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Forward-looking statements

The Annual Report for 2005 contains forward-looking statements, including the financial outlook for 2006. Forward-looking statements are by their very nature associated with risks and uncertainties that may cause actual results to differ materially from expectations. The uncertainties may include unexpected developments in the international currency exchange and securities markets, market-driven price decreases for Novozymes’ products, and the introduction of competing products within Novozymes’ core areas.

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