Terms and conditions for the auctions of bond series 10S and 10Q

Company Announcement number 79 – 2008

Referring to the announcement no.

76 of 18 November 2008 the preliminary amount of mortgage covered bonds to be put on auction for the refinancing of FlexLån® in series 10S and 10Q issued by Realkredit Danmark is hereby announced.

The amount will change to the extent of forward rate agreements entered into, prepayments or shifts in the loan profile.

The final amount of mortgage bonds to be auctioned will be announced no later than 2 December 2008.

The preliminary amount of bonds to be auctioned and the exact terms and conditions of the auctions are set out in the appendices to this announcement.

Any additional questions should be addressed to Senior Dealer Søren Gravgaard, phone +45 45 13 20 19.



The Executive Board