016-2008 - Amagerbanken

OMX The Nordic Exchange Copenhagen                                              
6, Nikolaj Plads                                                                
DK-1007  Copenhagen K                                                           


Announcement No. 16-2008                                                        
11July 2008                                                                     

Concerning  the outlook for the first half of 2008 and the rating of            
Amagerbanken by Moody's                                                         

In the light of the extencive press coverage of Amagerbanken, amongst other, we 
have decided to                                                                 
publish the current expectations for the first half of 2008. We emphasize that  
the accounts is still preliminary and not audited.                              

The Bank has latest announced expectation for the year in the DKK 480- 520m     
range as core earnings before credit loss expenses. The current expectations to 
the first half of 2008 is at the DKK 300m level before credit loss expenses and 
value adjustments. The credit loss expenses is in the DKK 10 - 15m range and    
value adjustments are negative by DKK 33m. Compared to 2007 the core earnings   
shows a significant improvement.                                                

In the press coverage the Banks exposure to three customers has been mentioned. 

The Bank has had modest exposure to Sandgården, an exposure which in all        
essentials long since has been repaid. At present the Bank has no exposure to   
Sandgården and we have no recordings of any loss. Holmsø and others is an       
exposure, which has been in a process of liquidation for a couple of years and  
just at the end of the first half of 2008 the remaining exposure has been repaid
without any loss to the Bank.                                                   

Gerhardt International is a company in which the Bank is now a 100 per cent     
share holder. The only new thing is that the Bank has all of the capital. This  
has been the plan for a long time. Incidentally, the result for Gerhardt has    
shown a profit in the recent months. The exposure has been written off in       
previous years.                                                                 

For the first time Amagerbanken has been rated by Moody's and the rating has led
to some press coverage initiated by comments from RB Børsen. The Bank and the   
Bank's international correspondents regards the rating as absolutely            
satisfactory especially in light of the present state of the business cycle.    

The rating correponds to the rating of comparable banks, like Fionia Bank and   
Spar Nord Bank. Roskilde Bank has a lower rating.                               
                               Yours faithfully,                                
                            A M A G E R B A N K E N                             

                                Knud Christensen                                
                             Managing Director and                              
                                Chief Executive