The refinancing of Nordea Kredit?s (CSE:NDAR) adjustable rate mortgages maturing on 1 April 2012 will be carried out by an auction of mortgage covered bonds (SDRO).

The dates of the auction and the terms and conditions were published in company announcement No. 12 to the NASDAQ OMX Copenhagen on 30 January 2012

The auctions will take place Tuesday 28 February up to and including Thursday 1 March 2012

The bonds are rated Aaa by Moody?s and AAA by Standard & Poor?s,

The auctions will open daily at 10:00 and close at 12:00 and 14:00, respectively with allocation of accepted bids at 12:10 and 14:10, respectively.

The settlement date is 2 April 2012.

The auctions will be executed according to the timetable on the next page.

Yours faithfully

Nordea Kredit Realkreditaktieselskab

Nordea Kredit, overview of February and March auctions 2012

DK000202371

-2

DK000202398

-5

DK000202401

-7

LU048382789

-4

DK000202371

-2

DK000202401

-7

DK000202711

-9

DK000202371

-2

DK000202711

-9

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