To test systems and settlement procedures, Nykredit will conduct test auctions on Monday 22 November 2010 through NASDAQ OMX Copenhagen A/S's submarket for mortgage bond issuers subject to long settlement (order book ID: ILS, submarket: 61 - OMX CPH FI Issuer for Mortgage Bonds LS). The test auctions will be held with 3 January 2011 as value date, and bids will be accepted correct to three decimals at the auctions. The following covered bonds (SDO) will be offered: ------------------------------------------------------------------------------- ISIN: Name: Currency: Offer: DK000976725-3 4% Nykredit 12E SDO B nc jan 2012 DKK DKK 50m LU054178476-4 1% Nykredit 12E B janclu 2012 EUR EUR 10m ------------------------------------------------------------------------------- 10:00 - Auctions open for bidding. 10:30 - Auctions close. 10:40 - Allotment of accepted bids. If you are interested in participating in the test auctions, please contact Nykredit Realkredit A/S, Group Treasury, Lars Mossing Madsen, tel +45 44 55 11 66, Christian Mauritzen, tel +45 44 55 10 14, Pernille Bach Ladevig, tel +45 44 55 10 63 or Theis Ingerslev, tel +45 44 55 20 21. Other inquiries 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.