Next week Max Bank convenes an extraordinary general meeting on participation in the Bank Aid Package

Max Bank is currently negotiating with the Danish Government for the raising of
hybrid core capital of DKK 170-230m. This capital contribution will be of such
nature that requires specific approval by the General Meeting for which reason
the authorisation to raise hybrid core capital which was granted to the
Supervisory Board at the general meetings held on 26 March and 20 April 2009 is
insufficient. 

Pursuant to the provisions on issuance of convertible debt instruments of the
Danish Public Companies Act, the General Meeting is to approve the part of the
capital contribution that is to be issued as subordinated notes subject to a
conversion obligation as this part exceeds 50% of the Bank's current share
capital. The total capital contribution under the Bank Aid Package will remain
within the 50% limit of the Bank's core capital as already adopted by the
General Meeting. 

The proposal to obtain a governmental capital contribution as well as the
necessary amendment of the Articles of Association will be presented at an
extraordinary general meeting on Monday 10 August 2009 at 10 am at the Bank's
main office, Femøvej 3, Næstved. The General Meeting will be convened next
week. 

As the General Meeting already approved Max Bank's participation in the Bank
Aid Package twice, the Supervisory Board expects the General Meeting to vote in
favour of such participation. The Supervisory Board expects the negotiations
with the Government to continue after the said general meeting. 


Please direct any questions to CEO Henrik Lund, Tel: +45 21 72 17 86 or
EO Hans Verner Larsen, Tel: +45 20 32 31 62



Stock Exchange Announcement no. 11/2009