DSV STOCK EXCHANGE ANNOUNCEMENT

Q3 2006 Report (1 January-30 September 2006)

Revenue amounted to DKK 23,262 million.

Gross profit came to DKK 5,004 million.

Operating profit before impairment of goodwill and special items totalled DKK 1,071 million.

Operating profit (EBIT) came to DKK 821 million.

Profit before tax amounted to DKK 665 million.

DSV's share of the profit for the period amounted to 441 million, and the fully diluted adjusted earnings per share amounted to DKK 31.

Free cash flow for the period adjusted for the acquisition of enterprises and activities amounted to DKK 710 million.

Group Management considers the results for the nine months ended 30 September 2006 very satisfactory.

The integration of Frans Maas Groep is progressing as planned. Free cash flow for 2006 adjusted for the acquisition of enterprises and activities is expected to be DKK 900 million as against the amount of DKK 800 million previously announced.


Please see complete announcement at the DSV website, http://www.dsv.com