Tivoli A/S

Board/Management Information • Dec 1, 2014

Tivoli A/S' Supervisory Board has today decided to appoint Elisabeth Milton
Hemmingsen as commercial director with responsibility for Tivoli's commercial
activities, covering sales, service, marketing, food & beverage, games and
business development. Elisabeth Milton Hemmingsen will take up her post on 1
January 2015.

Having graduated from the University of Uppsala in finance and management,
Elisabeth Milton Hemmingsen joined SAS Scandinavian Airlines 20 years ago and
has held several positions within the company. Most recently, she was
responsible for the SAS Group's global sales organisation on the
business-to-business market. From 2002 to 2005, Elisabeth Milton Hemmingsen
worked at Wonderful Copenhagen where she helped brand the Oresund Region as a
destination for international tourism and business.

Elisabeth Milton Hemmingsen will join Tivoli's Executive Board, increasing its
number to three. Thus, with Elisabeth Milton Hemmingsen's appointment on 1
January 2015, the Executive Board will consist of CEO Lars Liebst (appointed in
1996), CFO Claus Dyhr (appointed in 2008) and commercial director Elisabeth
Milton Hemmingsen.

This expansion of the Executive Board is part of our strategy to turn Tivoli
into an all-year business and to accommodate the resulting commercial
activities.

Kind regards,

Lars Liebst
CEO

Contact: Lars Liebst (Secretariat: +45 3375 0216 / krr@tivoli.dk)