New rates of Nykredit ARMs subject to annual refinancing on 1 April

Nykredit has finalised the auctions in connection with the interest rate
adjustment of Nykredit's adjustable-rate mortgages (ARMs) subject to annual
interest rate ad-justment on 1 April. 

The new cash loan rates of loans subject to interest rate adjustment based on
the refinancing principles "10-day average price" and "auction price" are
4.488% and 4.597%, respectively. For detailed auction results, please refer to
the attached appendices. 

Inquiries may be addressed to Henrik Hjortshøj-Nielsen, Executive Vice
President, Group Treasury, tel +45 44 55 10 40, or Nels Petersen, Head of
Corporate Communications, tel +45 44 55 14 70/+45 20 22 22 72.

Yours sincerely
Nykredit Realkredit A/S