Steen Jakobsen Re-joins Saxo Bank

HELLERUP, Denmark, March 10, 2011 - Saxo Bank announced today that the Group has reappointed Steen Jakobsen
to the position of Saxo Bank's Chief Economist.

Mr. Jakobsen returns to the Bank after two years' absence. During that
time he has been Chief Investment Officer for Limus Capital Partners. Prior
to his departure in early 2009, Mr. Jakobsen was with Saxo Bank for almost
nine years.

Mr. Jakobsen has more than 20+ years of experience within the fields of
proprietary trading and alternative investment. In 1989, after finishing his
studies in Economics at Copenhagen University, he started his career at
Citibank N.A. Copenhagen from where he moved to Hafnia Merchant Bank as
Director, Head of Sales and Options. In 1992, he joined Chase Manhattan in
London as VP, Head of Scandinavian Sales, and then the Chase Manhattan
Proprietary Trading Group. 1995-1997 he worked as a Proprietary Trader and
Head of Flow Desk at Swiss Bank Corp., London. In 1997, he became Global Head
of Trading, FX and Options at Christiania (now Nordea) in New York until he
joined UBS in New York in 1999 as the Executive Director in the Global
Proprietary Trading Group.

Mr. Jakobsen will report directly to the top management and begin work on
17 March with an appearance as guest host on CNBC Europe. This is a role he
has tried before and that he will be taking on in the future, too.

At the same time, Saxo Bank is pleased to announce that David Karsb0l,
who has been the Bank's Chief Economist for the past two years, formally will
join Sr. Vice President Christian Kofoed Jakobsen's Banking team with whom he
has already been working closely for the past six months. Mr. Karsb0l will be
responsible for the development of pension and investment products for the
Banking activities. Mr. Karsb0l joined Saxo Bank in 2003.

Media enquiries: Kasper Elbj0rn, Head of Group Public Relations, +45-3065-4300, press at saxobank.com