Pursuant to section 28(a) of the Securities Trading Act Max Bank A/S is to report the transactions in Max Bank A/S shares and connected securities of managerial staff and directors and connected persons. Name Steen Sørensen Reason Member of the Supervisory Board Issuer Max Bank A/S ISIN code DK0010305903 Type Shares Transaction Acquisition Trading date 08 oktober 2010 Market OMX - The Nordic Exchange Copenhagen Number 3,381 Market price DKK 84,525 Yours sincerely Max Bank A/S Susanne Arp Tel.:+45 55 78 01 66 Stock Exchange Announcement No. 38/2010