Application of IAS 39
reclassification option
Application of IAS 39 reclassification option

October 31, 2008

Company Announcement No 27/2008

On October 15, 2008, the EU adopted the IAS 39 amendments issued by the IASB
that allow reclassification of trading portfolio bonds and other assets in rare circumstances.
As result of significant distortion of the pricing of a number of bonds, the
Danske Bank Group has decided to apply the reclassification option with effect
from October 1, 2008.

Consequently, the Danske Bank Group has reclassified around 30% of the bonds in
its trading portfolio. On September 30, 2008, the total portfolio amounted to
DKr446bn. With effect from October 1, 2008, unrealised value adjustments of the
reclassified bonds are recognised directly in shareholders’ equity.
Danske Bank



Contacts:
Tonny Thierry Andersen, Chief Financial Officer,
phone +45 45 14 07 07, mobile +45 22 65 65 97
Martin Gottlob, Head of Investor Relations,
phone +45 45 14 07 92, mobile +45 25 27 25 41