Amendment of the agreement with Totalkredit, and restructure of private banking activities.

The Copenhagen Stock Exchange                                     20 June 2007



Stock exchange statement                                                        


Amendment of the agreement with Totalkredit                                     
Restructure of Jyske Bank's private banking activities abroad                   



Amendment of the agreement with Totalkredit                                     

An amendment of our agreement with Totalkredit has just been adopted, which     
means that Jyske Bank has chosen the so-called 'set-off' model, which will      
affect Jyske Bank's accounts as from 30 June 2007.  The model was included as an
option in the original agreement made at the sale of Totalkredit to Nykredit in 
2003, but the option was not exercisable until now.                             

Our decision means that loans granted by Totalkredit and arranged by Jyske Bank 
will as a general rule be comprised by a defined right of set-off: Totalkredit  
can claim compensation from Jyske Bank for losses suffered on the loans referred
by the Bank. At the time of preparing individual loan offers, the extent of     
set-off for each loan will be fixed as the proportion of the loan over and above
60% of LTV. Jyske Bank receives a current commission for its obligations in     
accordance with the distribution of tasks between Totalkredit and Jyske Bank.   
Losses recorded for loans referred by Jyske Bank can be offset by Totalkredit   
against the future commission paid by Totalkredit to Jyske Bank, until fully    
compensated for.                                                                

Under the agreement, all Jyske Bank's guarantees against loss, amounting to     
about DKK 10bn, in favour of Totalkredit, become null and void.                 

Other things being equal, it means a rise of about 0.4 percentage point of Jyske
Bank's solvency ratio, and it puts a ceiling over the annual "loss" to the Bank,
should the losses recorded by Totalkredit exceed the commission payable over the
financial year on the portfolio of loans referred by Jyske Bank to Totalkredit. 
Jyske Bank receives just over DKK 100m annually from Totalkredit.               

In all other respects, the Bank's capital policy targets remain unchanged.      


Restructure of Jyske Bank's private banking activities abroad                   

With a view to optimising resources and capital, it has been decided to         
concentrate our efforts on fewer and more high-powered units to serve Jyske     
Bank's private banking clients abroad. The development towards improved means of
communication (including video communication which is a focus area) reduces the 
former need of being physically there.                                          

Against that background, Jyske Bank has decided to close down its branches in   
Warsaw, Poland and Fuengirola, Spain. Clients in those markets will in future be
served from Copenhagen and Gibraltar. Jyske Bank's international private banking
clients will subsequently be served from the units at Gibraltar, Zurich,        
Copenhagen, Cannes in France, and Weert in the Netherlands (Berben's            
Effectenkantoor).                                                               


Moreover, Jyske Bank is working with plans to serve new markets from the current
locations.                                                                      



Yours faithfully,                                                               


Anders Dam		Per Munkholm Poulsen