Announcement to the Copenhagen Stock Exchange

Per Aarsleff A/S has entered into an agreement with the Danish Palaces and Properties Agency as well as Elsinore Municipality on execution of Project Kronborg Culture Harbour. The contract is a turnkey contract and has a value of DKK 140 million. The execution period is 24 months.

ProjectKronborg Culture Harbour is one of three large projects in connection with the development of an area for cultural events around Kronborg and Elsinore Harbour.  

ProjectKronborg Culture Harbourconcerns the harbour and adjacent harbour facilities. The idea is to create a closer link between Kronborg Castle, the future Culture Yard and Elsinore Harbour. The project includes renovation of the fortifications, establishment of a large shipyard site and a new waterfront.

The contract does not give rise to a change in the outlook for the profit for the financial year that ends on 30 September 2008.