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Overview of companies in the Chr. Hansen Group

Overview of companies in the Chr. Hansen Group at August 31, 2005 (100% owned unless otherwise stated)

Nominal capital in 1,000
DK.jpg Denmark DKK 101,284 AUS.jpg Austria EUR 73
Chr. Hansen Holding A/S* ALK-Abelló GmbH
CVR no. 61 06 95 18 Linz
Hørsholm
NL.jpg Holland
ALK-Abelló A/S* DKK 101,284 ALK-Abelló bv EUR 23
CVR no. 63 71 79 16 Nieuwegein
Hørsholm
S.jpg Sweden ESP.jpg Spain
ALK-Abelló, ALK Sverige AB SEK 500 ALK-Abelló S.A. EUR 4,671
Kungsbacka Madrid
N.jpg Norway ITA.jpg Italy
ALK-Abelló, ALK Sverige AB  (branch) - ALK-Abelló S.p.A.
Milan
EUR 3,680
Oslo 100% owned by ALK-Abelló S.A.
FIN.jpg Finland USA.jpg USA
ALK-Abelló A/S (branch) - ALK-Abelló, Inc. USD 6,839
Helsinki Austin
UK.jpg England Vespa Laboratories, Inc. USD 5
ALK-Abelló Ltd.  GBP 1 Spring Mills
Hungerford
FRA.jpg France Biopol Laboratory, Inc.  USD 1
Allerbio SA EUR 160 Spokane
Varennes-en-Argonne 100% owned by Vespa Laboratories
GER.jpg Germany CHI.jpg China
ALK-Scherax Arzneimittel GmbH EUR 1,790 ALK-Abelló A/S (branch) -
Hamburg Hong Kong
50% owned by ALK-Abelló A/S

*)  It is expected that the two companies will be merged effective September 1, 2005 with ALK-Abelló A/S as the continuing company. It is expected that the merger will be adopted at the annual general meeting to be held on December 13, 2005.