Reduction of share capital

At the Annual General Meeting on 29 April 2002 it was decided to reduce the Compnay's share capital by a nominal amount of DKK 2,425,000 or 5% from DKK 48,500,000 to DKK 46,075,000 by cancelling 121,250 own shares with a nominal value of DKK 20 each. This reduction of the share capital was implemented in 2002.