Acquisition of Bravida Telecom (NO) by Altor Equity Partners AB (SE) — Amount not disclosed.

Carnegie acted as financial adviser to Altor Equity Partners AB in the acquisition of Bravida Telecom, a division of Bravida ASA. Bravida Telecom is the largest telecommunication network contractor in Norway. Bravida Telecom builds, operates and maintains telecommunication and data networks via fixed lines, mobile and satellite, and has a turnover in excess of NOK 1.4 billion.December, 2004.