Nykredit Group refinancing auctions December 2007

For the period Monday 3 December to Tuesday 18 December 2007, the Nykredit
Group has scheduled a number of auctions in connection with the refinancing of
Nykredit's Tilpasningslån and Totalkredit's BoligXlån (ARMs). The bonds offered
as 
well as auction schedules, terms and further technical information appear from
the 
enclosed appendices.
Refinancing is generally based on Danish covered bonds (SDOs), but for certain
property categories in the commercial customers segment, refinancing is based on
mortgage bonds (ROs).
Nykredit will publish the expected offering in the individual ISINs on a current
basis.
Compared with preceding refinancing auctions, the following should be noted:
• The value date of trades concluded at the 10-day sale of SDOs scheduled
for 3-14 December is 2 January 2008. However, a reverse facility is offered
to auction participants who require the bonds after only three days.
• The 10-day sale of ROs scheduled for 3-14 December will take place by
ordinary tap issuance.
Questions regarding the bond sale as well as technical matters 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
President, 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.