Implementation of the agreement between Financial Stability A/S and Fionia Bank A/S

Announcement no. 8/2009

Implementation of the agreement between Financial Stability A/S and Fionia Bank
A/S and estimates of the bank's provision for bad debts for the 1st quarter
2009. 

On 22 February 2009 Fionia Bank A/S (now Fionia Bank Holding A/S, CVR 14669000)
entered into an agreement with Financial Stability A/S. The agreement implies
that all assets and all liabilities other than equity and subordinated debt are
transferred to a new company. Financial Stability A/S injects DKK 1 billion in
additional capital. 

The final implementation of the agreement is awaiting approval from the EU.
This approval is expected to be present on 8 April 2009. The transfer of assets
and liabilities to new Fionia Bank A/S (CVR 31934745) is expected to take place
on 14 April 2009. On the same day Fionia Bank Holding A/S is expected to hand
in its banking license and to be renamed Fionia Holding A/S. 

The Board in the new Fionia Bank A/S has today signed the Transfer balance
sheet. The acquisition is retroactive per 1 January 2009. The Transfer balance
sheet is available on www.fioniabank.dk. 

The continued adverse development in the economic conditions still implies a
high level of write-downs in the bank for 2009. In the 1 quarter 2009
provisions for bad debts are expected to be at a level of DKK 350m which mainly
are a transformation of some of the additional, internal risk of DKK 1.022m
stated in the annual report for 2008. 

Fionia Bank Holding A/S has initiated a dialogue with the investors
participating in existing subordinated debt issues. A meeting with these
investors is scheduled for the 2 April 2009 where the aim is to inform about
the agreement and to achieve an agreement with the investors. 

The bank's accounts for 1 quarter 2009 are expected to be published 30 April
2009. 

Best regards
Executive Board