Company Announcement No. 7, 2013 - Auction of mortgage covered bonds in Nordea Kredit Realkreditaktieselskab

With the refinancing of Nordea Kredit's adjustable rate mortgages (ARMs) as of 1
April 2013 an electronic auction will be held in February 2013.

The ARMs will be refinanced in covered mortgage bonds (SDRO). Nordea Bank
Danmark will conduct the auction.

The Auction   The auction will be held in the market for mortgage bonds at
              NASDAQ OMX Copenhagen.
              The Dutch (hidden call) auction principle will be applied,
              implying that where bids exceed the stop price, the full amount
              will be settled at the stop price. Bids made at the stop price
              may be allocated on a pro rata basis. There will be no allocation
              in respect of bids below the stop price.



Auction       Tuesday, 26 February, up to and including Thursday, 28 February
period        2013.


Amount        Final volumes offered and time schedule are expected to be
              announced in the week 6, 2013.


Bid/settleme  The auction of bonds will start at 10.00 and close at 11.00 and
nt            12.30. Allocation of accepted bids will be made at 11.10 and
              12.40. Bids in bonds with 1-year maturity denominated in DKK and
              EUR can be placed with 3 decimals. Bids in other auctioned bonds
              can be placed with 2 decimals only.


Settlement    2 April 2013.
date


Participant   Bids can be made by anyone with an access to the market for
              mortgage bonds at NASDAQ OMX Copenhagen.
              In case of technical problems, bids can be made to Nordea
              Markets. Contact persons are Michael Rosentoft phone no. +45 3333
              3864 and Kim Petersen phone no. +45 3333 1644.

For more detailed information please contact Nordea Group Funding, Peter Brag
phone no. +45 3333 1663 or Finn Nicolaisen phone no. +45 3333 1625.

Yours faithfully

Nordea Kredit Realkreditaktieselskab