Saxo Bank Wants to be Largest Shareholder in Brorup Sparekasse With a Capital Contribution Exceeding 200 Million DKK

Hellerup, Denmark (ots/PRNewswire) -

- Based on Saxo Bank's long term strategy to strengthen and develop the
Bank with new platforms and new products, Saxo Bank expects to invest
59 million DKK in Brorup Sparekasse.
- Saxo Bank stands ready to offer at least 150 million DKK more in
capital contribution if the terms for transforming Sparekassen, into a
joint-stock company are fulfilled. That will position Brorup
Sparekasse as one of the more solid financial institutions in Denmark
measured by solvency.
- Together with Brorup Sparekasse, Saxo Bank now can include more
traditional bank services in its product offering.

Provided that Saxo Bank's investment in Brorup Sparekasse will be
completed, Saxo Bank plans not only to let the Sparekasse run as in
the past, but wants to make clear that it also will try to launch
various improvements not least in the local areas. Saxo Bank's
investment will be a substantial strengthening of the capital base of
the Sparekassen.

Should Brorup Sparekasse receive the necessary endorsement from
the guarantors to the suggested transformation Saxo bank will realize
a capital contribution of 59 million DKK which is a condition for
Brorup Sparekasse to obtain the vital individual state guarantee of
850 million DKK under Bankpakke II. The transformation plan is
pre-approved by Finansiel Stabilitet (The Financial Stability
Company).

Brorup Sparekasse has a well developed chain of branches, skilled
and engaged employees as well as a strong, loyal and stable client
base not least thanks to the many guarantors who, in connection with
the capital contribution, will benefit from a strengthened capital
base with an expected solid solvency surpassing 25 percent.

"In Saxo Bank, we wish to expand our retail business. We have
experienced a massive increase in demand from our clients concerning
offerings like net banking and debit cards - demands we initially
will be able to accommodate together with Brorup Sparekasse. Saxo
Bank will continue as a professional investment bank, but we would
also like to be a modern bank for retail clients" says Stig Pastwa,
the Saxo Bank Director who will take over as the new Chairman of the
Board in Brorup Sparekasse if the transformation is completed as
planned.

It is furthermore the plan that CFO Karina Deacon and Director
Christian Kofoed Jacobsen from Saxo Bank will take seats on the Board
of Brorup Sparekasse.

In connection with the transformation of Brorup Sparekasse into a
joint-stock company, a new fund named 'Fonden for Brorup Sparekasse'
is established. If the guarantors of Sparekassen choose to support
the recommended transformation, Brorup Sparekasse will be owned by
Saxo Bank with at least 90 percent of the stock and the former
guarantors and the fund owning up to 10 percent of the stock.

"If the terms for the transformation are met Saxo Bank, is ready
to further strengthen the capital base of Sparekassen with a minimum
of 150 million thus supporting the continued operation and
development at the same time as the guarantors' are presented with a
model in which their capital, as a consequence of Saxo Bank's
aggregated capital contribution of 209 million DKK, is expected to be
paid after five years," says Director Christian Kofoed Jakobsen. "We
have been pleased to find support from Sparekassen's representatives
for the new plans combining both tradition and change just as we
appreciate the immense goodwill and positive commitment from the
management of Sparekassen." Brorup Sparekasse will keep its name
together with the logo etc. and Sparekasse director Gunnar Jessen
will continue in his current position.

Further information:

A joint press briefing by Saxo Bank and Brorup Sparekasse will be
held on Friday 17 September 2010 at 1 PM at:

Brorup Sparekasse
Sondergade 16
6650 Brorup

Present at the press briefing will be Stig Patwa and Christian
Kofoed Jakobsen from Saxo Bank and Sparekasse Director Gunnar Jessen
from Brorup Sparekasse. Following the press briefing, Saxo Bank
representatives can be reached at: +45-51-59-52-97.

About Saxo Bank

Saxo Bank is an online trading and investment specialist. The
Bank enables clients to trade Forex, CFDs, Stocks, Equities, Futures,
Options and other derivatives via three specialised and integrated
trading platforms; the browser-based SaxoWebTrader, the downloadable
SaxoTrader and the SaxoMobileTrader, a mobile phone trading platform.
The platforms are available in over 20 languages and available
directly through Saxo Bank or through one of the Bank's institutional
clients. White label is a significant business area for Saxo Bank,
and involves customising and branding of the Bank's online trading
platform for other financial institutions and brokers. Saxo Bank has
more than 120 white label clients and boasts thousands of retail
clients in over 160 countries. Saxo Asset Management was launched in
2009 to accommodate the highest segment of wealthy investors and has
since then tripled its asset under management. Saxo Bank is
headquartered in Copenhagen with offices in Australia, the Czech
Republic, France, Greece, Italy, Japan, the Netherlands, Singapore,
Spain, Switzerland, UK, and the United Arab Emirates.

About Brorup Sparekasse

Brorup Sparekasse is a financial institution that since it was
founded in 1897 has served a large amount of clients in the local
area. Today Sparekassen has seven branches in Brorup, Holsted, Vejen,
Kolding, Vejle and Fredericia and has approximately 70 employees. The
focus of Sparekassen is in a professional way to deliver financial
products and services covering the needs within the segment of retail
clients and small companies. The main activity is to provide personal
guidance on a high professional level within the areas of cars,
homes, pension, insurance and investment. Sparekassen has had great
success throughout numerous years with increasing basic revenue and
by end of 2009 the balance was 2,4 billion DKK.

ots Originaltext: Saxo Bank (Switzerland) SA
Im Internet recherchierbar: http://www.presseportal.de

Contact:
CONTACT: Media enquiries: Jeanette Irene Nielsen, Tlf:
+45-51-59-52-75,press@saxobank.com