Opinion

In our opinion, the Consolidated Financial Statements and the Financial Statements give a true and fair view of the financial position of the Group and the Company at 31 December 2009 and of the results of the Group and Company operations and cash flows for the financial year 1 January - 31 December 2009 in accordance with International Financial Reporting Standards as adopted by the EU and additional Danish disclosure requirements for annual reports. Moreover, in our opinion, Management's Review includes a true and fair account of the development in the operations and financial circumstances of the Group and the Company, of the results for the year and of the financial position of the Group and the Company as well as a description of the most significant risks and elements of uncertainty facing the Group and the Company in accordance with Danish disclosure requirements for annual reports.

Copenhagen, 3 March 2010

PricewaterhouseCoopers

Statsautoriseret Revisionsaktieselskab

Lars Holtug
State Authorized Public Accountant
Torben Jensen
State Authorized Public Accountant