Sydbank — Board/Management Information 2011

Oct 11, 2011

Aabenraa, Denmark, 2011-10-11 08:59 CEST (GLOBE NEWSWIRE) --
Sydbank's management has decided to introduce a series of measures to ensure
that the business continues to be sound and strong. The new measures comprise:

TerminaOtion of employment of 89 employees.

-- Termination of employment of 89 employees.
-- Ongoing adaptation of the service concept by means of changed business
hours as regards cashier services in the majority of the Bank's branches.
-- The service of retail clients residing outside Denmark will be based in the
Bank's German region.
-- Sydbank (Schweiz) AG will transfer some of its clients to Nordea
International Private Banking in Switzerland.
-- Sydbank will take over the private banking activities of Gries &
Heissel Bankiers AG. According to the agreement Sydbank will be represented
also in Berlin and Wiesbaden as of 1 January 2012.
-- An increase in the interest rates of floating-rate loans by up to 0.50
percentage points as of 14 October 2011.