Kongsberg Automotive Holding ASA (OSL:KOA) FINANCING KONGSBERG AUTOMOTIVE

Kongsberg Automotive Holding ASA (OSL:KOA) Kongsberg, 10 December 2008.

Kongsberg Automotive Holding has reached an agreement with the existing banks, DnBNOR and Nordea, which can be summarized as follow;

o New business plan agreed with the banks based on the latest market forecasts o The existing loans will continue o New amortization schedules agreed o New covenants defined based on the updated business plan o New margins agreed o The refinancing is not dependant on divestures o No share issue

The solution is in line with the guiding given and gives the company the financial freedom needed to operate the business forward.

For further details please see the attached presentation.

In this presentation you will also find an update on the cost reduction programs initiated. They are all in line with what has been announced in the past.

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Kongsberg Automotive is headquartered in Kongsberg, Norway and has more than 50 facilities in 20 countries on all continents. Kongsberg Automotive, with revenues of about EUR1 billion and over 9.500 employees, provides system solutions to vehicle makers around the world. The product portfolio includes gearshift systems, cables for a wide variety of applications, fuel lines, tubing and hoses, couplings, clutch actuation, stabilizing rods, seat heaters, seat ventilation, lumbar supports, head restrains, arm rests, steering columns, pedals, electronics and displays. Find more information at www.kongsbergautomotive.com.

### FOR MORE INFORMATION, CONTACT: Ronny Lie Director Communication Phone : +4732770511. Mobile : +4791610798 ###

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



LINK: http://hugin.info/135828/R/1276324/284231.pdf

Kongsberg Automotive Holding ASA

http://www.kongsbergautomotive.com

ISIN: NO0003033102

Stock Identifier: XOSL.KOA