Den Danske Bank A/S - Offer for Shares of Fokus Bk.

RNS NO 8778R
DEN DANSKE BANK A/S
7 May 1999

Letter to Company Announcements via The Oslo & Copenhagen Stock Exchange

Offer to purchase all outstanding shares in Fokus Bank ASA

Den Danske Bank

*        has obtained the permission of the Norwegian Ministry of
Finance to acquire Fokus Bank

*        will process the acceptances of the offer within two weeks

*        will subsequently own 98.8 per tent of Fokus Bank and will
submit a mandatory offer to Fokus Bank's remaining shareholders

Today Den Danske Bank received the required permission to acquire Fokus
Bank from the Norwegian authorities. All conditions associated with the
offer to purchase all of the outstanding shares in Fokus Bank have thus
been fulfilled, and Den Danske Bank will complete the purchase.

To accept the voluntary offer, current shareholders must deliver their
acceptances to Saga Securities ASA by 4.00pm on 7 May 1999. Acceptances
received afterwards will not be registered.

The transfer of the shares and the settlement will be carried out as
soon as possible, two weeks from today's date at the latest.

According to the terms of the offer, the payment for the shares will
amount to NOK 77 per share (the offering price of NOK 80 minus a
dividend of NOK 3 to be disbursed on 7 May 1999) plus interest
compensation of 8 per cent per annum for the period from the
registration of the acceptance to the settlement date. Interest is
calculated on NOK 80 per share until 6 May 1999 and afterwards on NOK 77
per share.

Den Danske Bank will subsequently own 98.8 per cent of all outstanding
shares in Fokus Bank.

The acquisition of the shares as a result of acceptances of the offer will
fulfil the obligations associated with Den Danske Bank's offer according to
Norwegian legislation on securities trading. The offering document for the
mandatory offer will be sent to Fokus Bank's remaining shareholders as soon as
it has been drawn up.

After the expiry of the mandatory offer any remaining outstanding
shares in Fokus Bank will be subject to compulsory redemption.

All conditions in the authorities' permission are in accordance with
Den Danske Bank's application, including the condition that a
significant portion of the business of Fokus Bank ASA will not be
transferred to Den Danske Bank without the approval of the Ministry of
Finance.


FROM:       Steen Reeslev
            Den Danske Bank

Contact person: 
Jakob Brogaard, Member of the Executive Board, telephone +45 33 44 26 00

Letter from Steen Reeslev, Den Danske Bank

END

OFFUBUUAABGBGAM

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