Fixing of FX StartFixing of FX Start

May 19, 2008
Company Announcement No 20/2008

Fixing of FX Start for 2% Merchant US Dollar 2011 and 0% Merchant US Dollar 2011 Offensiv notes.

On May 16, 2008, Danske Bank issued two types of notes linked to the USD/DKK exchange rate (ISIN codes DK0030101555 and DK0030101639). The notes are designated 2% Merchant US Dollar 2011 and 0% Merchant US Dollar 2011 Offensiv.

As paying agent, Danske Bank has fixed the start level (FX Start) of the currency pair for the 2% Merchant US Dollar 2011 notes at 4.9600.

As paying agent, Danske Bank has fixed the start level (FX Start) of the currency pair for the 0% Merchant US Dollar 2011 Offensiv notes at 4.8138.

For further information about the above issue, we refer to the Applicable Final Terms published through Company News Service on May 15, 2008.