Kongsberg Automotive Holding ASA (OSL:KOA) - Press Release

Kongsberg Automotive Holding ASA (OSL:KOA) NTB has announced that Kongsberg Automotive will reduce the workforce with 2000 people.

The company has informed that the resources continuously will be adjusted to the market conditions.

From 1 January 2008 up to 1 December 2008 the number of employees has been reduced from 11493 to 9539, in total 1954.

If the market will continue to decline, further cost reductions will be implemented.

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

Kongsberg Automotive Holding ASA

http://www.kongsbergautomotive.com

ISIN: NO0003033102

Stock Identifier: XOSL.KOA