Divestment of Nycomed’s (DK) Skin Care business area to the ACO Hud Division of Oriflame Cosmetics (SE) — Amount not disclosed.

Carnegie acted as sole adviser to Nycomed Skin Care, one of the leading providers of skin care products sold through pharmacies in Denmark and Norway, in the divestment of its skin care business area to the ACO Hud Division of Oriflame Cosmetics. Oriflame Cosmetics sells products such as skincare products, make-up, fragrances and toiletries in more than 50 markets worldwide. February, 2003.