Max Bank remains optimistic after Q1

Net loss of DKK 1.8m after payment of DKK 6.8m into Bank Aid Package 1.

9.2% increase in operating profit, arriving at DKK 10.2m.

Costs declined by 7.4%.

Positive translation/market value adjustments of DKK 12.7m.

Fairly high impairment losses - the situation is improving, however.

Risk reduction continues. The portion of large commitments has been reduced
from 235%  at year-end to 189%. 

The capital adequacy ratio has increased from 11.1% at year-end to 11.8%.

Cash resources of 231% above the statutory requirement enable settlement of
expensive funding items. 

Expectations for a modest profit before translation/market value adjustments
and tax for FY 2009 remain unchanged.