As announced in the Annual Report 2010 (announcement no. 2/2011), the employees
of the Alm. Brand Group were offered employee shares against a salary reduction
for the period end March 2011 to end February 2012. The employee shares are
granted on 29 February 2012. 



Effective 29 February 2012, 324,697 employee shares will be granted based on
the average market price of 11.04 on 29 February 2012. 



Please direct any questions regarding this announcement to Søren Boe Mortensen,
Chief Executive, on tel. +45 35 47 79 07 or Susanne Biltoft, Head of
Information and Investor Relations, on tel. +45 35 47 76 61. 

Yours sincerely,

Alm. Brand A/S



Søren Boe Mortensen
Chief Executive