Carnegie submits its appeal against the Financial Supervisory Authority's decision

Carnegie submits its appeal against the Financial Supervisory Authority's
decision

The board of Directors of Carnegie Investment Bank AB (Carnegie) has today
submitted its complete appeal against the Swedish Financial Supervisory
Authority's (FSA) decision of September 27, 2007, to the County Administrative
Court in Stockholm County.

“It is in the interest of the entire industry that the FSA's investigations and
decisions take place in a transparent, clear and legally secure way. In our
opinion, there are serious shortcomings, unclear points and direct errors in the
decision that should be examined in a court of law,” says Christer Zetterberg,
Chairman of the Board.

The appeal focuses mainly on the following points:
•  That the work method used in the FSA's investigation had serious
shortcomings, leading to a situation in which the basic data for the decision
contained unnecessary misunderstandings and factual errors
•  That these misunderstandings remain, since the FSA declined to engage in a
dialogue with Carnegie regarding the decision
•  That this led to the FSA to make incorrect conclusions on a number of points
•  That the FSA's decision has factual shortcomings and does not have sufficient
support in the law 
•  That the decisions and criticism are communicated and explained in an
imprecise and general manner and that this, combined with the incorrect basic
data, may have damaged Carnegie, and most likely also the whole industry,
unnecessarily
•  That the sanctions themselves, and in particular the decision on the fine,
are disproportionate

In its appeal, Carnegie refers to an expert opinion by Wiweka Warnling-Nerep,
Professor of Public Law at Stockholm University. The expert opinion strongly
supports this appeal. 

The complete text of the appeal, the expert opinion and a summary of the appeal,
including an extract from the expert opinion, are available in Swedish on
www.carnegie.se

For an English version of the summary, please contact Carnegie. 

Contact person:
Andreas Koch, Head of Communications and IR, tel +46 8 676 86 39


D. Carnegie & Co AB may be required to disclose the information provided herein
pursuant to the Securities Markets Act. The information was submitted for
publication at 14:45 on 15 November 2007.