Saxo Privatbank Opens First Branch for Retail Market

HELLERUP, Denmark, May 9, 2011 - Saxo Bank, the online trading and investment specialist, has launched its
physical presence with Saxo Privatbank, providing banking services and advice
to retail clients.

Today, Saxo Privatbank has opened its first branch in Tuborg Havn in
Hellerup, Copenhagen, Denmark. Saxo Privatbank will in due time be
represented in a string of the bigger Danish cities.

"Saxo Privatbank offers flexibility and freedom to its clients, and at
the same time we are able to provide well-known banking products like net
banking and credit cards," says Christian Kofoed Jakobsen, Head of Banking at
Saxo Bank. "We have seen an increased demand among our clients for
traditional banking products, like net banking and credit cards, while at the
same time clients want highly qualified advice and access to professional
investment products. We have combined the fact that we are the biggest
investment bank in Denmark with offering more traditional banking products
for retail clients, including advice for retirement planning."

Saxo Privatbank will align its efforts with the specific wishes and needs
of the clients thereby keeping prices and fees to a minimum.

"We have made our price concept simple and transparent. Clients pay a
fixed price for the service that fits them the best. The need determines what
particular banking product the client is going to get," says Christian Kofoed
Jakobsen.

Saxo Privatbank is directing its offering towards clients who have their
finances under control, however, the bank is targeting a broad range of
clients.

"One of our strengths is that if a retail banking client needs special
attention, we can give them access to expert advice from our advisors who
assist senior clients. Our banking products are shaped and targeted in a way
that will offer clients most value," says Christian Kofoed Jakobsen.

Saxo Privatbank is established as a part of Broerup Sparekasse, a Danish
savings bank where Saxo Bank is a major shareholder, the activities of which
will continue in Jutland under its present name. Allan Kandrup will become
head of the Saxo Privatbank branch in Tuborg Havn, Hellerup.

Media enquiries: Kasper Elbjorn, Head of Group Public Relations, +45-3065-4300, press at saxobank.com