Company announcement No 46/2011–   19 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              12,973               302.53          3,924,776.73
 announcement                                                                   
--------------------------------------------------------------------------------
December 12, 2011               4,000               292.10          1,168,400.00
--------------------------------------------------------------------------------
December 13, 2011               2,000               293.60            587,200,00
--------------------------------------------------------------------------------
December 14, 2011               4,000               293.51          1,174,040.00
--------------------------------------------------------------------------------
December 15, 2011               1,500               299.30            448,950.00
--------------------------------------------------------------------------------
December 16, 2011               2,300               300.32            690,736.00
--------------------------------------------------------------------------------
Accumulated under the          26,773               298.59          7,994,102.73
 programme                                                                      
--------------------------------------------------------------------------------


With the transactions stated above, Royal Unibrew owns a total of 485,821
shares, corresponding to 4.3% 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