Jyske Bank — Capital/Financing Update 2008

Nov 3, 2008

NASDAQ OMX Copenhagen

GROUP EXECUTIVE BOARD Vestergade 8-16 DK-8600 Silkeborg Tel: +45 89 89 20 01 Fax: +45 89 89 19 99 E-mail: jyskebank@jyskebank.dk

3 November 2008

Reclassification of trading portfolio assets

On October 15 2008, the EU adopted the IAS 39 amendments issued by the IASB. This means that bonds and other assets in the trading portfolio may in rare circumstances be reclassified out of the trading portfolio. Jyske Bank has decided to apply the reclassification option to some of the assets in our trading portfolio.

With effect from 1 July 2008, the Jyske Bank Group has reclassified trading portfolio assets worth approximately DKK 5bn, which are now recognised at amortised cost instead of at fair value.

The reclassified bonds correspond to about 25% of the total trading portfolio. The reclassification will affect the Jyske Bank Group's consolidated accounts for the fourth quarter of 2008: the return on our own securities portfolio will increase by DKK 200m.

Yours faithfully,

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Anders Dam Managing Director and CEO