23 May 2007 Trading report No. 04/2007 To the Copenhagen Stock Exchange Trading in Topdanmark shares by insiders In accordance with Section 28(a) of the Danish Securities Trading Act, Topdanmark is required to publish details of the transactions in Topdanmark's shares and related securities effected by senior management and their connected persons. The following has been reported to Topdanmark: Name: Knud J. Vest Reason: Member of the Board of Directors Issuer: Topdanmark A/S ISIN code: 1025953 Designation: Shares Transaction: Purchase Trade date: 4 April 2007 Market: Copenhagen Stock Exchange Number.: 36 Share price in DKK: 39,276.00 Please direct any queries to: Steffen Heegaard, Communication and IR Manager Direct tel: +45 4474 4017, Mobile: +45 4025 3524