Saxo Bank Stays With Riis

HELLERUP, Denmark, October 17, 2010 /PRNewswire/ — Saxo Bank, the online
trading and investment specialist, will continue as the title sponsor for
Riis Cycling A/S whether Alberto Contador will be on the team in 2011 or not.

Saxo Bank’s decision to continue its sponsorship is based on a desire to
support Bjarne Riis.

“It is hard to exaggerate the role that Bjarne Riis plays in Danish and
international cycling. This is also true for his development of the
anti-doping program everyone uses, today. Regardless of the outcome of this
sad case, we have unwavering confidence in Bjarne Riis“, says Lars Seier
Christensen, Co-CEO and co-founder of Saxo Bank.

“We want to be part of the efforts to ensure that Danish cycling
continues to have the best possible platform to maintain its international
lead. Just look how Matti Breschel came second in this year’s World
championship. It is an enormous inspiration and motivation for young Danish
talents that we have a world class cycling team in Denmark“, says Lars Seier
Christensen.

On September 30, following the announcement that a doping test of Alberto
Contador during Tour de France turned positive both in the A and B test, Saxo
Bank said it still had full confidence in Bjarne Riis and his decisions
regarding organisational matters and sports issues. For that reason, the Bank
would not make any statements before further information was available from

Bjarne Riis. Since then, there has been some speculation that the Bank has a
clause in the contract in case Contador was found guilty or if he, for some
other reason, could not be riding for Riis Cycling A/S in 2011. This is now
confirmed by the Bank.

“We have been given permission to reveal that Saxo Bank indeed has a
clause in its contract with the cycling team that Alberto Contador will be
engaged as a rider for the team in 2011. However, I have agreed with Bjarne
Riis and the team management that Saxo Bank will ignore this clause if

Alberto Contador, against expectations, will not be on the team next year.
While I am obviously not an expert, I personally trust Alberto Contador’s explanation and expect him to be able to ride for the team in 2011 as
planned”, says Lars Seier Christensen.

Lars Seier Christensen still believes it is a good commercial decision
for the Bank to support the cycling team.

“During this year’s Tour de France, Politiken, a Danish newspaper, said
that in their view Bjarne Riis was Denmark’s best sports brand. This is a
view that we share. We continue to think that it’s a good commercial decision
to support Bjarne Riis and his cycling team”, says Lars Seier Christensen.

Saxo Bank is an investment bank specialising in online trading and
investment. In August, the Bank announced its best half year results ever
with a net profit of DKK 551 million as a result of positive developments in
key drivers such as the number of clients, number of trades and trading
volumes.

On 3 August, 2010, Saxo Bank announced that the Bank had taken a
strategic decision to sponsor the Team in 2011.

SOURCE Saxo Bank