Nykredit has concluded the bond sale in connection with the interest rate adjustment of ARMs (Nykredit Tilpasningslån) according to the 10-Day Average Price principle. The interest rate of the ARMs will be adjusted on 1 April 2009. Since 2005 Nykredit has offered interest rate adjustment in April and October as a standard. The purpose of using April and October as times of interest rate adjustment is to spread a constantly increasing auction amount over the year to obtain the most favourable pricing, ensuring borrowers the lowest interest rates. The new cash loan rate is 3.344%. For detailed auction results, please refer to the attached appendix. Enquiries 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