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Issue of new supplementary capital in Norwegian kroner  

Original announcement entitled "Danske Bank issues new supplementary capital in
Norwegian kroner".

December 10, 2003

Stock Exchange Announcement No 33/2003
Danske Bank has decided to issue a bond loan of NOK 500 million as supplementary capital. The loan will be issued in the European bond market and listed on the Luxembourg Stock Exchange.

The bond loan will be issued on 22 December 2003 and matures on 15 February 2014. The coupon prevailing until 15 February 2011 has been fixed at three-month NIBOR plus a margin of 0.47 percentage points and the issue price has been fixed at par.

From 15 February 2011, the coupon will be fixed at three-month NIBOR plus a margin of 1.97 percentage points. At the same time the Bank may call the issue at par.

The bonds are issued as part of the refinancing of the Bank's supplementary capital.