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New bond issue

Kongsberg Gruppen ASA has mandated DnB NOR Markets to arrange a listed bond issue with a 5-year tenor. The bonds will be placed in co-operation with SEB Merchant Banking. The first tranche of the loan will be in the amount of minimum MNOK 300, with a total maximum amount of MNOK 600. Payment date is set to be June 3, 2004. In connection with the bond issue the issuer will consider to simultaneously buy back all or part of KOG01. Further details will be available at a later date.