DSV

Transaction in Own Shares • May 30, 2011

Company Announcement No. 394

On 29 April 2011, DSV initiated the published share buy-back programme, cf.
company announcement no. 388 of 29 April 2011. According to the programme DSV
will in the period to 21 July 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
Accumulated for trading 1,322,530 129.43 171,169,758
day 1-14
15: 19 May 2011 43,745 128.92 5,639,605
16: 23 May 2011 125,058 126.92 15,872,361
17: 24 May 2011 19,550 127.53 2,493,255
18: 25 May 2011 79,501 128.07 10,181,693
19: 26 May 2011 80,987 128.04 10,369,575
20: 27 May 2011 72,976 128.72 9,393,471
21: 30 May 2011 22,803 129.29 2,948,200

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Accumulated for trading 1,767,150 129.06 228,067,919
1-21

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DSV's accumulated share buy-backs in the period from 29 April 2011 to 30 May
2011 thus total 1,767,150 numbers of shares at a total purchase sum of 228.0
DKK million.

As of today, DSV A/S now holds a total of 4,973,539 shares of a nominal DKK 1
in DSV A/S corresponding to 2.44% of the total number of issued shares of
204,000,000.

The last announcement dated 18 May 2011 stated that DSV A/S held 2.23% 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