Announcement to the Copenhagen Stock Exchange

On 22 December 2005, DSB (Danish State Railway) and a consortium consisting of Pihl & Søn and Aarsleff entered into a general contract on renovating the Copenhagen Central Station. The contracting consortium consists of Pihl & Søn A/S and Banekonsortiet I/S. Banekonsortiet I/S consists of Per Aarsleff A/S and Aarsleff’s wholly owned subsidiaries Wicotec A/S and Petri & Haugsted as. The Aarsleff Group’s share is 50%. The contract value amounts to DKK 389 million.

The general contract involves the following work:

• Extension of two platforms, including reconstruction, new access facilities, replacement of bearing structures etc.
• Lowering of two platforms, including earth, paving, new steel structures, relocation and modification of installations etc.
• Structural floor – renovation of structure beneath the station hall, new bearing steel structure
• Forecourt bridges – renovation and reinforcement on the upper and lower side of the forecourt itself and the two parallel street bridges etc.

The anticipated construction period is January 2006 to June 2008.

In the fall of 2005, the detailed planning of the project was implemented in cooperation between DSB, Carl Bro as the Client’s consultant and the Pihl/Aarsleff consortium.

The financial outcome of the contract is recognized in the previously announced expectations for Aarsleff’s result for the financial year 2005/2006.