Announcement to The Copenhagen Stock Exchange

On 28 January 2005 the financial statements of Per Aarsleff A/S were approved by the Annual General Meeting, including the 12% dividend of the share capital as proposed by the Board of Directors.

It was decided to authorise the Board, until the next general meeting, to allow the company to acquire own shares within a total nominal value of 10% of the company share capital, cf. the Danish Financial Statements Act S. 48. The consideration shall not be allowed to deviate by more than 10% from the closing price quoted on the Copenhagen Stock Exchange at the date of acquisition.

The Board of Directors was re-elected, consisting of:

Palle Svejstrup – Chairman

Jens Bigum

Carsten Fode

Niels S. Møller

Boris Andersen (elected by the employees)

Leif Endersen (elected by the employees)

Jens M. Jørgensen (elected by the employees)

The audit firm Revisionsfirmaet PricewaterhouseCoopers was re-elected. The audit firm Revisionsfirmaet Villy Pedersen was elected in replacement of the audit firm Revisionsfirmaet Arnfred Hansen.