STOCK EXCHANGE ANNOUNCEMENT NO. 274 Share buy-back in DSV A/S On 1 November 2007, DSV initiated the published share buy-back programme, cf. stock exchange announcement no. 266 of 31 October 2007. According to the programme DSV will in the period to 29 February 2008 purchase own shares for an amount of up to a maximum of DKK 400 million. 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 1-28 1,103,300 120.13 132,536,829 29: 11 December 2007 30,000 121.62 3,648,600 30: 12 December 2007 - - - 31: 13 December 2007 150,000 121.00 18,150,000 32: 14 December 2007 89,700 118.04 10,588,188 33: 17 December 2007 50,000 114.20 5,710,000 34: 18 December 2007 40,000 113.19 4,527,600 35: 19 December 2007 48,600 111.35 5,411,610 Accumulated for trading day 1-35 1,511,600 119.46 180,572,593 DSV's accumulated share buy-backs in the period from 1 November 2007 to 19 December 2007 thus total 1,511,600 number of shares at a total purchase sum of 180.6 DKK million As a result of the above transactions, DSV A/S now holds a total of 13,117,727 shares of a nominal DKK 1 in DSV A/S corresponding to 6.51% of the total number of issued shares of 201,500,000. The last announcement dated 11 December 2007 stated that DSV A/S held 6.31% of the company's share capital. Questions should be addressed to Jens H. Lund, CFO, tel. +45 43 20 30 40. Yours sincerely DSV Kurt K. Larsen Jens H. Lund CEO CFO