Company Announcement No. 97, 2010, Auction of mortgage covered bonds in Nordea Kredit Realkreditaktieselskab

The refinancing of Nordea Kredit's adjustable rate mortgages at 1 January 2011
will be carried out by auction of mortgage covered bonds (SDRO).

The dates of the auction and the terms and conditions were published in a
company announcement to the NASDAQ OMX Copenhagen on 22 October 2010.

The auctions will take place in the period from 1 December to 10 December 2010.

The bonds are rated Aaa by Moody's and AAA by Standard & Poor's.

The auctions will open daily at 10:00 and close at 11:30 and 14:00, respectively
with allocation of accepted bids at 11:40 and 14:10, respectively.

The settlement date is 3 January 2011.

The auctions will be held as stated in the table on the next page, which also
lists estimated amounts. Nordea Kredit will publish the final volumes in a
company announcement 1 December 2010. Please note that the number of auctions
has been reduced compared to what was announced in the Company Announcement No.
89 of 22 October 2010.

A test auction will be held 22 November 2010 - please see details on page 3.

For more detailed information please contact Nordea Group Funding, Kamilla
Skytte on phone no. +45 33 33 1626 or Peter Brag on phone no. +45 3333 1663.

Yours faithfully

Nordea Kredit Realkreditaktieselskab



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