Expected offering at Nykredit's and Totalkredit's refinancing auctions

The expected offering at the Nykredit Group's refinancing auctions in December
amounts to DKK 110bn in DKK-denominated fixed-rate bullet bonds, EUR 6bn in
EUR-denominated fixed-rate bullet bonds and DKK 6bn in DKK-denominated
floating-rate bonds.

Please note that the fourth auction period on 4 December was used in the latest
auction schedule.

The updated expected amounts offered and the auction schedule appear from
Appendix 1.

Borrowers may refinance or prepay loans up to and including Monday 30 November
2009. Please note that the expected amounts offered may still change.

Every morning in the auction period, Nykredit will publish the individual ISINs
offered on that particular day at nykredit.com/ir.

For further information about the auction terms, please refer to the stock
exchange 
announcement dated 17 November and nykredit.com/ir. Questions regarding the
bond sales as well as technical issues may be addressed to Lars Mossing Madsen,
tel +45 44 55 11 66. Other enquiries 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.