New share issue in Q-Free (NO) — NOK 25 million

Carnegie acted as lead manager in the new share issue of 4.5 million shares in Q-Free. Q-Free is a global supplier of equipment, software and services for road pricing systems, access control and tracking systems, ticketing solutions and related services. Based in Norway, the company has subsidiaries in Portugal, Greece, Brazil, Australia, Malaysia and China and employs some 200 people. 2004 revenues were NOK 316 million.April, 2004.