The Copenhagen Stock Exchange Nikolaj Plads 6 DK-1007 Copenhagen - Electronic reporting 23 March 2007 STOCK EXCHANGE ANNOUNCEMENT NO. 232 2006 Annual Report (1 January-31 December 2006) Revenue amounted to DKK 31,972 million. Gross profit came to DKK 6,904 million. Operating profit before special items was DKK 1,504 million. Operating profit (EBIT) came to DKK 1,221 million. Profit before tax amounted to DKK 1,014 million. Profit for the period amounted to DKK 719 million. DSV's share of the profit for the period amounted to DKK 677 million. Diluted adjusted earnings per share amounted to DKK 45.3. Free cash flow for the period adjusted for the acquisition of enterprises and activities inclusive normalisation of net working capital amounted to DKK 1,174 million. Group Management considers the results for the financial year ended 31 December 2006 very satisfactory. The Supervisory Board proposes a dividend of DKK 2.50 per share as opposed to dividend of DKK 2.50 per share in 2005. The printed Annual Report is expected to be available no later than week 16, 2007. Investor teleconference DSV invites investors, shareholders, analysts and others to participate in an investor teleconference on 23 March 2007 at 11:00 a.m. The phone number for the teleconference is +45 70 26 50 40. The conference will be in English. No prior registration is required to attend the teleconference. Web-based investor teleconference The teleconference can be viewed directly at the DSV website http://www.dsv.com or via the Copenhagen Stock Exchange http://omxgroup.com/nordicexchange/. Questions can only be asked by telephone. Inquiries relating to the Annual Report Questions may be addressed to: Kurt K. Larsen, Group CEO, tel. +45 43 20 30 40, or Jens H. Lund, CFO, tel. +45 43 20 30 40. This announcement has been forwarded to the Copenhagen Stock Exchange and to the press. It is also available on http://www.dsv.com. The announcement has been prepared in Danish and in English. In the event of discrepancies, the Danish version shall apply. Yours sincerely DSV Kurt K. Larsen Jens H. Lund Managing Director CFO