DISCLOSURE KONGSBERG AUTOMOTIVE ASA

Modulus Europe (Master) Ltd has crossed the 5% disclosure threshold with regards to its holding in Kongsberg Automotive ASA. The threshold was crossed on 23/6/2006, when Modulus purchased 72,400 shares in Kongsberg Automotive ASA . Modulus now holds 5.17% (2,288,948 shares) as at the close of business 23/6/2006.