Addendum to press release regarding Privat Placement

Reference is made to the stock exchange notice regarding completion of the Private Placement in Kongsberg Automotive Holding ASA issued earlier today. With respect to the final subscription and conversion of debt the correct figures are that 79%, EUR 95 million, of the Private Placement was subscribed for by large existing shareholders in the Company, Norwegian investors and international institutional investors, while the remaining approximately 21%, EUR 25 million, was conversion of debt under the guarantee from lending banks. "Through the successful completion of the private placement Kongsberg Automotive has reached an important milestone in the restructuring of the company" states Olav Volldal, President and CEO. "Kongsberg Automotive is now well positioned both operationally and financially to take advantage of the future market opportunities"

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Kongsberg Automotive provides world class products to the global vehicle industry. Our products enhance the driving experience, making it safer, more comfortable and sustainable. With revenues of approx. EUR 1.0 billion and 10.000 employees in 18 countries, Kongsberg Automotive is truly a global supplier. The company is headquartered in Zürich, Switzerland and has 30 production facilities worldwide. The product portfolio includes seat comfort systems, powertrain control systems and advanced fluid handling systems developed for global vehicle manufacturers. Find more information at