SECONDARY SALE OF 16.675 MILLION SHARES COMPLETED

Kongsberg Automotive Holding ASA - Secondary sale of 16.675 million shares completed at NOK 46 per share

Oslo, 24 June 2005. The secondary sale totalling 16 675 000 shares (including over allotment) at NOK 46 per share in Kongsberg Automotive Holding ASA, has been successfully completed. The transaction was 5 times oversubscribed, and the implied market capitalisation of the company is NOK 2,037 million. `We have received strong interest from solid investors, both in Norway and internationally. The shareholder structure is balanced with a good mix of long-term knowledgeable shareholders and more trading oriented investors. I am very pleased that so many high quality investors appear confident in our potential going forward, says CEO Olav Volldal.` Prior to the share offer, the management of Kongsberg Automotive Holding ASA have met with investors in Oslo, Stavanger, Bergen, Stockholm, London, Paris, Zürich, Frankfurt, New York and Boston. The shares in Kongsberg Automotive Holding ASA will trade at the Oslo Stock Exchange (Oslo Børs) under the ticker symbol KOA. IPO details The pricing and allotment of shares in the share offer set out in the listing prospectus for Kongsberg Automotive Holding ASA dated 6 June 2005 took place on 23 June 2005. The price per share was set at NOK 46 and a total of 16 675 000 shares were sold in the secondary sale. After completion of the transaction, Kongsberg Automotive Holding ASA has a total of 44 292 770 shares outstanding. Funds managed by FSN Capital and BancBoston will own minimum 35.1 per cent of outstanding shares after the share offer, Allocation will be announced 24 June and investors who want to know more about allocation can contact Carnegie ASA or First Securities ASA. For those with access to investor services through their account manager in the Norwegian Central Securities Depository (VPS) it is possible to check the allocation of shares starting 24 June. For subscribers in the retail offering, the relevant bank accounts will be charged on 28 June. Stabilisation and over allotment option Carnegie ASA as stabilization manager has an over-allotment option for 2 175 000 shares. Based on the over allotment option, Carnegie can opt to take measures aimed at stabilizing the Kongsberg Automotive stock in a 30-day period after the first day of trading. The overallotment option comprising 2 175 000 shares has been utilized. A greenshoe option agreement for the same amount has been entered into with the selling shareholder. Stabilisation transactions may occur from the opening of trading on Oslo Børs on 24 June until the end of trading on 5 August 2005. For further information about stabilisation, see section 4.10 in the prospectus. Delivery of and payment for the Shares For the institutional offering, delivery versus payment in respect of allocated shares will take place on 29 June 2005. Delivery of shares in the retail offering, subject to payment having been received, will also take place on 29 June 2005. The number of shares allotted to each investor in the retail offering is expected to be recorded at each investor`s account in VPS on 24 June 2005. In the retail offering, it is anticipated that an amount corresponding to the allotted shares will be debited from these subscribers` bank accounts on or about 28 June 2005. In order to receive allotted shares, each retail subscriber must ensure that there are sufficient funds available on its account on 28 June 2005 and onwards. Subscribers selling shares from 24 June 2005 and onwards must thus ensure that payment for such shares is made within the deadline on 28 June 2005. Accordingly, a subscriber who wishes to sell shares before delivery must ensure that payment is made in order for such shares to be delivered in time to the subscriber. Group profile Kongsberg Automotive Holding ASA is a global technology company headquartered in Norway manufacturing systems, modules and components for the automotive and commercial vehicles industries. The company has a leading market position within seat comfort and gearshift systems, clutch actuation systems and air-couplings. Kongsberg Automotive serves a diversified customer base through 13 manufacturing facilities across four continents. About 50 OEMs are currently using Kongsberg Automotive`s products, including BMW, DaimlerChrysler, Ford, GM, Toyota, Porsche, Volvo and Scania. Carnegie ASA has been lead manager and First Securities ASA has been co-manager in connection with the offering. For further information please contact: Frode Strand Nielsen, Chairman, +47 24 14 73 05 or +47 91 73 13 64 Olav Volldal, CEO, +47 32 77 05 00 or +47 98 21 40 14, Erik Magelssen, CFO, +47 32 77 05 00 or +47 92 88 87 28. www.kongsberg-automotive.com THIS PRESS RELEASE IS NOT AN OFFER FOR SALE OF SECURITIES IN THE UNITED STATES NOR SHALL IT CONSTITUTE AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, AND THERE SHALL NOT BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION. THE 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. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY SECURITIES.