New share issue in Pan Fish ASA (NO) — NOK 5.45 billion

Carnegie acted as joint lead manager in the private placement of NOK 5.45 billion in Pan Fish ASA (1,250 million new shares). The transaction was part of the financing of the acquisition of Marine Harvest, the world’s largest aquaculture company. Pan Fish, which is listed on the Oslo Stock Exchange, is now the undisputed global leader within the aquaculture industry with an estimated harvest volume of approximately 350,000 tonnes in 2006.March, 2006.