Company Announcement No. 427
On 26 October 2011, DSV initiated the published share buy-back programme, cf. company announcement no. 417 of 26 October 2011. According to the programme DSV will in the period to 23 January 2012 purchase own shares up to a maximum value of DKK 400,000,000 and no more than 5,000,000 shares, corresponding to 2.45% of the share capital of DSV A/S at the day of announcement. The program is implemented in accordance with the ?Safe Harbour? provisions of EU regulation no. 2273/2003 of 22 December 2003. DSV will therefore 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 | 2,945,847 | 103.98 | 306,294,209 |
| 50: 4 January 2012 | 35,000 | 105.07 | 3,677,590 |
| 51: 5 January 2012 | 30,000 | 106.75 | 3,202,440 |
| 52: 6 January 2012 | 62,700 | 107.41 | 6,734,670 |
| 53: 9 January 2012 | 35,000 | 108.79 | 3,807,580 |
| 54: 10 January 2012 | 41,477 | 111.06 | 4,606,353 |
| 55: 11 January 2012 | 100,000 | 112.89 | 11,289,200 |
| 56: 12 January 2012 | 95,000 | 112.25 | 10,663,693 |
| Accumulated for trading 1-56 | 3,345,024 | 104.72 | 350,275,735 |
DSV?s accumulated share buy-backs in the period from 26 October 2011 to 12 January 2012 thus total 3,345,024 numbers of shares at a total purchase sum of DKK 350.3 million.
As of today, DSV A/S now holds a total of 4,816,189 shares with a face value of DKK 1 in DSV A/S corresponding to 2.53% of the total number of issued shares of 190,000,000.
The last announcement dated 3 January 2012 stated that DSV A/S held 2.34% 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