STOCK EXCHANGE ANNOUNCEMENT NO. 275 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 1-35 1,511,600 119.46 180,572,593 36: 20 December 2007 14,600 110.00 1,606,000 37: 21 December 2007 55,400 112.22 6,216,988 38: 27 December 2007 54,100 110.63 5,985,083 39: 28 December 2007 - - 0 40: 2 January 2008 34,300 110.29 3,782,947 41: 3 January 2008 42,500 106.58 4,529,650 42: 4 January 2008 40,000 104.36 4,174,400 Accumulated for trading day 1-42 1,752,500 118.04 206,867,661 DSV's accumulated share buy-backs in the period from 1 November 2007 to 4 January 2008 thus total 1,752,500 number of shares at a total purchase sum of 206.9 DKK million As a result of the above transactions, DSV A/S now holds a total of 13,358,627 shares of a nominal DKK 1 in DSV A/S corresponding to 6.63% of the total number of issued shares of 201,500,000. The last announcement dated 19 December 2007 stated that DSV A/S held 6.51% 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