Insiders' dealing, acquisition

Pursuant to section 28(a) of the Securities Trading Act Max Bank
A/S is to report the transactions in Max Bank A/S shares and    
connected securities of managerial staff and directors and      
connected persons.                                              

Name         Hans Fossing Nielsen     
Reason       Chairman                 
Issuer       Max Bank A/S             
ISIN code    DK0010305903             
Type         Shares                   
Transaction  Acquisition              
Trading date 22 October 2010          
Market       Copenhagen Stock Exchange
Number       486                      
Market price DKK 12.150               


Stock Exchange Announcement No. 43/2010