Acquisition by Aktiv Kapital ASA (NO) of Olympia Capital ASA (NO) and new share issue — NOK 2.3 billion

Carnegie acted as adviser to Aktiv Kapital ASA in the acquisition of Olympia Capital ASA and sole manager and book-runner in the new share issue of NOK 1.15 billion. Aktiv Kapital is a leading provider of credit administrative services and Olympia Capital is a Pan-European financial services group specialising in acquisition, reconstruction and management of under-performing loan portfolios. July, 2004.