Nykredit offers DKK 3.0bn-worth of Aaa-rated DKK-denominated covered bonds
("særligt dækkede obligationer" - SDOs) in connection with the interest rate
adjustment 
of Nykredit adjustable-rate mortgages subject to annual interest rate adjustment
on 1 April.

Offering and auction terms
The auctions take place from Tuesday 11 March to Thursday 27 March this year
(both dates included). For the ISIN offered, please refer to Appendix 1, while
the specific times and terms of the different auctions appear from Appendices 2
and 3. 

Questions regarding the bond sale as well as technical issues may be addressed
to 
Lars Kastrup Nielsen, Head of Trading, tel +45 44 55 11 66.

Other inquiries may be addressed to Henrik Hjortshøj-Nielsen, Executive Vice
President, 
Group Treasury, tel +45 44 55 10 40, or Nels Petersen, Head of Corporate
Communications, tel +45 44 55 14 70/+45 20 22 22 72.