DSV

Transaction in Own Shares • Jun 22, 2007

The Copenhagen Stock Exchange Nikolaj Plads 6 DK-1007 Copenhagen – Electronic reporting 21 June 2007

STOCK EXCHANGE ANNOUNCEMENT NO. 246

Share buy-back in DSV A/S

On 30 April 2007, DSV initiated the published share buy-back programme, cf. stock exchange announcement no. 234 of 30 April 2007. According to the programme DSV will in the period to 31. July 2007 purchase own shares for an amount of up to a maximum of DKK 400 million. 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 1-28	1,426,200	113.60	162,015,676
29: 13 June 2007	85,000	108.45	9,218,250
30: 14 June 2007	75,000	109.50	8,212,500
31: 15 June 2007	45,000	108.77	4,894,650
32: 18 June 2007	68,000	109.98	7,478,640
33: 19 June 2007	21,000	109.49	2,299,290
34: 20 June 2007	71,017	109.39	7,768,550
35: 21 June 2007	169,000	107.05	18,091,450
Accumulated for trading day 1-35	1,960,217	112.22	219,979,006

DSV's accumulated share buy-backs in the period from 30 April 2007 to 21 June 2007 thus total 1,960,217 number of shares at a total purchase sum of 220.0 DKK million

As a result of the above transactions, DSV A/S now holds a total of 6,05,827 shares of a nominal DKK 1 in DSV A/S corresponding to 3.02% of the total number of issued shares of 201,500,000.

The last announcement dated 12 June 2007 stated that DSV A/S held 2.76% of the company's share capital.

Questions should be addressed to Jens H. Lund, CFO, tel. +45 43 20 30 40.

Yours sincerely DSV

Kurt K. Larsen Jens H. Lund Managing Director CFO

DSV A/S, Kornmarksvej 1, DK-2605 Brøndby, tel. +4543203040, fax +4543203041, CVR no. 58233528, www.dsv.com.

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