DSV

Transaction in Own Shares • Mar 4, 2011

Company Announcement No. 379

On 24 February 2011, DSV initiated the published share buy-back programme, cf.
company announcement no. 377 of 24 February 2011. According to the programme
DSV will in the period to 28 April 2011 purchase own shares up to a maximum
value of DKK 500,000,000 and no more than 6,000,000 shares, corresponding to
2.87% of the present share capital of DSV A/S. 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 Average transaction Amount DKK
bought back price
1: 24 February 2011 111,698 117.07 13,076,485
2: 25 February 2011 98,302 120.42 11,837,527
3: 28 February 2011 95,594 123.29 11,785,784
4: 1 March 2011 184,406 123.59 22,790,738
5: 2 March 2011 22,560 119.80 2,702,688
6: 3 March 2011 70,036 123.66 8,660,652
7: 4 March 2011 113,592 125.16 14,217,175

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Accumulated for 696,188 122.20 85,071,048
trading 1-7

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DSV's accumulated share buy-backs in the period from 24 February 2011 to 4
March 2011 thus total 696,188 numbers of shares at a total purchase sum of 85,1
DKK million.

As of today, DSV A/S now holds a total of 5,597,749 shares of a nominal DKK 1
in DSV A/S corresponding to 2.68% of the total number of issued shares of
209,150,000.

The last announcement dated 24 February 2011 stated that DSV A/S held 2.41% 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