Nykredit Bank A/S - stock exchange announcement 0% NB GuldOlieDollar 2010

Nykredit Bank A/S closed the subscription for the bonds "0% NB GuldOlieDollar
2010" (ISIN DK0030087705) on 4 July 2008 as scheduled. The following amount was
subscribed for: 

        Nominal subscription amount:		DKK 44,903,000


The issue price had been fixed at DKK 105 in advance.

The final participation rate was determined at 140% on 7 July 2008, and
therefore the issue price exceeds the pre-determined minimum rate of 130%. The
participation rate was based on current market conditions and a funding rate of
3M Cibor + 0.30%. 

Nykredit Bank A/S issues 44,903 bonds equal to the nominal amount subscribed
for. 

The subscription amount meets the pre-determined minimum listing requirements,
and the bonds have been admitted for trading on the OMX Nordic Exchange
Copenhagen as from 14 July 2008. 

Nykredit Bank A/S is calculation agent in respect of the bonds. Based on prices
as at 7 July 2008 and in accordance with the published prospectus, the
inception values of the three assets forming part of the investment strategy
are as follows: 

       
Underlying asset	Value as at 7 July 2008

Oil (OIL - WTI - NYMEX):	141.37
Gold (GOLD - P.M Fix):	916.75
DKK/USD (ECB 37):	0.2099


Please note that some figures were incorrectly stated in the published
prospectus. According to page 4, the value of the zero-coupon bond was 89.56%
on 18 June 2008, and the value of the option was 8.90%. The correct value of
the zero-coupon bond was 88.56% and that of the option 13.35% (the option price
stated earlier multiplied by the expected participation rate of 150% as at 18
June 2008). 

Please address inquiries concerning this stock exchange announcement to Claus
Møller, First Vice President, Nykredit Bank A/S, Kalvebod Brygge 1-3, DK-1780
Copenhagen K, tel +45 44 55 12 90. 


Yours sincerely 
Nykredit Bank A/S