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Initial value for Danske Bank Råvarer Offensiv 2013

Company Announcement No 14/2010

Initial value for “Danske Bank Råvarer Offensiv 2013”

On May 10, 2010, Danske Bank issued commodity-linked notes related to the Dow Jones UBS index. The notes are designated “Danske Bank Råvarer Offensiv 2013” (ISIN DK0030240320).

Defined expressions and terms in the Applicable Final Terms dated May 7, 2010 have the same meaning in this company announcement.

In accordance with the Applicable Final Terms, Danske Bank as calculation agent deter-mined the initial index value, Index Initial, on May 10, 2010 to be 130.2348.

Additional information about the notes is available in the Applicable Final Terms, which together with the Base Prospectus specify the terms and conditions for the notes. The Ap-plicable Final Terms were published on the NASDAQ OMX Copenhagen A/S website on May 7, 2010.

Danske Bank A/S

Contact persons:
Cato Baldvinsson, Senior Vice President, tel.: +45 45 12 84 10
Peter Kjær Holm, Senior Vice President, tel.: +45 12 84 85