Company announcement No 54/2012–   22 October 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             262,814               403.17        105,958,066.23
 announcement                                                                   
--------------------------------------------------------------------------------
October 15, 2012                2,998               463.32          1,389,042.05
--------------------------------------------------------------------------------
October 16, 2012                5,098               475.00          2,421,550.00
--------------------------------------------------------------------------------
October 17, 2012                4,963               474.18          2,353,368.24
--------------------------------------------------------------------------------
October 18, 2012                1,131               473.13            535,105.05
--------------------------------------------------------------------------------
October 19, 2012                4,231               473.00          2,001,263.00
--------------------------------------------------------------------------------
Accumulated under the         281,235               407.70        114,658,394.58
 programme                                                                      
--------------------------------------------------------------------------------


With the transactions stated above, Royal Unibrew owns a total of 301,291
shares, corresponding to 2.9% 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