Company Announcement No. 565


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  DKK
                                   bought back                price             
Accumulated for trading              1,941,089               172.48  334,789,537
 days 1-42                                                                      
43: 8 October 2014                      55,000               158.07    8,693,999
44: 9 October 2014                      40,000               158.62    6,344,768
45: 10 October 2014                     40,000               153.19    6,127,648
46: 13 October 2014                     34,070               153.58    5,232,522
47: 14 October 2014                     50,000               155.77    7,788,590
48: 15 October 2014                     40,000               155.61    6,224,360
49: 16 October 2014                     47,000               151.65    7,127,653
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Accumulated for trading              2,247,159               170.14  382,329,076
 days 1-49                                                                      
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As at today, DSV A/S holds a total of 6,343,320 shares of a nominal value of
DKK 1 in DSV A/S, corresponding to 3.58% 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