Nykredit Group refinancing auctions October 2008

Nykredit offers DKK 1.9bn-worth of Aaa-rated DKK-denominated covered bonds
("særligt dækkede obligationer" - SDOs) in connection with the interest rate
ad-justment of Nykredit adjustable-rate mortgages subject to annual interest
rate ad-justment on 1 October. 

Offering and auction terms
The auctions take place from Monday 15 September to Friday 26 September this
year (both dates included). For the ISIN offered, please refer to Appendix 1,
while the specific times and terms of the different auctions appear from
Appendices 2 and 3. 

Questions regarding the bond sale as well as technical issues may be addressed
to Lars Kastrup Nielsen, Head of Trading, tel +45 44 55 11 66. 

Other inquiries may be addressed to Henrik Hjortshøj-Nielsen, Executive Vice
Presi-dent, 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