Contemplated Private Placement of shares in Kongsberg Automotive Holding ASA

The board of Kongsberg Automotive Holding ASA (`KOA`) has engaged Carnegie ASA and SEB Enskilda as joint lead managers for a share issue, to be carried out as a private placement with book building after trading hours on 15 April 2008. The private placement is expected to give KOA MNOK 500 to 550 in net proceeds, to be applied for repayment of debt acquired in connection with its purchase of GMS in 2007. The managers have secured substantial anchor demand for the transaction. The private placement will be directed at existing shareholders and selected new investors. The share issue will be conditioned upon approval by an extraordinary general meeting to be scheduled on 2 May 2008. The board will propose that the private placement is followed up by a repair issue of MNOK 50 to 100 in net proceeds to be carried out in May 2008 towards shareholders not taking part in the private placement. As part of preparation for the placement the enclosed Company Presentation including updated financials and loan covenant information was made available to potential investors. Kongsberg, 15 April 2008 Kongsberg Automotive ASA See attachment on http://www.newsweb.no