Extraordinary GeneralMeeting approves Private Placement of MNOK 500 and authorizes the board of directors to carry out a Repair Issue of up to MNOK 75

An extraordinary General Meeting in Kongsberg Automotive Holding ASA was held on 2 May 2008. The General Meeting resolved to increase the share capital with 20,370,000 new shares at subscription price NOK 27 per share, securing MNOK 500 in gross proceeds for repayment of debt acquired in connection with the purchase of GMS in 2007. The shares are subscribed by a consortium of existing shareholders and new investors that has subscribed for shares through Carnegie ASA and SEB Enskilda. The new shares are expected to be registered in the Register of Business Enterprises and in the VPS on 7 May 2008 latest. The subscribers include Ferd Capital AS, gaining a stake of app. 15% prior to the Repair Issue. The General Meeting also authorised the board of directors to carry out a Repair Issue where the shareholders as of 2 May 2008 who was not invited to take part in the private placement may subscribe for in total up 2,777,777 new shares at NOK 27 per share (total gross proceeds up to MNOK 75) with pro rata allocation among these shareholders in the event of oversubscription. The Company expects to release the prospectus for the Repair Issue on 5 May 2008 with subscription period 7 May to 16 May 2008. No preferential rights will be issued or listed. The protocol for the Extraordinary General Meeting is attached this announcement. Kongsberg, 2 May 2008 Kongsberg Automotive ASA Olav Volldal, CEO, Kongsberg Automotive Holding ASA Tlf: +47 982 14014 This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)