Copenhagen Stock Exchange Index Factors 1 and 2

On the basis of the development of the net consumer-price index from November 2002 to May 2003 and the development of the summary index of earnings in the private sector during the same period new index factors have been calculated and will be effective as from 30 June 2004:

• Index factor 1, owner-occupied dwelling, principal: 173.924
• Index factor 2, subsidised housing, principal: 150.290