Divestment of Norsk Kylling (NO) by Cardinal Foods (NO) to Rema Industrier and the Østhus family — Amount not disclosed

Carnegie acted as sole financial adviser to Cardinal Foods in the divestment of Norsk Kylling to Rema Industrier and the Østhus family. CapMan is the main owner of Cardinal Foods with close to 50 per cent ownership. The remaining owners are founders and management / employees in Cardinal Foods.May, 2011.