Incentive programme

Company announcement 5 / 2008





15 April 2008



Incentive programme

On 14 April, share options were granted to other executives.

Three times two share options were granted, entitling the holders to acquire
two times 650 shares; two times 3,700 shares; and two times 650 shares of a
nominal value of DKK 20.00 each in PARKEN Sport & Entertainment A/S. Thus a
total of 10,000 shares may be acquired. 

The exercise price has been agreed at DKK 1,057.31 per share of DKK 20.
Section 7 H of the Danish Tax Assessment Act shall apply. 

The first two share options may be exercised on 1 July 2008 and three weeks
forward; the subsequent two share options may be exercised on 1 July 2009 and
three weeks forward; and the last two share options may be exercised on 1 July
2010 and three weeks forward. 
In order to exercise the share options, executives must not be under notice of
termination at the time of exercise and they must comply with budget and bonus
targets. 

The market value of the first option granted has been calculated at DKK
273,000, based on the Black-Scholes model. This calculation is based on the
assumption of a dividend rate of 0, a volatility rate of 30%, a risk-free
interest rate of 4.30% and a time to expiration of 0.21 years. 

PARKEN Sport & Entertainment A/S



Flemming Østergaard
Chairman