Bang & Olufsen

Share Issue/Capital Change • Sep 27, 2010

Bang & Olufsen a/s – Allocation of options and employee shares

In accordance with the company's guidelines for incentive schemes, as adopted at the company's Annual General Meeting on Friday 26 September 2008, the Board of Directors has decided to assign share options to the Board of Management and a group of key management personnel.

The share options will be allocated proportionally over a 3-year period and can hereafter be exercised in a subsequent 3-year period. The share options will hereafter expire.

The share options can be exercised at a price of 47.39 DKK per share, which price reflects the average price of trading in the company's shares on NASDAQ OMX Copenhagen A/S, during the 10 trading days following the announcement of the Company's report for the 2009/10 financial year. The share options exercise price is adjusted for dividend paid.

In addition, the Board of Directors has decided to assign employee shares to employees in the Danish Bang & Olufsen companies. These shares are assigned on the same terms as last year as well as in the same numbers.

The following persons, who are covered by the reporting requirements of the Act on Securities Trading, participate in the options allocation:

Name	Karl Kristian Hvidt Nielsen
Reason	President, CEO, in compliance with article 28a ( 2.1.) of the Danish Securities Trading Act
Issuer	Bang & Olufsen a/s
Designation	Option
Nature of transaction	Allocation
Number	84,667
Market value in DKK (calculated in accordance with Black & Scholes)	1,374,992

Name	John Bennett-Therkildsen
Reason	Executive Vice President, Operations, in compliance with article 28a (2.2.) of the Danish Securities Trading Act
Issuer	Bang & Olufsen a/s
Type	Option
Transaction	Allocation
Number	35,500
Market value in DKK (calculated in	576,520
accordance with Black & Scholes)

27 SEPTEMBER 2010

BANG & OLUFSEN A/S ANNOUNCEMENT NO. 10.05

Name	Christian Winther
Reason	Executive Vice President, Sales and Marketing, in compliance with article 28a (2.2.) of the Danish Securities Trading Act
Issuer	Bang & Olufsen a/s
Type	Option
Transaction	Allocation
Number	35,500
Market value in DKK (calculated in accordance with Black & Scholes)	576,520

Name	Henning Bejer Beck
Reason	Executive Vice President, CFO, in compliance with article 28a (2.2.) of the Danish Securities Trading Act
Issuer	Bang & Olufsen a/s
Type	Option
Transaction	Allocation
Number	35,500
Market value in DKK (calculated in accordance with Black & Scholes)	576,520

Kim Hyldahl Hansen Director, Global Counsel

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Applications to this announcement to be made to: Director, Global Counsel Kim Hyldahl Hansen, Phone +45 9684 5167