DSV

Director's Dealing • May 10, 2011

Stock Exchange Announcement No. 391

Pursuant to the Securities Trading Act notice is hereby given that the
following transaction has been carried out:

Name Erik B. Pedersen

Reason Member of the Supervisory Board

Issuer DSV A/S

ID Code DK0060079531

Nature of transaction Shares - Sale

Trade date 10 May 2011

Number 80,000

Market price (DKK) 10,484,000

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

Yours sincerely,

DSV

Jens Bjørn Andersen Jens H. Lund
CEO CFO