PRELIMINARY ANNOUNCEMENT OF FINANCIAL STATEMENTS FOR 2008 - THE NYKREDIT BANK GROUP

2008 - IN BRIEF

The Group recorded a loss before tax of DKK 295m compared with a profit of DKK
1,013m in 2007. 

Core income from business operations developed favourably, rising by DKK 568m
to DKK 2,192m, while earnings from own trading and value adjustment of
subordinate loan capital in Danish banks were negative. 

Commission expenses and provisions for guarantees resulting from participation
in the government guarantee scheme totalled DKK 137m. 

Impairment losses on loans and advances amounted to DKK 763m against an income
of DKK 14m in 2007. EBH-fonden and Dansk Pantebrevsbørs A/S (of which the Bank
owns 50%) contributed DKK 312m to the increase. Collective impairment
provisions went up by DKK 112m to DKK 123m. 

The balance sheet stood at DKK 194bn against DKK 135bn at end-2007.

Liquidity was satisfactory in 2008 and strengthened through the issuance of a
nominal amount of DKK 12.8bn under the Bank's EMTN programme and DKK 4.7bn
under the ECP programme. 

The Bank Group's capital adequacy ratio was 10.2% at end-2008 against 11.7% at
end-2007. 

Standard & Poor's has assigned Nykredit Bank A/S a short-term deposit rating of
A-1 and a long-term deposit rating of A+. 


The Annual Report of Nykredit Bank and the Nykredit Bank Group has been
published today at nykredit.com