THE ACQUISITION OF GMS IS COMPLETED

12/28/2007 1:41 AM EST

The closing of the acquisition of GMS is done and
the money is transferred tonight Norwegian time.

Settlement of specified balance sheet accounts
will be done per 31 December 2007 in accordance
with an agreement between the parties.

The transfer of the GMS employees will
operationally take place 1 January 2008.

Trond Stabekk
CFO

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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 11,000 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.
For more information, visit
www.kongsbergautomotive.com
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