Mr. Steen Hove appointed new Managing Director and Chief Exexcutive til replace Mr. Jørgen Brændstrup

Announcement no. 57-2010 
                                                                16 November 2010
		                                                                              

Company Announcement                                                            

Mr. Steen Hove appointed new Managing Director and Chief Exe­cu­ti­ve to replace
Mr. Jørgen Brændstrup                                                           
Following Mr. Jørgen Brændstrups resignation on 10                              
November 2010 Mr. Jørgen Brændstrup, will, with effect as of today,  be         
de­re­gi­stered as Managing Director and Chief Executive  in the Com­mer­ce and 
Companies Agency and to the FSA.                                                
Mr. Jørgen Brændstrup will in his notice                                        
period terminating on 31 May 2011 be                                            
available to the bank in connection with                                        
specific tasks.                                                                 
Mr. Steen Hove starts as the new Managing Director and Chief                    
Executive of Amagerbanken  with effect as of today. The Management Board now    
consists of Mr. Steen Hove and                                                  
Ma­naging Director Allan Ottsen.                                                
Information on                                                                  
Steen Hove:                                                                     
Born 1947                                                                       
LLM 1973 and called to the Bar in 1976, High Court                              
Attorney                                                                        
Managing Director and Chief Executive of Aktieselskabet Midtbank                
1993-2001                                                                       
Former Vice Chairman of Handelsbanken Regionbank Denmark and former             
member                                                                          
the Boards of, among other things Totalkredit, Finanssektorens                  
Uddannelsescenter,                                                              
BEC Bankernes EDB Central                                                       
Chairman of the Boards of                                                       
Finansieringsselskabet af 11/2 2010 and Herning                                 
Shipping a.s.                                                                   
Steen Hove has                                                                  
many years experience in the Danish financial sector and has                    
extensive                                                                       
experience in the operation of banking activities                               
By entering into the                                                            
Management Board Mr. Steen Hove resigns from the Board of Director of the bank. 
The Board now consists of:                                                      
1. Niels Heering, Attorney, Chairman                                            
2. Tina Fogh                                                                    
Aagaard, Managing Director, Vice Chairman                                       
3. Steen Hemmingsen, CEO                                                        
4. Hans Boye                                                                    
Clausen, CEO                                                                    
5. Hans Nielsen, State Authorised Public Accountant                             
6. Jens Peter                                                                   
Toft, Managing Director                                                         
7. John Skafte, Consultant, elected by employees                                
8.                                                                              
Jannik Hindsbo, Branch Manager, elected by employees                            
9. Michael Baagøe,                                                              
Investment Advisor, elected by employees                                        
10. Dan Hansen, Private Adviser,                                                
elected by                                                                      
employees.                                                                      
                                                                                
Financial                                                                       
Stability A / S has announced that the Financial Stability A / S at present     
will not use its rights under the Agreement on the terms of providing government
guarantees to propose a new board to replace Mr. Steen Hove.                    
                                                    
                                                                            
Since the Board of Directors after Mr. Steen Hove's resignation is still in     
possession of the necessary competence and experience and is also considered to 
have an appropriate size                                                        
and composition, a convening of a further general                               
meeting with a view of electing a new Board Member will not take place.         
                                                                                


                                Yours faithfully                                
                            A M A G E R B A N K E N                             

                                 Niels Heering                                  
                                   Chairman