NOT FOR GENERAL RELEASE IN THE UNITED STATES
Carlsberg A/S' rights issue has been completed on April 20, 2004. The rights issue has been fully subscribed. 15,215,680 offered new series B shares of DKK 20 nominal value each have been subscribed at DKK 225 per share. As is customary, a small number of the offered shares (0.1 %), which at first were not taken up due to technical reasons, were subscribed for by the underwriters.
Following registration of 15,215,680 new series B shares of nominal value DKK 20 each and cancellation of 2,843,559 existing treasury shares, the nominal value of Carlsberg A/S' share capital totals DKK 1,525,568,060 divided into 33,699,252 series A shares of nominal value DKK 20 each (total series A nominal value is DKK 673,985,040) and 42,579,151 series B shares of nominal value DKK 20 each (total series B shares nominal value is DKK 851,583,020).
This announcement does not constitute an offer or invitation to subscribe for or purchase any securities for sale in the United States. Securities in respect of the capital increase may not be offered or sold in the United States absent registration or an exemption from registration. The securities in respect of the capital increase have not been and will not be registered under the Securities Act of 1933 or under the securities laws of any state of the United States. Carlsberg does not intend to make a public offering of securities in the United States.
This announcement must not be mailed, or otherwise forwarded, distributed or sent in, into or from the United States, and persons receiving this announcement (including custodians, nominees and trustees) must not mail or otherwise forward, distribute or send it in, into or from the United States.
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This announcement is available in Danish and English. In case of doubt the Danish version shall prevail.
Mikael Bo Larsen, +45 33 27 1223
Margrethe Skov, +45 33 27 1410