PRESS RELEASE

23 February 2012

Today, PANDORA celebrates the grand opening of its store number 100 in Asia, in the Banqiao District of Taipei, Taiwan. PANDORA considers Asia to be its single largest long-term growth opportunity, and the Taipei grand opening is, from start to finish, a reflection of the company's dedication and connection to the region.

The Taipei store stands as a symbol of a very strong year for PANDORA in Asia. Since the company opened its first Asian shop in Hong Kong in 2009, its innovative jewellery concept has taken hold across the region, and PANDORA now has stores in China, Hong Kong, Indonesia, Japan, Korea, Macao, Malaysia, Philippines, Singapore, Taiwan, Thailand and Vietnam.

President of PANDORA Asia, Hans Hornemann, said: "The grand opening of our store number 100 in Asia marks an important milestone for us, and we are thrilled to have the region's top talent joining us and endorsing the PANDORA brand at this exciting event."

The event is one of many that have taken place over the past year, where PANDORA has accelerated its presence in Asia. During 2011, the number of PANDORA branded concept stores and shop-in-shops in this region increased by 84 to a total of 102, in line with the company's strategy of focusing on branded sales channels in the important Asian growth markets.

ABOUT PANDORA

PANDORA designs, manufactures and markets hand-finished and modern jewellery made from genuine materials at affordable prices. PANDORA jewellery is sold in more than 65 countries on six continents through over 10,500 points of sale, including more than 670 concept stores.

Founded in 1982 and headquartered in Copenhagen, Denmark, PANDORA employs over 5,300 people worldwide of whom 3,600 are located in Gemopolis, Thailand, where the company manufactures its jewellery. PANDORA is publicly listed on the NASDAQ OMX Copenhagen stock exchange in Denmark. In 2011, PANDORA's total revenue was DKK 6.7 billion (approximately EUR 893 million). For more information, please visit www.pandoragroup.com

CONTACT
For further queries, please contact:

Kasper Riis, VP Group Communications Phone +45 3673 0627 Mobile +45 3035 6728

Nathalie Rhode-Erb, Communications Coordinator Phone +45 3673 8212 Mobile +45 4018 2130