During the years from 1999 to 2007, KONGSBERG sold properties in Kongsberg Industrial Park. The properties have been leased back on long-term leases that expire from 2014 to 2025. The leasebacks are considered operational leasing agreements.

In addition to the rent, KONGSBERG is responsible for certain expenses associated with fees on and maintenance of the properties. The leases have durations ranging from three months to 17 years. With the exception of the properties sold in 2007, the properties are mainly rented to external tenants. Provisions related to this are discussed in Note 28 "Provisions".

Amounts in MNOK	Year of sale	Rental 2008	Rental 2009–2013	Rental beyond 2013	Remaining term of lease	Rental sublease 2008	Weghted average subleasing period
Agreement 1 - A total of 28 800 m2 of industrial premises/offices	1999	35	189	41	7 years	34	7 years
Agreement 2 – A total of 38 800 m2 of industrial premises/offices	2001	29	153	171	11 years	29	1 years
Agreement 3 – A total of 6 200 m2 of industrial premises/offices	2002	6	29	26	10 years	6	3 years
Agreement 4 – A total of 10 000 m2 of industrial premises/offices	2006	15	81	147	14 years	17	14 years
Agreement 5 – A total of 34 000 m2 of industrial premises/offices	2007	19	202	644	17 years	19	17 years
Total		104	654	1 029		105

For agreements 1, 3 and 4, the Group has the right of first refusal based on market conditions. The Group has the right to extend all leases for five years at a time. Rent is fixed, but has a 2.5 per cent annual adjustment for contract 1, and a 2.25 per cent annual adjustment for contracts 2 and 3. Contracts 4 and 5 will be adjusted by 100 per cent of the change in the consumer price index. The rent for contract 1 is also influenced by the interest level, where 60 per cent is based on fixed interest up to 2011, and 40 per cent on floating interest rates.

The rent is adjusted annually based on the consumer price index.

Agreement 5 was signed in connection with the sale of property in 2007, and is described in more detail in Note 8 "Sale of property". These properties were sold with a property value of MNOK 698.