Genmab — Share Issue/Capital Change 2008

Dec 17, 2008

GRANT OF WARRANTS IN GENMAB A/S

Summary: Genmab A/S' board of directors grants 39,500 warrants to employees of the company as well as the company's subsidiaries.

Copenhagen, Denmark; December 17, 2008 – Genmab A/S (OMX: GEN) announced today that on a board meeting the board decided to issue 39,500 warrants to employees of the company as well as the company's subsidiaries

The exercise price for each warrant is DKK 234.75. Each warrant entitles the owner to subscribe one share of nominally DKK 1. On the basis of an exercise price of DKK 234.75 and by application of the Black-Scholes formula, the average value of each warrant can be calculated as DKK 78.63 based on an interest rate of 3.80% and the historical volatility of Genmab A/S shares calculated at 28.57%.

The warrants vest in blocks of 25% one, two, three and four years after the grant date, and all warrants expire at the tenth anniversary of the grant date. The new warrants were granted pursuant to the warrant plan adopted by the board on August 3, 2004. Information concerning Genmab's warrant schemes can be found on www.genmab.com under the heading 'warrant scheme'.

About Genmab A/S

Genmab is a leading international biotechnology company focused on developing fully human antibody therapeutics for the potential treatment of cancer. Genmab's world class discovery, development and manufacturing teams are using cutting-edge technology to create and develop products to address unmet medical needs. Our primary goal is to improve the lives of patients who are in urgent need of new treatment options. For more information on Genmab's products and technology, visit www.genmab.com.

This press release contains forward looking statements. The words "believe", "expect", "anticipate", "intend" and "plan" and similar expressions identify forward looking statements. Actual results or performance may differ materially from any future results or performance expressed or implied by such statements. The important factors that could cause our actual results or performance to differ materially include, among others, risks associated with product discovery and development, uncertainties related to the outcome and conduct of clinical trials including unforeseen safety issues, uncertainties related to product manufacturing, the lack of market acceptance of our products, our inability to manage growth, the competitive environment in relation to our business area and markets, our inability to attract and retain suitably qualified personnel, the unenforceability or lack of protection of our patents and proprietary rights, our relationships with affiliated entities, changes and developments in technology which may render our products obsolete, and other factors. For a further discussion of these risks, please refer to the section "Risk Management" in Genmab's Annual Report, which is available on www.genmab.com. Genmab does not undertake any obligation to update or revise forward looking statements in this press release nor to confirm such statements in relation to actual results, unless required by law.

GRANT OF WARRANTS IN GENMAB A/S

Genmab® ; the Y-shaped Genmab logo® ; HuMax® ; HuMax-CD20® ; HuMax-EGFr™; HuMax-IL8™; HuMax-TAC™; HuMax-HepC™; HuMax-CD38™; HuMax-CD32b™ and UniBody® are all trademarks of Genmab A/S.

Contact: Helle Husted, Sr. Director, Investor Relations T: +45 33 44 77 30; M: +45 25 27 47 13; E: hth@genmab.com

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