Announcement to the Copenhagen Stock Exchange

Aarsleff has agreed on a settlement with Insituform Technologies, Inc. (ITI), which through several years has sued Aarsleff for payment of license fees in connection with terminated license agreements. The settlement involves a payment from Aarsleff to ITI of USD 8.5 million. As a result of the settlement, Aarsleff’s own intellectual rights are future-proof.

As previously informed, Aarsleff has made estimated provisions concerning the proceedings which have been pending at the court of Tennessee, USA.

The settlement means that the annual results for the financial year 2007/2008 now are reduced from the expected DKK 290 million to approx. DKK 280 million before tax.

The preliminary announcement of financial statements will be available on 19 December 2008.