Nykredit and Totalkredit's fixed bullet auctions in September 2010

Nykredit will hold covered bond auctions for DKK 47bn from Friday 3 September to
Friday 17 September 2010, both dates included. The auctions are conducted for
the purpose of refinancing Nykredit and Totalkredit's ARMs (Tilpasningslån and
BoligXlån). 

The auction schedule is provided below. Detailed information will be published
at a later date.

Auction schedule
The auctions will be held according to the following time schedule:

Auction type              Dates              Auction times

Interest rate             3 September -      1st auction: Bidding until
adjustment                9 September        10:30/allotment at 10:40 
based on                  and                2nd auction: Bidding until
10-day average            13 September -     11:30/allotment at 11:40  prices  
                          17 September 


Interest rate             10 September       1st auction: Bidding until 
adjustment                                   10:30/allotment at 10:40 
based on                                     2nd auction: Bidding until 
the auction price                            11:30/allotment at 11:40 principle 


Preliminary amounts
Nykredit expects to sell covered bonds (SDOs) for a total of DKK 47bn. The main
part will consist of 1-year SDOs. As in previous years, the auction amounts for
the refinancing will be affected by prepayments and refinancing changes.
Accordingly, the final amounts may differ from expected amounts. 

Expected auction amounts will be published at end-August. Subsequently, the
expected auction amounts will be updated on an ongoing basis at nykredit.com/ir.

Questions may be addressed to Lars Mossing Madsen, Head of Mortgage Finance, tel
+45 44 55 11 66, or Nels Petersen, Head of Corporate Communications, tel +45 44
55 14 70/+45 20 22 22 72.