Private placement of equity in Hardford & Schtoff (SE) — SEK 88 million

Carnegie acted as lead manager in the private placement of equity in Hardford & Schtoff to institutional investors. Hardford & Stoff develops and markets branded products and branded private labels within the segments for skin care-, body care- and hygiene products as well as coloured cosmetics. The products are sold to various retailers in the Nordic region and the rest of Europe.October, 1998.