New share issue in Aktiv Kapital (NO) — NOK 180 million

Carnegie acted as adviser and sole manager in the directed issue of 3,000,000 new shares in Aktiv Kapital ASA. The shares were subscribed for by 9 large international institutions. Aktiv Kapital ASA acquires and provides services for the management of debt portfolios in UK and the Nordic region.October, 2003.