The proposals to be made by the Board of Directors at the annual general meeting to be held on December 13, 2005 include:

• A resolution to merge ALK-Abelló A/S and Chr. Hansen Holding A/S with ALK-Abelló A/S as the continuing, listed company
• Declaration of an ordinary dividend of DKK 5 per share in respect of the 2004/05 financial year
• Authorization to the Board of Directors to increase the share capital by up to DKK 30,385,080 nominal value during the period until December 12, 2010
• Authorization to the Board of Directors to issue warrants to executives and senior managers of the company equivalent to a nominal value of DKK 2,800,000 B share capital during the period until December 12, 2010
• Authorization to the Board of Directors to let the company acquire own B-shares of up to 10% of the class B share capital including share buy back of up to DKK 200 million
• Authorization to the Board of Directors to declare extraordinary dividends until the next annual general meeting