Divestment of ErgoBluegarden AS (NO) to Ratos AB (SE) by Posten Norge AS (NO) — NOK 340 million

Carnegie acted as adviser to Posten Norge AS in the divestment of the Ergo Group subsidiary ErgoBluegarden AS, one of the leading providers of payroll and human resource management systems and services in Norway, and with a growing presence in Denmark.December, 2003.