Summary: •On 5 June 2008, the Supervisory Board of TK Development decided to exercise its authorization to launch an incentive scheme. At the Annual General Meeting on 27 May 2008, the Supervisory Board of TK Devel-opment was authorized to issue warrants for a total of up to nominally DKK 14,000,000 (700,000 shares of DKK 20 each) to the Executive Board and other executive staff members in the Group. On 5 June 2008, the Supervisory Board decided to exercise this authorization to launch an incentive scheme, thus granting 170,000 warrants to the Executive Board and 528,000 warrants to other executive staff members, thereby granting a total 698,000 warrants. Under the four-year warrant scheme, warrants can be exercised at the earliest three years after the grant date, and any shares subscribed for are subject to an additional lock-up period of up to three years. This means that shares up to a market value equal to the subscription amount, plus tax liability, can be disposed of without limitation, while shares in excess of such amount can be disposed of, at the earliest, during six trading windows in the three-year lock-up period, such that up to 1/6 of such shares can be disposed of during each window. The above-mentioned 698,000 warrants correspond to 2.5 % of the share capital. The warrants can be exercised during three six-week periods as follows: After publication of the preliminary announcement of annual results for the 2010/11 financial year (from about 30 April 2011), after publication of the interim announcement of results for the first half of the 2011/12 financial year (from about 30 September 2011) and after publication of the preliminary announcement of annual results for the 2011/12 financial year (from about 30 April 2012). The exercise price will be fixed on the basis of the average listed market price during the period 9-20 June 2008, with an annual 8 % adjustment to reflect an advance return to existing shareholders. Further information is available from Frede Clausen, President and CEO, tel. +45 88 96 10 10.