Alm. Brand Bank A/S - Quarterly report Q3 2007

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|                                           |           | ALM. BRAND BANK      |
|                                           |           | The Executive Board  |
|                                           |           | Midtermolen 7        |
|                                           |           | DK-2100 Copenhagen Ø |
|                                           |           | Tel.	+45 35 47 48 49 |
|                                           |           | Fax.	                |
|                                           |           | www.almbrand.dk      |
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| OMX Nordic Exchange Copenhagen A/S        |           |                      |
| Nikolaj Plads 6                           |           |                      |
| P.O. Box 1040                             |           |                      |
| 1007 Copenhagen K                         |           |                      |
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| Announcement No. 17/2007                  | Date      | 20 November 2007     |
|                                           | Page      | 2 of 2               |
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Alm. Brand Bank - Interim report for the third quarter of 2007                  
The quarter at a glance                                                         
Satisfactory Q3 profit before tax of DKK 68 million, against DKK 56 million for 
Q3 2006.                                                                        

The year-to-date profit was DKK 178 million, against DKK 137 million in the     
first nine months of 2006.                                                      

The bank reported a net increase of 30% in loans and advances relative to 30    
September 2006. Growth was satisfactory and the result of the bank's strategy of
focusing on selected segments while maintaining risk at a known and moderate    
level.                                                                          

Net interest and fee income was DKK 139 million in Q3 2007, corresponding to an 
increase of 22% relative to Q3 2006.                                            

The reporting period was characterised by considerable turmoil in the financial 
markets. The bank refinanced parts of its external funding in the spring of     
2007. The majority of these loans have a term to maturity of between one and    
five years. The bank was therefore relatively unaffected by the turmoil.        

Like the rest of the group, the bank has no direct or indirect exposure to the  
US sub-prime market.                                                            

Overview                                                                        
Loans and advances stood at DKK 17.0 billion at 30 September 2007.              

Equity stood at DKK 1.4 billion at 30 September 2007.                           

The annualised return on equity for Q3 2007 was 21% before tax.                 

The annualised return on equity for the year to date was 19% before tax.        

Full-year profit forecast is DKK 190 million before tax.                        







Please direct any questions regarding this announcement to Henrik Nordam, Chief 
Executive, on tel. +45 35 47 48 49.                                             

Alm. Brand Bank A/S                                                             
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| Henrik Nordam                        |                                       |
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| Chief Executive                      |                                       |
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