Reference is made to the stock exchange notice regarding completion of the Private Placement in Kongsberg Automotive Holding ASA issued earlier today

With respect to the final subscription and conversion of debt the correct figures are that 79%, EUR 95 million, of the Private Placement was subscribed for by large existing shareholders in the Company, Norwegian investors and international institutional investors, while the remaining approximately 21%, EUR 25 million, was conversion of debt under the guarantee from lending banks. "Through the successful completion of the private placement Kongsberg Automotive has reached an important milestone in the restructuring of the company" states Olav Volldal, President and CEO. "Kongsberg Automotive is now well positioned both operationally and financially to take advantage of the future market opportunities"