Private placement of new shares in Arrow Seismic ASA (NO) — USD 46 million

Carnegie acted as sole manager in the private placement of new shares in OTC-listed Arrow Seismic ASA, a subsidiary of Rieber Shipping ASA. Arrow is a vessel owning company in the seismic industry. Arrow owns one existing vessel that will be converted to a seismic multi-streamer vessel and has a contract for two state-of-the-art newbuilds.February, 2006.