STOCK EXCHANGE ANNOUNCEMENT NO. 278 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 1-49 2,232,600 113.85 254,171,676 50: 16 January 2008 50,000 92.59 4,629,500 51: 17 January 2008 55,000 93.66 5,151,300 52: 18 January 2008 50,000 90.75 4,537,500 53: 21 January 2008 130,000 90.62 11,780,600 54: 22 January 2008 14,700 86.88 1,277,136 55: 23 January 2008 80,000 92.19 7,375,200 56: 24 January 2008 0 0.00 0 Accumulated for trading day 1-56 2,612,300 110.60 288,922,912 DSV's accumulated share buy-backs in the period from 1 November 2007 to 24 January 2008 thus total 2,612,300 number of shares at a total purchase sum of 288.9 DKK million As a result of the above transactions, DSV A/S now holds a total of 14,217,427 shares of a nominal DKK 1 in DSV A/S corresponding to 7.06% of the total number of issued shares of 201,500,000. The last announcement dated 15 January 2008 stated that DSV A/S held 6.87% 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