DSV

Transaction in Own Shares • Aug 5, 2011

Company Announcement No. 405

On 28 July 2011, DSV initiated the published share buy-back programme, cf.
company announcement no. 404 of 28 July 2011. According to the programme DSV
will in the period to 13 October 2011 purchase own shares up to a maximum value
of DKK 700,000,000 and no more than 7,000,000 shares, corresponding to 3.43% of
the present share capital of DSV A/S. 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 Average transaction Amount DKK
bought back price
1: 28 July 2011 164,791 115.81 19,083,622
2: 29 July 2011 148,000 115.64 17,113,936
3: 1 August 2011 144,544 117.56 16,991,870
4: 2 August 2011 189,803 113.09 21,465,618
5: 3 August 2011 198,597 113.52 22,544,910
6: 4 August 2011 180,000 111.30 20,034,882
7: 5 August 2011 164,000 106.71 17,500,407

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Accumulated for 1,189,735 113.25 134,735,245
trading 1-7

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DSV's accumulated share buy-backs in the period from 28 July 2011 to 5 August
2011 thus total 1,189,735 numbers of shares at a total purchase sum of 134.7
DKK million.

As of today, DSV A/S now holds a total of 9,965,529 shares of a nominal DKK 1
in DSV A/S corresponding to 4.89% of the total number of issued shares of
204,000,000.

The last announcement dated 28 July 2011 stated that DSV A/S held 4.30% 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