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

The expected offering at the Nykredit Group's refinancing auctions in March
amounts to DKK 46bn in DKK-denominated fixed-rate bullet bonds and EUR 1bn in
EUR-denominated fixed-rate bullet bonds.

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

Borrowers may refinance or prepay loans up to and including today. 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 February and nykredit.com/ir.

Questions regarding the bond sales as well as technical issues may be 
addressed to Christian Mauritzen, tel +45 44 55 10 14 or Lars Mossing Madsen, 
tel +45 44 55 11 66.