THE EXTRAORDINARY GENERAL MEETING IN KONGSBERG AUTOMOTIVE SUPPORTED THE BOARD’S PROPOSALS FOR INCREASED SHARE CAPITAL WITH VAST MAJORITY Kongsberg Automotive Holding ASA has today September 25 held an Extraordinary General Meeting (EGM) based on the summons dated 4 September 2009. 53.82 % of all shares were represented. The main item on the agenda was the Board’s proposal for a rights issue of a total of 260,010,000 shares at a price of NOK 4.00 per share, representing gross proceeds of EUR 120 million (ref item 5 on the agenda). 97.21 % of the shares represented supported this proposal. On the agenda were also the Board’s proposal to conduct a repair issue of up to 110,000,000 new shares at NOK 4.00 per share, directed towards existing shareholders at September 1 who were not offered to subscribe in the private placement (ref item 6 on the agenda). The Board got support from 92.4 % of the actual shares. The Board of Directors asked for approval of issuing 36,130,478 warrants to the banks (item 7) and the proposal got unanimous support. The Board withdrew item 8 and 9 from the agenda due to signals from existing and new shareholders that the adjustments of the employees share options and new options should be decided by an EGM after the share issues are finalized. Today’s approvals mean that Kongsberg Automotive will strengthen the balance sheet and improve its liquidity. Along with new and more favorable terms with the lending banks, the share issue will bring the company back into normal business mode and significantly improve the company’s ability to take advantage of business opportunities that will arise in the wake of the financial turmoil. According to Olav Volldal, President and CEO of Kongsberg Automotive, “we have now reached an important milestone in the restructuring of the company. Through the successful completion of the share issue, Kongsberg Automotive is now well positioned both operationally and financially to take advantage of the future market opportunities”. Chairmen of the Board, Curt Germundsson, adds that today’s decisions “will improve confidence and comfort among all stakeholders, including customers, suppliers, employees, owners and banks. We see increasing signs of recovery in the automotive market. I will thank all who have positively contributed to the successful refinancing of the company ”. Regarding the expected recovery, Trond Stabekk, CFO of Kongsberg Automotive, says that he now is ”cautiously optimistic about the road ahead. The difficulties in the industry are not over yet, but we see that the positive forecast we made for Q3 seems to be in line with the expected outcome. We expect that the market for the rest of the year will improve slightly compared to the previous quarters of 2009”. The minutes from the EGM will be disclosed as soon as they are signed. ### Kongsberg Automotive is headquartered in Kongsberg, Norway and has approx. 50 facilities in 19 countries on all continents. Kongsberg Automotive, with over 8,000 employees, provides system solutions to vehicle makers around the world. The product portfolio includes gearshift systems, cables for a wide variety of applications, fuel lines, tubing and hoses, couplings, clutch actuation, stabilizing rods, seat heaters, seat ventilation, lumbar supports, head restrains, arm rests, steering columns, pedals, electronics and displays. Find more information at ### FOR MORE INFORMATION, CONTACT: Olav Volldal President and CEO Phone:+4732770500. Mobile:+ 4798214014 Trond Stabekk CFO Phone: +4732770500. Mobile: +4798214054 Ronny Lie Director Communications and Investor Relations Phone : +4732770511. Mobile : +4791610798 ###

About Us

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


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