As a result of sustained turmoil in the financial markets, Alm. Brand Formue is
downgrading the guidance for its full-year financial results from a profit of
approximately DKK 10m as previously announced to a loss in the region of DKK
170m.
The downgrade is a result of the following factors:
• Generally higher interest rates as a result of mounting fears of inflation
and sustained credit turmoil combined with substantial credit spread
fluctuations and a highly illiquid mortgage bond market.
• Falling share prices in Denmark and internationally.
The negative value adjustment is reflected in the net asset value reported on a
daily basis to NASDAQ OMX. NAV dropped from 171 to 117 for the year to date, a
decline of some 32%.
Alm. Brand Formue believes that the financial markets will remain characterised
by great uncertainty in the months ahead.
Alm. Brand Formue will announce its interim report for the first half-year of
2008 on 20 August 2008.
Please direct any questions regarding this announcement to Bo Overvad, Senior
Vice President, on tel. +45 35 47 86 78 or to Henrik Nordam, Chairman, on tel.
+45 35 47 48 49
Yours sincerely,
Alm. Brand Formue A/S
Henrik Nordam
Chairman
