In connection with the publication of the bank's financial result for the third quarter of 2008, Fionia Bank disclosed additional requirements for provisions for the fourth quarter of 2008. Since then, Fionia Bank has continued working with reconstruction of the direct loans for the distressed market for property development and concurrently the bank has reassessed its commitments within property lending and the risk based on the current market conditions. Fionia Banks requirement for provisions for the fourth quarter of 2008 is calculated to DKK 575 - 675 million corresponding to a total requirement for provision for the full year of 2008 of DKK 1.1 - 1.2 billion. The additional provisions are primarily due to increased difficulties with the reconstruction of existing loans in the current markets conditions and are only to a minor extent a consequence of weak commitments. Total provisions for the property related loans and guaranties is DKK 914 million which amounts to 11.7% of property related loans and guaranties. As a result of the increased provisions approximately DKK 80 million of the accompanied earnings has been transferred to offsetting in the provisions. Costs for the national bank guarantee scheme are expected to amount to approximately DKK 22 million in 2008. The expected core result before provisions is therefore adjusted downwards from DKK 370-400 million to a level of DKK 300 million. The remaining core earnings are developing better than expected and trading income on fixed income products has shown a rising trend. The net profit on the banks trading portfolio as per the 30 November is DKK -67 million. The result includes DKK 73 million due to reclassification of a part of the trading portfolio to the investment portfolio. The reclassification is effective as from 1 July 2008 and involves a change of valuation of the relevant assets from market price to amortised cost price according to changes in IAS 39, approved by the EU. As of 30 November 2008 Fionia Bank's group capital adequacy ratio is 8.3% in accordance with the legislative requirement of 8%. The Board of Directors has approved the exploration of opportunities to raise new capital. The Board of Directors has started activities focusing on the bank's earnings and an adjustment of expenses. The result of these considerations is expected to be announced in January 2009. Please address any questions to this specific announcement to member of the Executive Board Henrik Borup Jeppesen, tel. +45 65204060. Yours sincerely Henrik Borup Jeppesen Member of the Executive Board Kaj Østergaard Mortensen Member of the Executive Board