

	The Novo Group - before and after The demerger of Novo Nordisk A/S into two companies is approaching. In this edition of Perspective we introduce the two new companies and describe the implications of the demerger for our shareholders.

	Novozymes A/S Novozymes is a biotechnology-based world leader in enzymes for industrial applications. The company has an estimated global market share of over 40%.

	Financial highlights Novozymes (Enzyme Business activities only) Novo Nordisk (Health Care only) Financial statement for the first nine months of 2000



	Novo Nordisk A/S The new Novo Nordisk is a global niche pharmaceutical company with biotechnology expertise. The company is the world leader in diabetes care.

	Implications for shareholders Following the anticipated approval of the demerger at the extraordinary general meeting, each shareholder will receive one share in Novozymes A/S for each share currently owned in Novo Nordisk A/S. Holders of ADSs will be entitled to receive one B share for each two ADSs they hold.

About Perspective

Perspective is published by Novo Nordisk A/S, Communications & Design.
It is distributed three times annually to shareholders, press, business relations, employees and other interested audiences, in two languages.

Circulation: 38.000 Danish and 14.000 English copies. Editor: Michael Steen-Knudsen. Production: NB Tekstdesign. Layout and graphic production: Communications & Design. Printed by: Levison + Johnsen + Johnsen a/s - eco-certified printers. Photo: Foci Image Library and Jesper Westley. Web design: Netbureauet Araneum A/S.

Copyright: The publisher. Reprints of this publication are permissible with due acknowledgement to Novo Nordisk. However, to honour the publisher´s copyright, please inform the publisher of any reprints or copies. Address: Novo Nordisk A/S, Novo Allé, 2880 Bagsværd, Denmark Tel +45 4444 8888. Fax: +45 4444 2314. Email: perspective@novo.dk