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| 17 January 2008 |
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| OMX Den Nordiske Børs København | |
| Nikolaj Plads 6 | |
| 1007 København K | |
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Stock exchange announcement no 2/2008
Earnings expectations for the year 2007
The earnings expectations for 2007 previously announced by the Bank were at the
level of DKK 95-100m before tax.
This level is adjusted downwards to DKK 80-85m before tax.
The earnings expectations for 2007 included an assumption of a total positive
market value adjustment of the Bank's own portfolio of DKK 13m, based among
other factors on an expected continuance of a positive share market.
Due to particularly the course of the share market in the last period, we
anticipate a total negative market value adjustment of about DKK 5m.
Also, the development in sale of real property shows no signs of substantial
improvement, and particularly in Q4 this is reflected in the level of fees and
commissions.
As a result, we will not fully achieve the income provided for in the budget in
this area, and have to acknowledge that the course of the credit markets has
resulted in higher prices for the funding of the Bank's activities.
In spite of this, the Bank's core earnings (before translation/market value
adjustments and impairment losses) are up by 6% on last year.
The Bank's annual report will be published on 6 February 2008.
Yours faithfully
Lokalbanken i Nordsjælland a/s
Executive Board
Bruno Riis-Nielsen
