Pursuant to section 37, subsection 5 of the Danish Securities Trading Act, please note the following changes in insider shareholdings:
ID code/ISIN: DK 0010181759 - Carlsberg B
Trading date: 7 November 2002
Net number of shares traded: 850 shares acquired
Market value: DKK 277,950.-
Further information:
Hans Henrik Schmidt, Legal Counsel: +45 33 27 12 06