SHARE BUY-BACK IN DSV A/S Company Announcement No. 364 On 29 October 2010, DSV initiated the published share buy-back programme, cf. company announcement no. 361 of 29 October 2010. According to the programme DSV will in the period to 16 February 2011 purchase own shares up to a maximum value of DKK 600,000,000 and no more than 6,000,000 shares. The program is implemented in accordance with the “Safe Harbour” provisions of EU regulation no. 2273/2003 of 22 December 2003. Therefore, DSV will publish the accumulated buy-backs under the programme every 7th trading day. Trading day Number of shares bought back Average transaction price Amount DKK Accumulated for trading day 1-7 433,628 111.62 48,401,778 8: 9 November 2010 61,119 114.33 6,987,735 9: 10 November 2010 57,581 113.89 6.557.900 10: 11 November 2010 160,000 112.90 18,064,000 11: 12 November 2010 40,000 112.77 4,510,800 12: 15 November 2010 40,000 114.70 4,588,000 13: 16 November 2010 130,000 114.67 14,907,100 14: 17 November 2010 40,000 114.19 4,567,600 Accumulated for trading 1-14 962,328 112.84 108,584,913 DSV's accumulated share buy-backs in the period from 29 October 2010 to 17 November 2010 thus total 962,328 numbers of shares at a total purchase sum of 108,6 DKK million. As a result of the above transactions, DSV A/S now holds a total of 1,247,555 shares of a nominal DKK 1 in DSV A/S corresponding to 0.60% of the total number of issued shares of 209,150,000. The last announcement dated 8 November 2010 stated that DSV A/S held 0.40% of the company's share capital. Any questions may be addressed to Jens H. Lund, CFO, tel. +45 43 20 30 40. Yours sincerely, DSV Jens Bjørn Andersen Jens H. Lund CEO CFO