January 29, 2015

Company Announcement No. 580

On 6 November 2014, DSV A/S initiated the previously announced share buy-back programme, cf. company announcement No. 569 of 29 October 2014. According  to the programme DSV A/S will in the period from 6 November 2014 to 29 January 2015 purchase own shares up to a maximum value of DKK 300,000,000 and no more than 3,000,000 shares, corresponding to 1.69% of the current share capital of DSV A/S. The programme has been implemented in accordance with the 'Safe Harbour' provisions of EU Regulation No. 2273/2003 of 22 December 2003. DSV will therefore publish the accumulated purchases under the share buy-back programme every 7th trading day.

Trading day
 Number of shares bought back Average transaction price Amount  DKK
Accumulated for trading days 1-49 1,253,000 185.92 232,961,224
50: 21 January 2015 50,000 196.73 9,836,500
51: 22 January 2015 50,000 198.16 9,908,000
52: 23 January 2015 40,000 200.21 8,008,400
53: 26 January 2015 57,000 202.71 11,554,470
54: 27 January 2015 48,569 204.14 9,914,876
55: 28 January 2015 51,431 203.78 10,480,609
56: 29 January 2015 35,700  204.99 7,318,143
Accumulated for trading days 1-56 1,585,700 189.18 299,982,222

The share buyback programme announced has now been concluded and the shares bought back will be used partly to hedge the Group's incentive scheme. At DSV's general meeting it will be proposed that shares not used for hedging of the incentive scheme will be cancelled.

As at today, DSV A/S holds a total of 7,519,797 shares of a nominal value of DKK 1 in DSV A/S, corresponding to 4.25% of the total number of issued shares of 177,000,000.

Any questions may be addressed to Flemming Ole Nielsen, Director, Investor Relations, on tel. +45 43 20 33 92.

Yours sincerely,

DSV A/S






distributed by