22/02/2012 17:46:28

DSV, 436 - Statement of insiders' trading in DSV shares

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Stock Exchange Announcement No. 436

Pursuant to the Securities Trading Act notice is hereby given that the

following transactions have been carried out:

Name Jens Bjørn Andersen

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Reason CEO

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Issuer DSV A/S

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ID Code DK0060079531

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Nature of transaction Exercise of share options granted in year 2007

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Trade date 21 February 2012

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Number of shares 25,000

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Market price (DKK) 2,437,500

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Name Jens H. Lund

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Reason CFO

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Issuer DSV A/S

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ID Code DK0060079531

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Nature of transaction Exercise of share options granted in year 2007

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Trade date 21 February 2012

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Number of shares 50,000

---------------------------------------------------------------------

Market price (DKK) 4,875,000

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Name Jens Bjørn Andersen

------------------------------------------

Reason CEO

------------------------------------------

Issuer DSV A/S

------------------------------------------

ID Code DK0060079531

------------------------------------------

Nature of transaction Shares - Sale

------------------------------------------

Trade date 21 February 2012

------------------------------------------

Number of shares 25,000

------------------------------------------

Market price (DKK) 3,190,057

------------------------------------------

Name Jens H. Lund

---------------------------------------

Reason CFO

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Issuer DSV A/S

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ID Code DK0060079531

---------------------------------------

Nature of transaction Shares - Sale

---------------------------------------

Trade date 21 February 2012

---------------------------------------

Number of shares 53,235

---------------------------------------

Market price (DKK) 6,791,311

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Name Jens H. Lund

---------------------------------------

Reason CFO

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Issuer DSV A/S

---------------------------------------

ID Code DK0060079531

---------------------------------------

Nature of transaction Shares - Sale

---------------------------------------

Trade date 22 February 2012

---------------------------------------

Number of shares 48,135

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Market price (DKK) 5,986,334

---------------------------------------

Any questions may be addressed to Flemming Ole Nielsen, Investor Relations

Manager, tel. +45 43 20 30 40.

Yours sincerely,

DSV

Flemming Ole Nielsen

Investor Relations Manager

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