The Public Prosecutor drops charges against TK Development A/S

Summary:

• The Public Prosecutor for Serious Economic Crime has dropped the charges
against TK Development A/S, its management and auditors. 


As previously stated in stock exchange announcement no. 19/2005 and no.
20/2005, the Public Prosecutor for Serious Economic Crime charged TK
Development A/S and six individuals with fraudulent income recognition and
price manipulation concerning periods covering the 2000/01 to 2003/04
financial years. Subsequently, charges were also brought against two of the
Company's former auditors. 

Today, the Public Prosecutor has announced that the charges against the
company, its management and auditors have been dropped. 

Management has throughout been convinced that the charges were based on
misconceptions concerning the Group's accounting policies. Therefore, it is
gratifying for TK Development's Management that the Public Prosecutor's
investigations have resulted in the charges being dropped. 


Further information is available from Frede Clausen, President and CEO, on tel.
+45 8896 10 10.