Saxo Bank Launches Milan Office in Response to 78% Growth in FX Trading Volumes in Italy

COPENHAGEN - Saxo Bank, the Online Trading and Investment Specialist, Today
Announces the Opening of a New Office in Milan

The opening of the Milan office is a strategic move by Saxo Bank to
strengthen and expand its position as a leading FX provider in Southern
Europe and to offer local clients a better level of service and education.

Saxo Bank increased its private client business in Italy by 48% in 2008
compared to 2007. Moreover, Italian private investors have shown an increased
interest in FX, and FX volumes grew by 78% in 2008. The main focus of the
Milan office will be on FX trading, although Saxo Bank clients in the region
will continue to be informed about the other options available on Saxo Bank’s
platform, including stocks, CFDs and futures.

The Milan office will be headed by Torben Rene Larsen, who comments: “The
new office will enable us to have a higher frequency of meetings with clients
and partners, and in turn our clients will benefit from enhanced education
both through our own educational products and through increased partnerships
with educational providers. We will also be improving our telephone support
service to allow even greater contact with our clients.”

Lars Seier Christensen, Co-CEO and co-founder of Saxo Bank, commented:
“Opening the Milan office further establishes Saxo Bank as a premium FX
provider across Europe. We believe it is increasingly important for clients
to be informed and educated on the latest products and to receive a more
personal service. The new office will enable us to provide an on-the-ground
service to clients and potential clients in the region and inform them of the
many trading options available to them on our award winning trading
platforms.”

About Saxo Bank

Saxo Bank is an online trading and investment specialist, enabling
clients to trade Forex, CFDs, Stocks, Futures, Options and other derivatives,
as well as providing portfolio management via SaxoWebTrader and SaxoTrader,
the leading online trading platforms. SaxoTrader is available directly
through Saxo Bank or through one of the Bank’s global partners. White
Labelling is a significant business area for Saxo Bank, and involves the
Bank’s online trading platform being customised and branded for other
financial institutions and brokers. Saxo Bank has more than 120 White Label
Partners and boasts thousands of clients in over 180 countries. Saxo Bank is
headquartered in Copenhagen with offices in the UK, France, Switzerland,
Singapore, Spain, Australia and Japan.

Source: Saxo Bank

Media enquiries: Kasper Elbjorn, Saxo Bank Corporate Communications, +45-3065-4300, Team-CorporateCommunications at saxobank.com. Louise Whitlock, Penrose Financial, +44-(0)20-7786-4887, Louisew at penrose.co.uk