Company Announcement No. 559



On 11 August 2014, DSV A/S initiated the previously announced share buy-back
programme, cf. company announcement No. 557 of 30 July 2014. According  to the
programme DSV A/S will in the period from 11 August to 27 October 2014 purchase
own shares up to a maximum value of DKK 400,000,000 and no more than 4,000,000
shares, corresponding to 2.26% 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
                                   bought back                 price         DKK
1: 11 August 2014                       45,000                171.85   7,733,021
2: 12 August 2014                       52,000                172.64   8,977,441
3: 13 August 2014                       45,000                174.06   7,832,556
4: 14 August 2014                       35,574                173.51   6,172,491
5: 15 August 2014                       59,989                175.38  10,520,691
6: 18 August 2014                       23,816                176.22   4,196,763
7: 19 August 2014                       60,000                177.46  10,647,720
--------------------------------------------------------------------------------
Accumulated for trading                321,379                174.50  56,080,682
 days 1-7                                                                       





As at today, DSV A/S holds a total of 4,458,540 shares of a nominal value of
DKK 1 in DSV A/S, corresponding to 2.52% 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