DSV A/S
Changes in company's own shares

DSV, 590 - Share Buyback in DSV A/S and reduction of share capital in DSV A/S

Reduction of share capital

At DSV's Annual General Meeting on 12 March 2015 a resolution was passed,
following a proposal by the Board of Directors, to reduce the share capital by
a nominal amount of DKK 2,000,000 through the cancellation of 2,000,000
treasury shares, corresponding to 2,000,000 voting rights. 

The announcement of the resolution was published through the IT information
system of the Danish Business Authority on 13 March 2015. 

At the expiry of the four-week time limit on 11 April 2015, no claims had been
filed requiring satisfaction or provision of security, and the reduction and
registration of the share capital has consequently been completed on 13 April
2015. 

Consequently, the share capital of DSV has a nominal value of DKK 175,000,000,
divided into 175,000,000 shares with a face value of DKK 1, corresponding to
175,000,000 voting rights. 



Share buy-back

On 19 February 2015, DSV A/S initiated the previously announced share buy-back
programme, cf. company announcement No. 582 of 6 February 2015. According  to
the programme DSV A/S will in the period from 19 February to 22 April 2015
purchase own shares up to a maximum value of DKK 200,000,000 and no more than
1,500,000 shares, corresponding to 0.85% of the share capital of DSV A/S at
that time. 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                600,995               215.10  129,275,893
 days 1-28                                                                      
29: 31 March 2015                       23,000               217.56    5,003,979
30: 1 April 2015                        20,000               217.69    4,353,882
31: 7 April 2015                        28,000               223.26    6,251,331
32: 8 April 2015                        23,000               224.91    5,172,900
33: 9 April 2015                        16,500               225.66    3,723,469
34: 10 April 2015                       25,000               232.80    5,820,000
35: 13 April 2015                       16,000               230.80    3,692,861
--------------------------------------------------------------------------------
Accumulated for trading                752,495               217.00  163,294,315
 days 1-35                                                                      
--------------------------------------------------------------------------------


As at today, DSV A/S holds a total of 5,469,792 shares of a nominal value of
DKK 1 in DSV A/S, corresponding to 3.13% 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