KOA ACQUIRES A GLOBAL AUTOMOTIVE BUSINESS FROM TELEFLEX FOR USD 560 MILLION

Kongsberg 15 October 2007 Kongsberg Automotive Holding ASA (KOA) announces today that it has entered into an agreement to acquire Teleflex` automotive activities plus other vehicle related businesses for USD 560 million on a cash and debt free basis. The acquisition has fully committed financing. It is expected to close before end of this year, pending regulatory and other customary approvals. Teleflex Incorporated. is a diversified industrial company listed on the New York Stock Exchange. The acquired activity, named Global Motion Systems (GMS), has a world leading position in developing, producing and marketing systems for gear shift, seat comfort and fluid systems. GMS has a global presence with about 8.000 employees working in 16 production facilities in North and South America, 13 factories in Europe and 5 factories in Asia. GMS is a long term supplier to blue chip customers like Mercedes Benz, Toyota, Ford, GM, Renault, Peugeot, Lear Corporation, Caterpillar and Scania. In 2006 GMS had annual revenues of USD 855 million, EBITDA of USD 82 million and EBIT of USD 52 million. (The profit figures include non-recurring items as well as group cost charges). KOA`s CEO, Olav Volldal stated the following; `The acquisition of GMS represents a big step forward for Kongsberg Automotive. This business has been on our acquisition target list since 1998. The combined company will become a 1.5 billion USD operation joining the top 100 automotive supplier club and a market leader with a global manufacturing footprint within our core segments. We will continue to develop unique products and technologically advanced solutions to deliver the best functionality to meet our customer needs. There is an exceptionally strong industrial fit between GMS and Kongsberg Automotive in term of product platforms and customer base. In addition we have identified significant operational improvements and synergy potential going forward.` Teleflex`s Vice-Chairman, John Sickler commented; `We are pleased with the transaction and especially that a well respected industry player such as Kongsberg Automotive is the acquirer of GMS. We believe that Kongsberg will be able to utilize GMS` full potential making the new group a leading automotive supplier`. The transaction is to be fully loan financed by DnBNOR and Nordea. KOA will continue to evaluate its capital structure in light of the transaction and will call for an Extraordinary General Assembly at 29 October to ask the shareholders to authorise the Board of Directors to effect a share issuing representing an equity value of up to NOK 700 million to ensure satisfactory financial flexibility going forward. A formal notice for the EGM is enclosed in this announcement. Kongsberg Automotive invites press, analysts, shareholders and others to a briefing today at Felix conference center, Bryggetorget 3 at Aker Brygge in Oslo at 12.00. The presentation will be available at KOA homepage (www.kongsbergautomotive.com), either live or for later viewing. KOA management and board will also inform through a conference call tomorrow Tuesday at 2:00 pm CET. To access the live broadcast of the conference call by telephone, please dial-in from Norway: 800 88 860. From abroad dial: +47 2310 9350. Pin code for all: 740074. **** Kongsberg Automotive Holding (KOA) develops, manufactures and markets systems for gearshift, clutch actuation, seat comfort, stabilising rods, couplings and components. The company has almost 3.000 employees and annual sales of approximately NOK 3 billion. Leading customers include DAF, Mercedes-Benz, Opel, Peugeot/Citroen, Renault, Saab, Scania, Toyota and Volvo. KOA, headquartered in Kongsberg Norway, has manufacturing activities in Norway, Sweden, England, Poland, USA, Mexico, Brazil, Korea and China plus R&D centres in Norway, Sweden and the United States. Additional customer support offices are located in France, Germany and Japan. **** Global Motion Systems develops, manufactures and markets systems for transmission control, electronic engine control, seating, cables, pedals, steering and displays in addition to speciality hoses, tubes and fittings for the automotive and industrial markets. The company has about 8000 employees and the revenues in 2006 were USD 855 million. Leading customers include Mercedes Benz, Toyota, Ford, GM, Renault, and Peugeot. GMS has manufacturing activities in Sweden, England, Germany, USA, Canada, Mexico, Brazil, China, Australia, Spain, Italy, Slovakia, Switzerland and Hungary with main R&D centres in USA, Germany, France, China and the UK, **** Carnegie ASA has acted as sole financial advisor to Kongsberg Automotive related to the transaction. Goldman Sachs has acted as the sole financial advisor to Teleflex. **** Important notice and disclaimer This press release is issued pursuant to the requirements of Norwegian law and the Oslo Børs and is not an offer to buy, sell or exchange any of the securities described herein. This press release may not be relied upon by any person to whom it was not intended to be provided. The press release is explicitly not an offer of securities for sale or exchange in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Kongsberg Automotive Holding ASA have not registered, and do not intend to register, any portion of their securities in the United States. The press release includes statements that may constitute forward-looking statements. Such forward- looking statements are subject to a variety of known and unknown risks, uncertainties, and other factors that are difficult to predict and many of which are beyond Kongsberg Automotive`s control. All statements other than statements of historical facts included or incorporated herein may constitute forward-looking statements. Although Kongsberg Automotive believe that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The forward- looking statements involve risk. **** FOR DETAILS, CONTACT: Olav Volldal CEO Phone:+4732770510 Mobile:+4798214014 Frode Strand-Nielsen, Chairman Phone:+4724147300 Mobile:+4791731364