Sydbank's Q1-Q3 2007 Report

Very satisfactory core earnings
Sydbank recorded a pre-tax profit of DKK 1,620m for the first nine months of
2007 - an increase of DKK 135m compared with Q1-Q3 2006. The result equals a
return of 35% p.a. on average shareholders' equity (Tier 1). 

Core earnings before impairment have improved by DKK 189m to DKK 1,357m. The
increase is mainly ascribable to continued growth in loans and advances and
income from interest margins. Moreover, trading income has risen by 15%. 

Also, an impairment loss of DKK 357m on loans and advances has been reversed
and recognised in the income statement. Core earnings represent DKK 1,714m. 
 
Loss on investment portfolios amounts to DKK 149m. Moreover an extraordinary
gain on the sale of non-current assets makes up DKK 55m. 

Post-tax profit represents DKK 1,233m, equal to a return of 26% p.a. on average
shareholders' equity (Tier 1). Earnings per share for the period have gone up
by 13% from DKK 16.1 to DKK 18.2.	 

As a whole performance and business developments are considered very
satisfactory. 

2007 core earnings outlook raised by DKK 100m
On the basis of realized core earnings in Q1-Q3 as well as current business and
earnings developments, core earnings for 2007 are forecast to make up around
DKK 2.1-2.3bn. At the release of the Bank's 2007 Interim Report core earnings
for the year were projected to represent around DKK 2.0-2.2bn. 
Yours faithfully
Carsten Andersen
Group Chief Executive

Enquiries concerning this Announcement to 
Carsten Andersen, Group Chief Executive, tel +45 74 36 20 00
Mogens Asmund, Group Executive Vice President, tel +45 74 36 20 50