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Share repurchase programme

June 4, 2004

Stock Exchange Announcement No 11/2004
In its Financial results 2003, Danske Bank stated its intention to repurchase own shares corresponding to a market value of DKr3bn. The share repurchase programme was planned for the first half of 2004.

To date, the Bank has bought back 12,389,768 shares in 2004 at a market value of DKr1,739,919,951.

Danske Bank’s total holdings of own shares now comprise 67,567,047 shares. This amount includes trading portfolio, pooled investments, holdings in the Danica group and shares received as collateral. It also includes a total of 39,410,097 shares bought back in 2003 at a market value of DKr5bn, which – according to the resolution of the general meeting in March 2004 – are expected to be cancelled by insertion of a notice in the Danish Official Gazette at the end of June 2004.

According to the provisions of section 48 of the Danish Companies Act, total holdings, made up as stated, may constitute up to 10% of the shares issued, or 71,167,585 shares. Against this background, the Bank will extend the repurchase period until 15 July 2004.