Copenhagen, Denmark; November 11, 2003 – At today’s Extraordinary General Meeting in Genmab A/S (CSE: GEN) Dr. Anders Gersel Pedersen was elected as member of the board of directors of Genmab A/S, for a period expiring at the Annual General Meeting to be held in 2007.

Dr. Pedersen is Senior Vice President, Development at H. Lundbeck A/S, Denmark and also currently serves at the board of directors of TopoTarget A/S.

Following the meeting Genmab A/S’ board of directors met and decided to issue 25,000 warrants to the new member of the board of directors. The exercise price for each warrant is DKK 59.00. Each warrant entitles the owner to subscribe one share of nominally DKK 1.

On the basis of an exercise price of DKK 59.00 and by application of the Black-Scholes formula, the value of each warrant can be calculated as DKK 46.40 based on an interest rate of 3,67% and the historical volatility of Genmab A/S shares calculated at 120%.

50% of the warrants granted may be exercised one year after grant and for a period of three years thereafter and 50% the warrants may be exercised from two years after grant and for a period of three years thereafter although no warrants may be exercised after April 23, 2008. Further information on the plan pursuant to which the warrants are granted can be found at www.genmab.com under the heading ‘warrant scheme’.