Company Announcement No. 482

On 25 October 2012, DSV initiated the previously announced share buy-back
programme, cf. company announcement No. 476 of 25 October 2012. According to
the programme DSV will in the period from 25 October to 21 December 2012
purchase own shares up to a maximum value of DKK 300,000,000 and no more than
3,000,000 shares, corresponding to 1.60% 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  Average transaction  Amount  DKK
                                   bought back                price             
Accumulated for trading              1,635,437               131.48  215,020,868
 days 1-28                                                                      
29: 4 December 2012                     45,000               134.54    6,054,300
30: 5 December 2012                          -                    -            -
31: 6 December 2012                     10,000               138.52    1,385,200
32: 7 December 2012                     29,225               138.95    4,060,814
33: 10 December 2012                    50,000               138.90    6,945,000
34: 11 December 2012                    57,000               140.40    8,002,800
35: 12 December 2012                    60,000               139.08    8,344,800
--------------------------------------------------------------------------------
Accumulated for trading              1,886,662               132.41  249,813,782
 days 1-35                                                                      
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DSV's accumulated share buy-backs in the period from 25 October 2012 to 12
December 2012 thus total 1,886,662 shares at a total purchase sum of DKK 249.8
million. 

As at today, DSV A/S holds a total of 9,600,714 shares of a nominal value of
DKK 1 in DSV A/S, corresponding to 5.11% of the total number of issued shares
of 188,000,000. 

The latest announcement dated 3 December 2012 stated that DSV A/S held 5.00% of
the Company's share capital. 

Any questions may be addressed to Flemming Ole Nielsen, Investor Relations
Director, tel. +45 43 20 30 40. 



Yours sincerely,
DSV


Flemming Ole Nielsen
Investor Relations Director