Sydbank A/S : Hanni Toosbuy Kasprzak to retire as Vice Chairman of Sydbank

GROUP EXECUTIVE MANAGEMENT

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Company Announcement No 02/2014

17 January 2014

Dear Sirs

Hanni Toosbuy Kasprzak to retire as Vice Chairman of Sydbank

After 8 years as a member of Sydbank's Board of Directors, of which the last 3 as Vice Chairman, Hanni Toosbuy Kasprzak has decided not to accept nomination far re-election to the Board of Directors of Sydbank.
Hanni Toosbuy Kasprzak was elected to the Bank's Board of Directors at Sydbank's Shareholders' Committee meeting on 9 March 2006. In 2011 she was elected Vice Chairman.
Hanni Toosbuy Kasprzak will retire in connection with Sydbank's AGM on
13 March 2014. She will remain on Sydbank's Shareholders' Committee and on the Advisory Board.

"lt has been a great pleasure forme to serve on Sydbank's Board of

Directors", says Hanni Toosbuy Kasprzak.

"lt has been an extremely interesting period to be part of the banking world with its massive changes and many challenges. l am happy to say that Sydbank is a well-run bank with good business momentum."

"Now l am going to concentrate on my own company ECCO which is growing and recording positive developments; l will give it the time and attention that it deserves."
Anders Thoustrup, Sydbank's Board Chairman, says that the Bank's Board of Directors fully understands Hanni Toosbuy Kasprzak's decision and thanks her for her big contribution to Sydbank.

Sydbank

Peberlyk 4

DK-6200 Aabenraa

Tel [phone]

Fax [phone]

Sydbank A!S SWIFT SYBKDK22

CVR No DK 12626509,Aabenraa sydbank.com

After HanniToosbuy Kasprzak retires the Board of Directors will consist of

5 members elected by the AGM.According to the Articles of Association

the Board of Directors shall consist of between 6 and 1O members elected by the AGM. Consequently,at the Shareholders' Committee meeting which will take piace immediately following the AGM at least one new member of the Board of Directors must be elected.

Yours sincerely

Anders Thoustrup

Chairman

The Board of Directors

Any queries may be made to Anders Thoustrup, Board Chairman,mobile no [phone] orto Malene Severinsen, Communication Specialist, ECCO, mobile no [phone].

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