Quarter 1 2008

Earnings before tax, DKr 29.166 m as compared with DKr 37.103 m for the same
period in 2007. Base earnings before write-downs rose by DKr 2.420 m to DKr
32.421 m. Base income increased by 9.2% while expenses and depreciation rose by
10.6%. In Q1 2008, developments in base earnings before write-downs were
slightly better than expected at the publication of the annual report for 2007.
The international credit crises has only impacted the bank's aggregate base
earnings slightly, and only by increasing interest expenses on the bank's
deposits. For the entire year to remain growth in base earnings before
write-downs is expected to continue and earnings before tax to be at the same
level as in 2007.