Company Announcement No. 504

On 30 April 2013, DSV A/S initiated the previously announced share buy-back
programme, cf. company announcement No. 494 of 30 April 2013. According to the
programme DSV A/S will in the period from 30 April to 2 July 2013 purchase own
shares up to a maximum value of DKK 400,000,000 and no more than 4,000,000
shares, corresponding to 2.22% 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              2,077,846               138.62  288,023,074
 days 1-28                                                                      
29: 13 June 2013                        65,000               135.29    8,793,571
30: 14 June 2013                        57,698               136.80    7,892,781
31: 17 June 2013                        47,370               137.22    6,499,851
32: 18 June 2013                        72,854               138.13   10,062,944
33: 19 June 2013                        29,974               138.10    4,139,418
34: 20 June 2013                        89,563               135.56   12,140,981
35: 21 June 2013                        60,268               135.56    8,169,846
--------------------------------------------------------------------------------
Accumulated for trading              2,500,573               138.26  345,722,466
 days 1-35                                                                      
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DSV A/S' accumulated share buy-backs in the period from 30 April 2013 to 21
June 2013 thus total 2,500,573 shares at a total purchase sum of DKK 345.7
million. 

As at today, DSV A/S holds a total of 3,289,184 shares of a nominal value of
DKK 1 in DSV A/S, corresponding to 1.83% of the total number of issued shares
of 180,000,000. 

The latest announcement dated 12 June 2013 stated that DSV A/S held 1.59% 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 A/S