus a margin of 2.30 percentage points. At the same time the Bank may call the issue at par.

The new bond loan will fund part of the Group’s existing supplementary capital.