Stock Exchange Announcement nr. 4/2006

Codan A/S has publishe the attached announcement to the Copenhagen Stock Exchange.

Yours sincerely

Søren Theilgaard Company Secretary

Further information: Chief Executive Officer Jens Erik Christensen Codanhus 60 Gammel Kongevej 1790 Copenhagen V Denmark Phone: +45 33 55 43 19 Fax. +45 33 25 30 95