Copenhagen, DENMARK; September 26, 2002 - Genmab A/S (CSE: GEN and FSE:GE9D) has today granted a total of 391,425 warrants to new and existing employees of the company as well as of its subsidiaries.

Of the total number of warrants granted, 5,000 are awarded to registered member of senior management.

The exercise price for each warrant is DKK 33.7. Each warrant entitles the owner to subscribe one share of nominally DKK 1.

Each warrant holder may exercise 50 % of his/her warrants from September 26, 2003 and for a period of three years thereafter and 50 % of his/her warrants from September 26, 2004 and for a period of three years thereafter.

Exercise of warrants is not contingent upon the owner being employed by the company or its subsidiaries at the time of exercise. However, the owner will only earn an unconditional right to shares subscribed on the basis of warrants in the amount of 25 % for each year of employment.

On the basis of an exercise price of DKK 33.7 and by application of the Black-Scholes formula, the value of each warrant can be calculated as DKK 13,8 based on an interest rate of 4,59 % and the historical volatility of Genmab A/S’ shares.