DSV

Transaction in Own Shares • Dec 7, 2010

SHARE BUY-BACK IN DSV A/S
Company Announcement No. 368

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 1-21 1,375,900 113.25 155,821,814
22: 29 November 2010 82,300 113.18 9,314,714
23: 30 November 2010 112,500 112.34 12,638,250
24: 1 December 2010 40,000 115.11 4,604,400
25: 2 December 2010 40,000 117.93 4,717,200
26: 3 December 2010 105,000 119.24 12,520,337
27: 6 December 2010 60,000 117.66 7,059,600
28: 7 December 2010 20,000 119.53 2,390,600
Accumulated for trading 1-28 1,835,700 113.89 209,066,915

DSV's accumulated share buy-backs in the period from 29 October 2010 to 7
December 2010 thus total 1,835,700 numbers of shares at a total purchase sum of
209,1 DKK million.

As of today DSV A/S now holds a total of 1,981,927 shares of a nominal DKK 1 in
DSV A/S corresponding to 0.95% of the total number of issued shares of
209,150,000.

The last announcement dated 26 November 2010 stated that DSV A/S held 0.77% 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