Directed new share issue in Nokian Tyres (FI) — EUR 131 million

Carnegie acted as sole manager and book-runner in the new share issue of 1.1 million new shares in Nokian Tyres through an accelerated bookbuilding process. The issue was more than 2.5 times subscribed within only two hours of opening. Approximately 13 per cent of the shares were allocated to Finnish institutional investors and 87 per cent to international. Nokian Tyres is the largest tyre manufacturer in the Nordic countries and one of the most profitable companies in its industry world-wide.February, 2005.