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24 August 2005.

SUPPLEMENTARY INFORMATION INCLUDED IN IFU’S 2004 ANNUAL REPORT

A correction of some minor errors in the Investment Portfolio section in IFU's annual report 2004

It is IFU’s aim to provide both as much and as accurate information on our activities as possible. Our Annual Report therefore contains not only the mandatory audited report, but we have decided to include also supplementary information which we hope could be of interest to the readers.

Recently, IFU has been alerted by careful readers about some minor errors (in the Investment Portfolio section). A list of these errors is given below.

In consultation with our external auditors we have concluded that – as the corrections all are minor and immaterial – we will not revise neither the printed version nor the electronic version of our Annual Report.

If you have suggestions for further information we may bring in future annual reports please let us know either by mail (ifu@ifu.dk) or phone (+45 33 63 75 00).

IFU

Page 50:

The figure for disbursement for DCK-EA is stated to be DKK 3.9m.
The correct figure is DKK 1.5m.

The figure for disbursement for DCK-Production is stated to be DKK 2.1m.
The correct figure is DKK 4.5m.

The figure for total disbursement for the two related projects is unchanged DKK 6.0m.

Page 54:

Dankaffe, Malaysia has a “star” indicating stop of operation.
This is not correct.

Dankaffe, Indonesia has no “star” for stop of operation.
This is not correct.

Page 55:

The figure for expected employment in the C.W. Mackie-group in Sri Lanka has been counted both in the holding company and in the individual subsidiaries, and hence the (expected) Employment figures for Sri Lanka (p55), for Total Asia (p56) and for Grand Total (p58) are all 3.120 lower than stated.

The project in Malaysia with Royal Scandinavia is named Patra Porcelain.
The correct name is Porcelain Painting (Thailand).

Page 58:

The project Goodman Loudspeakers Mexico has stopped operation.
This project should have a “*” indicating stop of operation.

Copenhagen 24 August 2005, HJ/BJ