4 December 2008 Trading report No. 05/2008 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: Christian Sagild Reason: Group Managing Director Issuer: Topdanmark A/S ISIN code: 1025953 Designation: Shares Transaction: Exercise of share options Trade date: 2 December 2008 Market: OMX Nordic Exchange, Copenhagen Number: 7,000 Share price (DKK): 4,711,210 Name: Christian Sagild Reason: Group Managing Director Issuer: Topdanmark A/S ISIN code: 1025953 Designation: Shares Transaction: Sale Trade date: 3 December 2008 Market: OMX Nordic Exchange, Copenhagen Number: 7,000 Share price (DKK): 4,774,560 Pre-tax net gain after strike (DKK): 3,360,000 Please direct any queries to: Steffen Heegaard, Communication and IR Manager Mobile: +45 4025 3524