Trading by insiders in Novozymes A/S B shares

In accordance with Section 37 of the Danish Securities Trading Act, Novozymes hereby reports the following:

ISIN Trading date Number of shares traded, net
May 23, 2003        +1,785
Market value of number of shares traded, net
Total number of shares held by insiders Market value of shares held by insiders
DKK 298,095 140,375 24,986,750

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