On 6 November 2014, DSV A/S initiated the previously announced share buy-back
programme, cf. company announcement No. 569 of 29 October 2014. According  to
the programme DSV A/S will in the period from 6 November 2014 to 29 January
2015 purchase own shares up to a maximum value of DKK 300,000,000 and no more
than 3,000,000 shares, corresponding to 1.69% 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: 6 November 2014                      40,000                179.89   7,195,600
2: 7 November 2014                      40,000                179.89   7,195,600
3: 10 November 2014                     37,000                179.91   6,656,670
4: 11 November  2014                    33,000                180.79   5,966,070
5: 12 November 2014                     43,000                180.20   7,748,600
6: 13 November  2014                    30,000                180.54   5,416,200
7: 14 November 2014                     37,000                180.12   6,664,440
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Accumulated for trading                260,000                180.17  46,843,180
 days 1-7                                                                       
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As at today, DSV A/S holds a total of 6,651,597 shares of a nominal value of
DKK 1 in DSV A/S, corresponding to 3.76% 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