Investeringsselskabet Luxor A/S
Annual Financial Report

Company Announcement No 2 2016/17

The Supervisory Board of Investeringsselskabet Luxor A/S has today considered
and adopted the Company’s Annual Report for 2015/16. 

Comments to the Annual Report:

  -- Basic earnings for the financial year increased from DKK 24.1 million in
     2014/15 to DKK 31.1 million in 2015/16, which is in accordance with Company
     Announcement of 24 November 2016. The improvement is primarily attributable
     to an increase in net financial income as well as increased capital gains
     and improvements of losses and fair value adjustment of credit risk on the
     Group’s mortgage deeds.

  -- The Group’s results before tax for the financial year show a profit of DKK
     29.1 million (DKK
     -10.2 million). After tax, the Group shows a profit of DKK 22.1 million
     (DKK -8.5 million).

The results for the year are affected by net positive fair value adjustments
and realised losses on bonds including currency hedging of DKK 8.1 million,
negative fair value adjustments of interest swaps and debt to mortgage credit
institutes of DKK -7.5 million as well as fair value adjustments of investment
properties, DKK -2.1 million. 

  -- The net asset value per share in circulation isDKK 356.35 (DKK 354.29).

  -- The Supervisory Board proposes to the General Meeting that dividend of DKK
     25.0 million (DKK 20.0 million) be distributed, corresponding to DKK 25.0
     (DKK 20.0) per share.

  -- For the coming financial year 2016/17, basic earnings of approx. DKK 24.0
     million are expected. Fair value adjustments and realised losses and gains
     on bonds, foreign currencies and interest swaps, etc are not included in
     basic earnings and will at 7 December 2016 affect results for the year
     before tax positively by DKK 4.8 million.

Fourth quarter of the financial year2016:

  -- Basic earnings for the quarter amount to DKK 6.8 million, which is in line
     with the fourth quarter of the financial year 2015.

  -- The Group’s results before tax for the fourth quarter of the financial year
     2016 show a profit of DKK 9.7 million (DKK -15.9 million). After tax, the
     Group shows a profit of DKK 7.0 million (DKK -13.0 million).

The results for the quarter are affected positively by DKK 4.7 million (DKK
-21.4 million) relating to net positive fair value adjustments and realised
gains/losses on bonds as well as fair value adjustments of investment
properties, DKK -2.1 million. 

For additional information concerning the Annual Report, please contactthe
undersigned. 


         Jannik Rolf Larsen, CEO