Stock Exchange announcement No. 15/2007 Codan A/S - ID code 1028863 - 8 Mandatory Acquisition of Shares in Codan A/S Not for release or distribution in or into Canada, Australia or Japan Today the Board of Directors of Codan A/S and RSA Overseas Holdings B.V. (“RSA”) have decided to initiate a mandatory acquisition of the remaining shares in Codan A/S (other than those held by RSA) in accordance with Section 20b of the Danish Public Companies Act. Reference is made to the mandatory acquisition notice attached hereto. For further information: ABN AMRO Bank N.V., Copenhagen Branch Amaliegade 35 P.O.Box 71 1003 Copenhagen K Denmark Tel: +45 3396 1200 Fax: +45 3396 1300 Analysts Press Shona Cotterill Phil Wilson-Brown/Sarah Hilyer +44(0)2071117212 +44 (0) 20 7111 7047/7327 Andrew Wigg Matthew Newton (Finsbury) +44(0)2071117138 +44 (0) 20 7251 3801 Yours Sincerely Codan A/S Vibeke Krag Company Secretary