Expected offering at Nykredit and Totalkredit's refinancing auctions

The total bond offering at the Nykredit Group's refinancing auctions at
end-2010 amounts to DKK 156.8bn, of which the total bond offering covers DKK
79.5bn in DKK-denominated fixed-rate bullet bonds, DKK 44.2bn in
EUR-denominated fixed-rate bullet bonds and DKK 33.1bn in floating-rate bonds. 

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

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

For further information about the auction terms, please refer to the stock
exchange announcement dated 8 November and nykredit.com/ir. 

Questions regarding the bond sale as well as technical matters may be addressed
to Nykredit Realkredit A/S, Group Treasury, Lars Mossing Madsen, tel +45 44 55
11 66, Christian Mauritzen, tel +45 44 55 10 14, Pernille Bach Ladevig, tel +45
44 55 10 63 or Theis Ingerslev, tel +45 44 55 20 21. 

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.