Q2 Financial Statement of the Carlsberg Group as at 30 June 2003

VALBY, Denmark, August 15, 2003 (PRIMEZONE) -- Carlsberg A/S (Other OTC:CABHF):

 *       As in Q1, the first part of Q2 was characterised by
   reluctance in consumers' propensity to spend due to the overall
   economic uncertainty and the decline in the currency rates.

 *       However, the conclusion of the war in Iraq at the end of Q2
   and the reduced fear of SARS, especially in Asia, led to increased
   consumer confidence and positive sales developments in June and
   July.

1st half-year:

 *       Beer volume rose by 3%.

 *       Operating profit (EBITA) amounted to DKK 1,248m against DKK
   1,814m last year.

 *       Profit before goodwill was DKK 687m against DKK 943m last
   year.

 *       Operational cash flow was DKK 2.1bn.

 *       Interest-bearing debt was reduced by DKK 0.4bn.

 *       Expectations to the annual results as expressed in the
   Q1/2003 financial statement are maintained.

Read the entire announcement to the Copenhagen Stock Exchange in enclosed attachment http://reports.huginonline.com/913927/121653.pdf