As advised by Totalkredit/Nykredit on 6 March 2008, the banks behind Totalkredit
are being offered a new and broader cooperation agreement which extends the     
scope of the 2003 agreement entered into when Nykredit purchased Totalkredit.   
The offer is, however, conditional upon acceptance by an adequate number of     

Ringkjøbing Landbobank has decided to support the new agreement.                

The amended agreement will affect Ringkjøbing Landbobank's profit and loss      
account and solvency this financial year as explained below.                    

Acceptance of the offered additional payment will mean a capital gain for       
Ringkjøbing Landbobank                                                          
The original purchase agreement of 2003 contained an adjustment to Nykredit's   
purchase price for Totalkredit which depended on Totalkredit's market share as  
of 1 April 2010. The diversification will, however, make a precise calculation  
of Totalkredit's market share in 2010 difficult. Nykredit is therefore now      
offering the banks a market share fixed at 35% as of 1 April 2010. The result   
will be an additional payment to the banks totalling DKK 1,460 million after    
tax. The actual payment will be made as originally agreed on 1 October 2012 and 
distributed among the banks in accordance with their equity interests in        
Totalkredit when the company was sold in 2003.                                  

Although the additional payment will not be due until 2012, the banks - if the  
offer is accepted - must include the current value of the future additional     
payment in their profit and loss accounts as a capital gain now. For Ringkjøbing
Landbobank, the additional payment will result in a capital gain of             
approximately DKK 32 million, which will increase the result after tax for the  
first quarter of 2008 by about DKK 24 million.                                  

Transfer to new cooperation model increases Ringkjøbing Landbobank's capital    
adequacy ratio                                                                  
Apart from specification of the additional payment, the offer includes a        
provision to the effect that the banks must transfer from the current loss      
guarantee model to an offsetting model by 1 April 2008. In future, any losses on
Totalkredit loans arranged by the banks will be offset against the ongoing      
commissions which the banks receive from Totalkredit for their initiatives and  
servicing of the borrowers until the entire loss in question has been covered.  
For Ringkjøbing Landbobank, the transfer to the offsetting model means that loss
guarantees to Totalkredit totalling approximately DKK 1,250 million will lapse. 
This will reduce the risk-adjusted items which - all else being equal - will    
mean an increase of about 0.4 of a percentage point in the bank's solvency.