No. 56
COMPANY ANNOUNCEMENT
5 March 2012


PANDORA A/S has received the following announcement from RS Family ApS;

On 2 March 2012 Prometheus Invest ApS sold 5,261,057 Pandora shares to RS Family ApS in connection with repurchase of own shares from RS Family ApS.

As part of the transaction RS Family ApS and Prometheus Invest ApS exchange 5,261,057 Pandora shares against 5,625,000 shares in Prometheus Invest ApS.

RS Family ApS' ownership in PANDORA A/S has after the completion of the transaction changed from indirect ownership to direct ownership. RS Family ApS' intentions in respect of the ownership in PANDORA A/S remain the same.

RS Family ApS is indirectly controlled by René Sindlev. René Sindlev also controls RS Arving ApS, which as of 2 March 2012 owns 0.23% of the voting rights and share capital in PANDORA A/S, and RS Holding ApS, which as of 2 March 2012 owns 0.76% of the voting rights and share capital in PANDORA A/S.

It should be noted that on 7 September 2011 René Sindlev issued a major shareholders announcement stating that René Sindlev's indirect ownership in PANDORA A/S was at least 5%. René Sindlev has subsequently become aware that non-controlled ownerships should not be included, cf. the Executive Order on Major Shareholders. Thus René Sindlev should not have issued the major share-holders announcement as his ownership at that time was less than 5%.

For the purpose of issuing a correct major shareholders announcement and correcting the previous major shareholders announcement, it is hereby announced that René Sindlev's direct ownership is 0% of the voting rights and share capital in PANDORA A/S and that René Sindlev indirect ownership through controlled companies is 5.03% of the voting rights and share capital in PANDORA A/S.

René Sindlev owns his shareholding in PANDORA A/S indirectly through RS Family ApS, RS Holding ApS and RS Arving ApS.

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

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