English version of announcement number 21-2008 announced September 18, 2008, 09:08 AM

OMX The Nordic Exchange Copenhagen                                              
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                                                        Announcement No. 21-2008


18 September 2008                                                               



Record core earnings and modest impairments                                     

Solvency ratio and liquidity still satisfactory                                 

At an investor seminar in Copenhagen, arranged by FIH Capital Markets, Managing 
Director and Chief Executive of Amagerbanken, Mr. Knud Christensen will present 
the Bank's strategy, interim results, credit policies, etc.                     

At the same time Amagerbanken wishes to comply with the customers', the         
shareholders' and other's interest of the bank's present situation on the basis 
of the difficult market conditions in the banking sector.                       

Therefore, the Bank has chosen to publish updated information on the Bank's     
financial development and standing as well as the management's expectations for 
the Bank's performance and solvency.                                            

Core earnings for the first nine months of this year are expected to get higher 
than in the same period last year.  Last year earnings were higher than ever    
before, i.e. DKK 423m before impairments.                                       

In spite of the fine development in core earnings for the time being the Bank   
will not upward-adjust its expectations for core earnings for all year, as the  
banking sector is experiencing exceptional difficult market conditions. The Bank
maintains the previous published expectation of core earnings in the level DKK  
480 - 520m before impairments (2007: DKK 581m).                                 

On the basis of the fundamental economic outlook higher but still fairly modest 
impairments on loans and advances and guarantees are expected. As at 30         
September 2008 impairments (net) in the level of DKK 25m is awaited - equal to  
approx. 0.1% of the Bank's loans and advances and guarantees of a total of DKK  
27.5bn. Thus the Bank's accumulated depreciation and provisions ratio will be in
the order of 1.2%                                                               

Impairments are spread on minor commitments in a number of sectors. They concern
only to a very limited extent the much discussed property sector. Amagerbanken  
has decades of long experience as bank for property projects and property       
businesses. Due to this the Bank has avoided commitments with speculative       
persons and companies in the sector. According to the press these have applied  
for and achieved funding in other banks.                                        

Furthermore, Amagerbanken has not experienced appreciable loss on investment    
credits. The Bank has not financed customers' investments in the Bank's own     
shares.                                                                         

After impairments core earnings are presently expected to be at the same level  
as in the first nine months of the year as in the same period last year.        

On the assumption of unchanged bond and share prices for the rest of the current
quarter, the Bank's capital base is expected to amount to approx. DKK 3.8bn at  
the end of the quarter consisting of shareholder's equity capital of DKK 2.5bn  
and subordinated capital of DKK 1.3bn.                                          

At the end of the third quarter 2008 the Bank's solvency ratio is expected in   
the range of 12.3%, of which core capital amounts to approx. 8.4%               

The Bank's liquidity is stable and still satisfactory. The terms of the Bank's  
funding are characterized by the same difficult global market conditions which  
are also valid for other banks. However, in the present situation Amagerbanken  
benefits from a long-standing and mutual cooperation with a very broad number of
banks worldwide.                                                                

Amagerbanken's business franchise is unchanged to be a strong local, independent
and efficient bank, serving 120,000 retail customers and corporates in the area 
of Denmark's three largest cities, i.e. Copenhagen, Aarhus and Odense.          

For further information please be referred to the Bank's detailed interim report
of first half of 2008 which was published on 11 August 2008.                    

The Bank may direct your attention to the fact that expectations for the future 
involve a higher level of uncertainty than normally due to the current market   
conditions.                                                                     

Amagerbanken's report for the first nine months of 2008 is planned to be        
published on 12 November 2008.                                                  



                               Yours faithfully,                                

                            A M A G E R B A N K E N                             

                                Knud Christensen                                
                               Managing Director                                
                                      and                                       
                                Chief Executive