Moody's is reducing its requirement to BRFkredit's over-collateralisation

To NASDAQ OMX Copenhagen and the press
9 December, 2010
Announcement no 112/2010
 			 

						                                                                          


Moody's is reducing its requirement to BRFkredit's over-collateralisation       

The rating agency Moody's Investors Service has reduced its requirement to      
BRFkredit's over-collateralisation from 13.5 percent to 9.5 percent on          
BRFkredit's Capital Centre E. The reduction of the capital requirement has no   
effect on the previously assigned Aa1 rating of Capital Centre E.               

The reduced requirement is primarily due to an improvement of the credit quality
in Capital Centre E, i.e. decreasing levels of arrears, decreasing LTVs etc     
which among other things are a consequence of the credit related initiatives    
BRFkredit has implemented since the middle of 2009.                             

In this connection, CEO Sven A Blomberg says:                                   

We are satisfied that Moody's has reduced the capital requirement by            
approximately DKK 4 billion. However, the new requirement still reflects a very 
high level of security for BRFkredit's investors as Moody's capital requirement 
to Capital Centre E amounts to approximately DKK 10 billion which is three times
as much as the capital requirement stated by the regulatory requirements.       

For additional information, please contact:                                     
Sven A Blomberg, CEO - direct phone (+45) 45 26 25 00                           

Carsten Tirsbæk Madsen, Executive Vice President - direct phone (+45) 45 26 28  
71                                                                              



Yours sincerely,                                                                

BRFkredit a/s                                                                   


Ulrikke Ekelund                                                                 
Chief Economist                                                                 
Direct phone (+45) 45 26 22 57                                                  
E-mail uek@brf.dk                                                               











Please observe that the Danish version of this announcement prevails.