Referring to the disclosure requirements for issuers of listed securities, please find enclosed a notice of the Annual General Meeting in Alm. Brand Bank A/S including agenda and the proposed resolutions set out verbatim to be held on 12 April 2007. Please direct any queries regarding this announcement to Henrik Nordam, Chief Executive, on tel. +45 35 47 48 49. Alm. Brand Bank A/S Notice of Annual General Meeting Pursuant to Article 7 of the Articles of Association, notice is hereby given that the Annual General Meeting will be held at 4 p.m. on Thursday, 12 April 2007, in Alm. Brand Huset, Midtermolen 7, DK-2100 Copenhagen Ø. Agenda: 1. Presentation of the annual report for adoption. 2. Resolution on the distribution of profit or covering of loss, as the case may be, in accordance with the adopted annual report. 3. Election of members to the Board of Directors, see Article 11. 4. Appointment of auditors. 5. Any other business. The agenda and the proposed resolutions set out verbatim as well as the annual report for 2006 will be available for inspection by the shareholders at the company's offices, Midtermolen 7, DK-2100 Copenhagen Ø, as from and including today. Copenhagen, 29 March 2007 The Board of Directors Annual General Meeting of Alm. Brand Bank A/S held at 4 p.m. on Thursday, 12 April 2007, in Alm. Brand Huset, Midtermolen 7, DK-2100 Copenhagen Ø. COMPLETE PROPOSALS from the Board of Directors to the Annual General Meeting Re agenda item 1: Presentation of the annual report for adoption The Board of Directors proposes that the annual report be adopted. Re agenda item 2: Resolution on the distribution of profit or covering of loss, as the case may be, in accordance with the adopted annual report. The Board of Directors proposes that the profit for the year be carried forward to next year. Re agenda item 3: Election of members to the Board of Directors, see Article 11 The Company's Board of Directors consists of four members elected by the shareholders in general meeting and two members elected by the employees. The members elected by the shareholders in general meeting are elected pursuant to Article 11 (2) of the Articles of Association for terms of one year, and they are eligible for re-election. No alternates are elected for such Board members. All Board members elected by the shareholders in general meeting are thus up for election, and they all offer themselves for re-election. The Board of Directors proposes that the following Board members be re-elected: Mr Christian N.B. Ulrich Mr Jørgen Hesselbjerg Mikkelsen Mr Christian Hjorth-Andersen Mr Søren Boe Mortensen Referring to section 49(6) of the Danish Public Companies Act, we have made information available about the above-mentioned four persons' other directorships in other Danish public limited companies in the overview of the Board of Directors' directorships in the company's 2006 annual report, to which we refer. Re agenda item 4: Appointment of auditors The Board of Directors proposes that Deloitte, Statsautoriseret Revisionsaktieselskab, be re-appointed. Re agenda item 5: Any other business There will be no business to be transacted under this item of the agenda which can be resolved by the General Meeting. Copenhagen, 29 March 2007 THE BOARD OF DIRECTORS