Skjern Bank

Regulatory Filings • Oct 7, 2008

OMX Nordic Exchange Copenhagen A/S Skjern, 7 October 2008 Nikolaj Plads 6 DK-1007 Copenhagen K

Stock Exchange Announcement no. 18/2008

A/S Skjern Bank endorses the new government guarantee scheme

The Danish government has issued a two-year guarantee for all deposits with and unsecured claims against Danish financial institutions.

A/S Skjern Bank decided today to endorse the new guarantee scheme which is administered by the Danish banking sector's contingency association, Det Private Beredskab.

As a consequence of the endorsement of the scheme, A/S Skjern Bank's net fee earnings over the next two years will be negatively impacted by approximately DKK 20-22 million per year from today's date. Additional costs may be incurred if a claim for payment of excess and guarantee commission is put forward, cf. the terms of the scheme.

In 2008, A/S Skjern Bank's participation in the scheme is expected to influence the bank's pretax profit negatively by DKK 5-6 million.

In line with the intentions of the new scheme, A/S Skjern Bank's board of directors further decided that no dividends will be distributed over the next two years.

Yours sincerely Skjern Bank

Carsten Thygesen Per Munck Chairman of the Board of Directors Director