Result of the auction of 4.50% 15/11 2039

| Source: Danmarks Nationalbank Danmarks Nationalbank 

Bids, sales and cut-off price are presented in the table below:

Stock 
exchange code          Bid
                       Mill.kr.
                       (nominal)     Sale     Cut-off price     Pro-rate
99 22320               55,160        10,440     98.50           100%
DGB 4.50 15/11/2039				

			
Settlement date: 21 November 2008.