Test auction in connection with refinancing in February/March 2013

Nykredit Realkredit A/S
Company Announcement

Test auction in connection with refinancing in February/March 2013

To test systems and settlement procedures, Nykredit will conduct a test auction
in DKK-denominated bonds on Thursday 21 February 2013 through NASDAQ OMX
Copenhagen A/S's submarket for mortgage bond issuers subject to long settlement
(Auction submarket 136 – CPH Auctions). 

The test auction will be held with 2 April 2013 as value date, and bids correct
to three decimals will be accepted at the auction. 

The following covered bond will be offered:

ISIN:          Name:                              Currency:  Offering:
----------------------------------------------------------------------
DK000978426-6  2% Nykredit 12H SDO B nc apr 2014  DKK        50m      
----------------------------------------------------------------------

  -- 09:00 -  Auction opens for bidding.
  -- 10:30 -  Auction closes.
  -- 10:40 -  Allotment of accepted bids. 

If you are interested in participating in the test auction, please contact
Group Treasury, Remy Sparvath, Chief Dealer, tel +45 44 55 12 85, or Christian
Hald, Dealer, tel +45 44 55 10 63. 

General enquiries may be addressed to Nels Petersen, Head of Corporate
Communications, tel +45 44 55 14 70/+45 20 22 22 72.
Social Media Pitch:
Test auction in connection with refinancing in February/March 2013