Nordea Kredit will launch a 30-year fixed-rate bond loan with an
interest-only period of up to 30 years on 11 October based on covered
mortgage bonds. Also, from 1 January 2008 all mortgage loans granted
by Nordea Kredit will be financed through covered mortgage bonds -
the only exception being variable-rate Euribor loans.

With an interest-only period of up to 30 years, homeowners are
offered even greater flexibility in their financial planning. At
present nine out of ten homeowners choose loans with fixed rates. Now
they can choose loans with fixed-rate loan payments and an
interest-only period beyond the previous ten years. And the loans
offer homeowners an even better opportunity for securing the equity
in their homes when refinancing.

- Our starting point is what our customers need. That's why our first
covered mortgage bond issue is a fixed-rate loan, which is the most
popular type of loan right now. It gives customers new opportunities,
but with the same simple and transparent cost and prepayment features
as our existing products, says Michael Rasmussen, Executive Vice
President.

As the new loans are callable, homeowners can always prepay their
loans at par or by buying the bonds in the market. Administration and
reserve fees match the standard rates.

The covered mortgage bonds are issued pursuant to the rules set out
in the Danish Act no 577 of 6 June 2007 and have a capital adequacy
weighting of 10 per cent for credit institutions etc.

The new fixed-rate loan will be launched as a block issue.

Nordea Kredit to launch variable-rate Euribor loan for commercial and
agricultural borrowers on 11 October
This Euribor issue is a variable-rate bond loan with quarterly reset
to the prevailing 3-month Euribor rate. The issue is targeted towards
commercial and agricultural borrowers.

The issue is based on mortgage bonds.

From 1 January 2008 all Nordea Kredit mortgage loans will be financed
through issuance of covered mortgage bonds - except variable-rate
Euribor loans
From 1 January 2008 all mortgage loans granted by Nordea Kredit will
be financed through issuance of covered mortgage bonds - the only
exception being variable-rate Euribor loans.

All open mortgage bond series will be closed for issuance by the end
of 2007 (except Euribor), ensuring a capital adequacy weighting of
10 per cent for credit institutions etc.

As the existing mortgage bond series are closed and new covered
mortgage bonds are issued, the number of security IDs will increase.
For certain security IDs this may create unfortunate lock-in effects
where it may prove difficult to buy the underlying bonds at
reasonable prices. To counter these effects Nordea Kredit will - if
necessary - consider the options provided by Danish legislation for
allowing prepayment of mortgage loans in other ways. The same will
apply to security IDs already closed.

Refinancing of adjustable-rate mortgages at 1 January 2008 by means
of covered bond issuance
Furthermore, Nordea Kredit expects to issue covered mortgage bonds
for the refinancing of its adjustable-rate mortgages at 1 January
2008.

New capital centre
In accordance with statutory provisions Nordea Kredit will issue
covered mortgage bonds from a new capital centre designated Capital
Centre 2.

Nordea Kredit has decided to apply the specific balance principle.

Rating
Standard & Poor's and Moody's Investors Service are expected to
announce that the covered mortgage bonds issued from Capital Centre 2
will be assigned ratings of AAA and Aaa, respectively.

For further information:
Michael Rasmussen, Executive Vice President, Chairman of the Board of
Directors of Nordea Kredit, +45 33 33 33 63
Claus Christensen, Chief Press Officer, +45 33 33 12 79