Enclosed please find an announcement from Knud Højgaards Fond. The rearrangement of previous loan commitments will be considered a transaction between related parties.

Best regards, Højgaard Holding A/S     Ditlev Fløistrup CEO  

Søren Bjerre-Nielsen, chairman of the board, Højgaard Holding, tel. +45 4052 0724

                            Sten Scheibye, chairman of the board, Knud Højgaards Fond, tel. +45 3075 5050                                

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