Sydbank — AGM Information 2011

Mar 10, 2011

Aabenraa, Denmark, 2011-03-10 17:50 CET (GLOBE NEWSWIRE) -- Nasdaq OMX
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Company Announcement No 06/11

Today, Sydbank's AGM gathered at Folkehjem in Aabenraa and adopted the
Directors' Report, the Annual Report and the recommendation for the allocation
of profit. As a result a dividend of DKK 1 will be distributed per share at a
nominal value of DKK 10.

Chairman of the Board of Directors, former County Mayor Mr Kresten Philipsen
presented the Directors' Report to the AGM and characterised profit before tax
of DKK 558m for 2010 as acceptable and was pleased to note that during the
crisis years 2008-2010 the Bank has been strengthened by DKK 1.7bn via
operating profits.

At the AGM seven new members were elected and 11 members were re-elected to the
Shareholders' Committee, which now counts 63 members.

KPMG Statsautoriseret Revisionspartnerselskab was re-appointed auditor.

The AGM adopted the recommendation of the Board of Directors regarding for the
Bank's remuneration policy for the Board of Directors, the Group Executive
Management and other employees whose activities have a significant impact on
the Bank's risk profile.

Moreover the AGM resolved that at present Sydbank does not wish to declare
whether it would make use of the winding-up scheme under the Danish Act on
Financial Stability if the Bank were to become distressed.

Amendments to the Articles of Association

The AGM adopted the proposed amendments submitted by the Board of Directors to
Article 8 (2) authority to the Board of Directors to allow the Bank to acquire
own shares and Article 9 (2) the possibility for shareholders to vote by postal
vote.

The AGM renewed the authority to the Board of Directors to allow the Bank to
acquire own shares.

Yours sincerely

Niels Møllegaard

Group Executive Vice President