93 Group Companies Group Companies CARLSBERG BREWERIES A/S Share Capital DKK 500,000,000 Northern Europe Carlsberg Danmark A/S, Copenhagen 4 subsidiaries 100% 100,000 DKK 100.00 Pripps Ringnes AB, Stockholm, Sweden 2 subsidiaries 100% 287,500 SEK 79.89 Oy Sinebrychoff, Helsinki, Finland 1 subsidiary 100% 244,985 FIM 125.06 Carlsberg Sverige Holding Ab, Falkenberg, Sweden 2 subsidiaries 100% 150,000 SEK 79.89 Ringnes AS, Oslo, Norway - owned by Pripps Ringnes AB 1 subsidiary 100% 248,590 NOK 93.24 United Kingdom Carlsberg-Tetley PLC, Northampton 12 subsidiaries 100% 90,004 GBP 1218.57 Western & Southern Europe Carlsberg Italia S.p.A., Varese, Italy 32 subsidiaries 75% 16,265 ITLm 0.3840 Unicer-Bebidas S.A., Porto, Portugal 11 subsidiaries 44% 10,024 PTEm 3.71 Hannen Brauerei GmbH, MGLYPH<154>nchengladbach, Germany 5 subsidiaries 100% 35,003 DEM 380.18 FeldschlGLYPH<154>sschen GetrGLYPH<138>nke Holding AG, Rheinfelden, Switzerland 15 subsidiaries 100% 95,000 CHF 501.63 Carlsberg France S.A., Paris, France 100% 5,200 FRF 113.36 International Breweries B.V., Bussum, Netherlands 16% 62 USD 840.95 Eastern Europe, Africa and Americas BBH - Baltic Beverages Holding AB, Stockholm, Sweden, 12 subsidiaries 50% 100,000 SEK 79.89 owned by Pripps Ringnes AB Carlsberg Okocim S.A., Brzesko, Poland 2 subsidiaries 1) 81% 22,000 PLN 210.35 Panonska Pivovara d.o.o., Koprivnica, Croatia 40% 159,932 HRK 101.40 AB Svyturys, Klaipeda, Lithuania 55% 18,000 LTL 210.35 Israel Beer Breweries Ltd., Ashkelon, Israel 20% 42 ILS 191.70 Nuuk Imeq A/S, Nuuk, Greenland 24% 38,000 DKK 100.00 Piast S.A., Poland 5 subsidiaries 98% 101,193 PLN 210.35 TGLYPH<159>rk Tuborg A.S., Turkey 1 subsidiary 1) 82% 101,911 USD 840.95 OAO Vena, Russia 2) 100% 202,532 FIM 125.06 Carlsberg Malawi Brewery Limited, Blantyre, Malawi 49% 20,000 MWK 12.75 Southern Bottlers Limited, Blantyre, Malawi Carlsberg Agency Inc., New York, USA 1 subsidiary 100% 10 USD 840.95 Asia Carlsberg Asia Pte Ltd, Singapore 50% 100 SGD 455.75 Carlsberg Marketing (Singapore) Pte Ltd., Singapore 100% 1,000 SGD 455.75 Carlsberg Brewery Hong Kong Limited, Hong Kong 2 subsidiaries 51% 250,000 HKD 107.85 Carlsberg Brewery Malaysia Berhad, Kuala Lumpur, Malaysia 2 subsidiaries 1) 50% 153,000 MYR 221.30 Gorkha Brewery Ltd,Katmandu, Nepal 48% 466,325 NPR 11.08 Hue Brewery Ltd., Hue, Vietnam 35% 216,788 VND 0.06 South-East Asia Brewery Ltd., Hanoi, Vietnam 35% 212,705 VND 0.06 Other companies Carlsberg International A/S, Copenhagen 100% 1,000 DKK 100.00 Danbrew Ltd. A/S, Copenhagen 2 subsidiaries 100% 2,000 DKK 100.00 Danish Malting Group A/S, Vordingborg, Denmark 100% 100,000 DKK 100.00 Tuborg International A/S, Copenhagen 100% 1,000 DKK 100.00 United Breweries International Limited A/S, Copenhagen 100% 500 DKK 100.00 Carlsberg Finans A/S, Copenhagen 100% 25,000 DKK 100.00 Carlsberg (UK) Limited, Northampton, England 100% 100 GBP 1,218.57 Investeringsselskabet af 29. oktober 1962 A/S, Copenhagen 1 subsidiary 100% 5,000 DKK 100.00 J. C. Bentzen A/S, Copenhagen 100% 30,000 DKK 100.00 Nepko A/S, Copenhagen 100% 1,000 DKK 100.00 Nominal share capital (GLYPH<213>000) Participating interest Currency Exchange rate Subsidiares Pro rata consolidated associated company Other associated company 1) Company registered on the Danish Stock Exchange and managed by Carlsberg. 2) 50% of the shares have been transferred to BBH - not yet approved by the Russian authorities.