Trading by insiders in Novozymes A/S B shares

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

ISIN Trading date Number of shares traded, net
December 4, 2003       908
Market value of number of shares traded, net
Total number of shares held by insiders Market value of shares held by insiders
DKK 201,122 130,411 28,951,242

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