Press Release From The Oslo Stock Exchange Appeals Committee

At a meeting on 7 June 2005, the Stock Exchange Appeals Committee considered an appeal by Carnegie ASA against the decision by Oslo Børs on 27 April 2005 to impose a violation charge of NOK 300,000 on the company for a breach of the duty disclosure pursuant to Section 5-4 of the Stock Exchange Act. The Appeals Committee affirmed that the duty of disclosure had been breached, and upheld the resolution passed by Oslo Børs.

The Appeals Committee passed the following resolution:

“The decision by Oslo Børs dated 27 April 2005 to impose a violation charge of NOK 300,000 on Carnegie ASA for a breach of Section 5-4, fifth paragraph, of the Stock Exchange Act is hereby upheld”.

Contact name:,br> Bjørg Ven, Attorney, Chairman of the Appeals Committee. Tel: +47 977 28 264.

The Stock Exchange Appeals Committee is appointed by the Ministry of Finance, and is independent of Oslo Børs. Oslo Børs only publishes the Appeals Committee's rulings.