No. 109
COMPANY ANNOUNCEMENT
26 August 2013

On 26 February 2013, PANDORA initiated a share buy-back programme, cf. Company announcement no. 69 of 26 February 2013. The programme was implemented in accordance with the provisions of European Commission Regulation no. 2273/2003 of 22 December 2003 (the Safe Harbour Regulation). The purpose of the programme is to reduce PANDORAs share capital and to meet obligations arising from employee share option programmes.

Under the programme PANDORA will buy back shares for an amount up to DKK 700 million in the period from 26 February 2013 to 31 December 2013.

The following transactions have been made under the programme:

	Number of shares	Average purchase price, DKK	Transaction value, DKK
Accumulated last announcement	2,129,413		397,719,959
19 August 2013	19,583	205.39	4,022,231
20 August 2013	5,109	206.50	1,055,014
21 August 2013	4,258	211.55	900,771
22 August 2013	10,218	212.79	2,174,278
23 August 2013	11,920	213.87	2,549,318
Accumulated under the program	2,180,501		408,421,571

                                   

With the transactions stated above, PANDORA owns a total of 2,363,426 treasury shares, corresponding to 1.8% of the share capital.

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 70 countries on six continents through approximately 10,200 points of sale, including approximately 900 Concept stores.

Founded in 1982 and headquartered in Copenhagen, Denmark, PANDORA employs over 6,200 people worldwide of whom 4,200 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 2012, PANDORA's total revenue was DKK 6.7 billion (approximately EUR 900 million). For more information, please visit www.pandoragroup.com.

CONTACT

For further queries, please contact:

INVESTOR RELATIONS Morten Eismark, VP Group Investor Relations Phone +45 3673 8213 Mobile +45 3045 6719

MEDIA RELATIONS Jakob Risom, Press Officer Phone +45 3673 0634 Mobile +45 6165 6540