Company Announcement No. 603



On 30 April 2015, DSV A/S initiated the previously announced share buy-back
programme, cf. company announcement No. 594 of 30 April 2015. According to the
programme DSV A/S will in the period from 30 April to 23 July 2015 purchase own
shares up to a maximum value of DKK 500,000,000 and no more than 3,000,000
shares, corresponding to 1.71% 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              1,768,500               228.02  403,248,850
 days 1-42                                                                      
43: 6 July 2015                         30,000               216.74    6,502,299
44: 7 July 2015                         30,000               216.47    6,494,088
45: 8 July 2015                         30,000               217.97    6,539,226
46: 9 July 2015                         20,000               222.15    4,442,946
47: 10 July 2015                        25,000               225.70    5,642,480
48: 13 July 2015                        30,000               229.41    6,882,417
49: 14 July 2015                        16,000               231.23    3,699,680
--------------------------------------------------------------------------------
Accumulated for trading              1,949,500               227.47  443,451,986
 days 1-49                                                                      



As at today, DSV A/S holds a total of 6,883,699 shares of a nominal value of
DKK 1 in DSV A/S, corresponding to 3.93% of the total number of issued shares
of 175,000,000. 


Any questions may be addressed to Flemming Ole Nielsen, Director, Investor
Relations, on tel. +45 43 20 33 92. 





Yours sincerely,

DSV A/S