Kalvebod plc Series 2 DKK 928.450.000 Fixed/Floating Rate Secured Notes Due 2106 (ISIN: DK0030029269)

On 5 May 2009 Kalvebod plc published a stock exchange announcement through
NASDAQ OMX Copenhagen A/S concerning a write-down of the principal of the above
notes. 

The notes are registered with VP Securities A/S.

As paying agent for the above issue and on behalf of Kalvebod plc, Nykredit
Bank A/S hereby discloses the following information from VP Securities A/S: 

"Kalvebod plc has previously issued an announcement concerning a drawing in
re-spect of the above. One of the underlying assets of Kalvebod is hybrid core
capital issued by Roskilde Bank. As a consequence of the bankruptcy of Roskilde
Bank, 14.71% of the Kalvebod S2 principal must be drawn at a price of 2.2874. 

The drawing date has not yet been determined."

Nykredit Bank A/S and Kalvebod plc will provide additional information in this
re-gard in connection with the drawing. 

Please address enquiries concerning this announcement to Claus Møller, Nykredit
Bank A/S, Kalvebod Brygge 1-3, DK-1780 Copenhagen K, tel +45 44 55 12 90. 

Yours sincerely 

On behalf of Kalvebod plc
Nykredit Bank A/S as paying agent