Company announcement No 45/2011–   12 December 2011















On 1 December 2011, Royal Unibrew initiated a share buy-back programme, cf.
company announcement no. 41/2011 of 30 November 2011. The programme will be
implemented in accordance with the provisions of European Commission Regulation
no. 2273/2003 of 22 December 2003, also referred to as the Safe Harbour
Regulation. The share buy-back programme is expected to be realised in the
period from 01 December 2011 to 27 April 2012. The total share buy-back in the
period will not exceed a market price of DKK 60 million. 


The following transactions have been made under the programme:





                              Number    Average purchase     Transaction value, 
                                of            price                  DKK        
                              shares                                            
--------------------------------------------------------------------------------
Accumulated, last               4,973               300.93          1,496,546.73
 announcement                                                                   
--------------------------------------------------------------------------------
December 5, 2011                1,900               308.78            586,682.00
--------------------------------------------------------------------------------
December 6, 2011                1,900               303.45            576,555.00
--------------------------------------------------------------------------------
December 7, 2011                1,900               304.26            578,094.00
--------------------------------------------------------------------------------
December 8, 2011                1,700               299.09            508,453.00
--------------------------------------------------------------------------------
December 9, 2011                  600               297.41            178,446.00
--------------------------------------------------------------------------------
Accumulated under the          12,973               302.53          3,924,776.73
 programme                                                                      
--------------------------------------------------------------------------------


With the transactions stated above, Royal Unibrew owns a total of 472,021
shares, corresponding to 4.2% of the share capital. The total amount of shares
in the company is 11,186,498, including treasury shares. 



Please direct any queries to me at tel. +45 56 77 15 05.





Yours sincerely

Royal Unibrew A/S





Lars Jensen

CFO