Pursuant to Section § 28a of the Danish Act on Securities Trading, Bavarian Nordic A/S shall make public transactions of shares and related securities of Bavarian Nordic A/S by persons holding managerial responsibilities and/or persons/companies closely associated with such. -------------------------------------------------------------------------------- | Name | A.J. Aamund A/S | -------------------------------------------------------------------------------- | Reason for | Closely related to the chairman of the Board of Bavarian | | transaction | Nordic A/S | -------------------------------------------------------------------------------- | Issuer | Bavarian Nordic A/S | -------------------------------------------------------------------------------- | ID code/ISIN | DK0060074300 | -------------------------------------------------------------------------------- | Description | Shares (new) | -------------------------------------------------------------------------------- | Transaction | Purchase/exercise of pre-emption rights | -------------------------------------------------------------------------------- | Trading date | 23 March 2007 | -------------------------------------------------------------------------------- | Market | Copenhagen Stock Exchange | -------------------------------------------------------------------------------- | Number | 221,400 | -------------------------------------------------------------------------------- | Market value | 80,811,000.00 | | (DKK) | | -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- | Name | Erling Johansen | -------------------------------------------------------------------------------- | Reason for | Member of the Board | | transaction | | -------------------------------------------------------------------------------- | Issuer | Bavarian Nordic A/S | -------------------------------------------------------------------------------- | ID code/ISIN | DK0060074300 | -------------------------------------------------------------------------------- | Description | Shares (new) | -------------------------------------------------------------------------------- | Transaction | Purchase/exercise of pre-emption rights | -------------------------------------------------------------------------------- | Trading date | 23 March 2007 | -------------------------------------------------------------------------------- | Market | Copenhagen Stock Exchange | -------------------------------------------------------------------------------- | Number | 399 | -------------------------------------------------------------------------------- | Market value | 145,635.00 | | (DKK) | | -------------------------------------------------------------------------------- Kvistgård, 23 March 2007 Asger Aamund Chairman Contacts: Peter Wulff, President & CEO Telephone: +45 33 26 83 83 About Bavarian Nordic A/S: Bavarian Nordic (CSE: BAVA) is a leading international biopharmaceutical company developing and producing innovative vaccines to prevent and treat infectious diseases and cancer. With operations in Denmark, Germany, the USA, and Singapore, Bavarian Nordic employs over 200 people. For more information please visit www.bavarian-nordic.com Stockwise Resumé Report of transactions of shares and related securities of Bavarian Nordic by persons holding managerial responsibilities and/or persons/companies closely associated with such
Report of transactions of shares and related securities of Bavarian Nordic by persons holding managerial responsibilities and/or persons/companies closely associated with such
| Source: Bavarian Nordic A/S
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