Company announcement n0 46/2012–   10 september 2012



On 1 May 2012, Royal Unibrew initiated a share buy-back programme, cf. company
announcement no. 20/2012 of 30 April 2012. Cf. company announcement no. 42/2012
of 28 August 2012 the existing share buy-back programme has been increased and
extended.The programme was 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 1 May 2012 to 25 April 2013. The total share
buy-back in the period will not exceed a market price of DKK 210 million. 


The following transactions have been made under the programme:





                              Number    Average purchase     Transaction value, 
                                of            price                  DKK        
                              shares                                            
--------------------------------------------------------------------------------
Accumulated, last             177,435               384.83         68,281,808.51
 announcement                                                                   
--------------------------------------------------------------------------------
September  3, 2012                221               423.00             93,483.00
--------------------------------------------------------------------------------
September 4, 2012               1,450               430.00            623,500.00
--------------------------------------------------------------------------------
September 5, 2012               4,043               429.70          1,737,285.19
--------------------------------------------------------------------------------
September 6, 2012               2,688               430.07          1,156,026.01
--------------------------------------------------------------------------------
September 7, 2012               5,164               431.28          2,227,150.05
--------------------------------------------------------------------------------
Accumulated under the         191,001               388.06         74,119,252.76
 programme                                                                      
--------------------------------------------------------------------------------


With the transactions stated above, Royal Unibrew owns a total of 211,649
shares, corresponding to 2.0% of the share capital. The total amount of shares
in the company is 10,570,000 shares, 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