30 May 2008 Announcement No. 11/2008 A new period of exercise of warrants commenced at the publication of Topdanmark's Q1 2008 Report in the company announcement No. 10/2008. By the expiry of the subscription period the holders of the warrants have subscribed and paid for 11,500 shares at a price of DKK 478 per share. Consequently Topdanmark has today increased its share capital by 11,500 shares, giving an increase in nominal share capital of DKK 115,000. The total number of Topdanmark shares is now 16,907,850. The subscription proceeds of the issue were DKK 5,497,000. Please direct any queries to: Steffen Heegaard, Head of IR and Group Communications Direct tel: +45 4474 2017, Mobile: +45 4025 3524