STOCK EXCHANGE ANNOUNCEMENT NO. 299 Share buy-back in DSV A/S On 29 April 2008, DSV initiated the published share buy-back programme, cf. stock exchange announcement no. 295 of 29 April 2008. According to the programme DSV will in the period to 31 July 2008 purchase own shares up to an amount of DKK 300 million, but with a maximum of 3,299,073 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 1-7 321,700 118.96 38,269,455 8: 9 May 2008 45,000 121.01 5,445,450 9: 13 May 2008 35,000 122.49 4,287,150 10: 14 May 2008 40,000 122.22 4,888,800 11: 15 May 2008 45,000 123.28 5,547,600 12: 16 May 2008 45,000 125.10 5,629,500 13: 19 May 2008 41,000 125.00 5,125,000 14: 20 May 2008 100,000 122.00 12,200,000 Accumulated for trading day 1-14 672,700 120.99 81,392,955 DSV's accumulated share buy-backs in the period from 29 April 2008 to 20 May 2008 thus total 672,700 numbers of shares at a total purchase sum of 81.4 DKK million. As a result of the above transactions, DSV A/S now holds a total of 17,523,627 shares of a nominal DKK 1 in DSV A/S corresponding to 8.7% of the total number of issued shares of 201,500,000, The last announcement dated 9 May 2008 stated that DSV A/S held 8.52% 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