DSV

Transaction in Own Shares • Dec 28, 2010

28 December 2010

SHARE BUY-BACK IN DSV A/S

Company Announcement No. 370

On 29 October 2010, DSV initiated the published share buy-back programme, cf. company announcement no. 361 of 29 October 2010. According to the programme DSV will in the period to 16 February 2011 purchase own shares up to a maximum value of DKK 600,000,000 and no more than 6,000,000 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 1-35		2,254,473	114.70	258,589,346
	36: 17 December 2010	40,000	118.62	4,744,800
	37: 20 December 2010	78,402	118.03	9,253,788
	38: 21 December 2010	15,194	118.70	1,803,528
	39: 22 December 2010	123,500	120.16	14,839,846
	40: 23 December 2010	21,200	120.84	2,561,840
	41: 27 December 2010	10,000	120.70	1,207,000
	42: 28 December 2010	5,000	121.00	605,000
Accumulated for trading 1-42		2,547,769	115.24	293,605,148

DSV's accumulated share buy-backs in the period from 29 October 2010 to 28 December 2010 thus total 2,547,769 numbers of shares at a total purchase sum of 293.6 DKK million.

As of today DSV A/S now holds a total of 2,650,996 shares of a nominal DKK 1 in DSV A/S corresponding to 1.27% of the total number of issued shares of 209,150,000.

The last announcement dated 16 December 2010 stated that DSV A/S held 1.14% 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

DSV A/S, Banemarksvej 58, DK-2605 Brøndby, tel. +45 43203040, fax +45 43203041, CVR No. 58233528, www.dsv.com

Global Transport and Logistics

DSV is a global supplier of transport and logistics services.

DSV has offices in more than 60 countries all over the world and an international network of partners and agents, which makes DSV a truly global player offering services worldwide. By our professional and advantageous overall solutions, the approx. 21,000 DSV employees recorded a worldwide annual revenue of 4.8 billion euro for 2009.