15 April 2008 Announcement No. 09/2008 The Annual General Meeting was held in accordance with the published agenda, and the Annual Report including the proposal submitted by the Board of Directors for the appropriation of the result for the financial year was adopted. Accordingly, the AGM adopted the proposal submitted by the Board of Directors for reducing the Company's share capital by a total of 240,000 shares which had been bought back since 13 December 2007. The reduction in share capital will be at a stock market price of DKK 728.30 per share and a total of DKK 174,791,604 will be transferred from the Company's tied-up capital to its free reserves. On 16 April 2008 the reduction in capital will be reported to the Danish Commerce and Companies Agency and in practice, the reduction will be effected on the expiry of the three-month time limit for filing objections. After the reduction the share capital will be DKK 166,563,500. Furthermore, the proposals submitted by the Board of Directors for amending the Articles of Association on the renewal of the granting of authorisation to the Board of Directors to issue shares, employee shares, convertible bonds and warrants as well as on the venue, the authorisation to acquire own shares, the performance-related pay to the Board of Management and other executives and the increase in the remuneration for the Board of Directors were all adopted. All the Board members - Jørgen Ajslev (Industrial Advisor), Anders Knutsen (Chairman), Jens Maaløe (CEO), Michael Pram Rasmussen (Chairman), Annette Sadolin (Board Member) and Knud J. Vest (Fur Farmer) - were re-elected. The Board of Directors elected Michael Pram Rasmussen as Chairman and Anders Knutsen as Deputy Chairman from among its members. The Company's auditor, Deloitte, Statsautoriseret Revisionsaktieselskab, was re-elected. Topdanmark continues to expect a post-tax profit of DKK 750 - 850m for 2008 (see announcement No. 03/2008). This is based on assumptions including unchanged foreign exchange rates, an annual 7.0% return on the equity portfolios given the level of equity prices on 6 March 2008 as well as a return on interest-bearing investments of 5.2% (risk-free interest rate plus an allowance for risk of 0.75 percentage points). For 2008 Topdanmark continues to expect a share buy-back of around DKK 1,050m. To date this year Topdanmark has already bought back own shares of DKK 309m, which leaves a balance of DKK 741m of the share buy-back programme for the remainder of the year. Please direct any queries to: Steffen Heegaard, Communication and IR Manager Mobile +45 4025 3524