Divestment of all alpine skiing related subsidiaries and assets of Trysilfjellet BA (NO) to SKISTAR AB (SE) — NOK 241 million

Carnegie acted as sole financial adviser to Trysilfjellet BA in the divestment of all alpine skiing related subsidiaries and assets in Trysilfjellet BA to SKISTAR AB. Trysilfjellet BA is the owner and operator of the alpine skiing facilities in Trysil, Norway.November, 2005.