This is a notification of changes in the shareholdings of the company's management employees, who are obligated to give and pass on notifications, pursuant to the Danish Securities Trading Act. Name: Knud Olesen Reason: Member of the Board of Directors, in compliance with article 28 a (2.1.) of the Danish Securities Trading Act Issuer: Bang & Olufsen a/s ISIN: DK0010218429 Designation: Shares Nature of Transaction: Purchase (Grant of employee shares) Trading Date: 30th of October 2008 Market: OMX Nordic Exchange Copenhagen A/S Number: 16 Market price (DKK): 1.984 Kim Bo Hansen Director, Global Counsel For any further information, please contact: Director, Global Counsel Kim Bo Hansen, tel.: +45 9684 5167.