INTERIM REPORT OF COPENHAGEN AIRPORTS A/S (CPH) FOR THE THREE MONTHS TO 31 MARCH 2008

The Supervisory Board today approved the interim report for the period 1 January – 31 March 2008.

SUMMARY FOR THE FIRST THREE MONTHS OF 2008

Operating and financial performance in Q1 2008 was in line with expectations excluding one-off items. See the explanatory table on page 7

EBITDA increased by 3.6% to DKK 374.9 million excluding one-off items (Q1 2007: DKK 361.7 million). EBITDA amounted to DKK 373.0 million (Q1 2007: DKK 464.1 million)

Excluding one-off items, EBIT amounted to DKK 276.6 million (Q1 2007: DKK 276.6 million). EBIT amounted to DKK 274.7 million (Q1 2007: DKK 379.0 million)

Profit before tax declined by 3.6% to DKK 232.6 million excluding one-off items (Q1 2007: DKK 241.4 million). Profit before tax amounted to DKK 230.7 million (Q1 2007: DKK 343.8 million)

Passenger numbers at Copenhagen Airports increased by 5.5%. The number of locally departing passengers increased by 7.2%, whereas transfer traffic declined by 2.8%

Results from international investments were a loss of DKK 10.9 million (Q1 2007: profit of DKK 2.9 million), which can be explained by the absence of profit from HMA and partly ASUR, due to divest-ment of these international assets in Q2 2007

OUTLOOK 2008

The Supervisory Board of Copenhagen Airports has budgeted to invest in the order of DKK 1 billion in 2008. This is the highest investment level since the construction of Terminal 3. In 2008, invest-ments will be made in check-in facilities, gates and aircraft stands, baggage facilities, security, commercial projects and other passenger service improvements. Investments in intangible assets and property, plant and equipment totalled DKK 185.3 million (Q1 2007: DKK 173.3 million)

The forecast for 2008 of a slightly higher profit before tax is retained excluding one-off items and the impact of tax changes in the UK