3.92% Max Bank 2013 - ID Code DK0030005830

In 2005, Max Bank issued a subordinate bond loan of DKK 50m in the form of
eight-year tier 2 capital. 

Based on the bond terms and Max Bank's capital position, the Bank's Supervisory
Board has decided to repay the loan early, thus repaying the loan at 30 June
2010 to the investors at par after a five-year term. 

The Danish Financial Supervisory Authority has already approved the early
repayment; see the Danish Financial Business Act. 

Please contact Flemming Jørgensen or Henrik Lund if you have any questions to
the above. 


Yours faithfully
Max Bank A/S


Flemming Jørgensen
Finance and Investment Manager
Tel: +45 55 78 01 41
e-mail fj@maxbank.dk


Stock exchange announcement no 18/2010