Kitron ASA issues this notice on behalf of primary insiders who today have been granted bonus related to Kitron’s share price development. The programme was resolved by the board of directors on 22 March 2007. The bonus gives the recipient an amount equal to any price increase of the underlying shares (Bonus Units, BU) in a given period. No shares or options are issued.

The company today granted a total of 985,000 BU under the programme. Of the total, 165,000 BUs were granted to primary insiders.

The grant is split in three tranches of equal size. One tranche of the grant will have a base price equal to the average of closing share prices 9-15 February 2007. Any gain for this tranche is calculated as share price increase up to a period of five trading days starting when the interim report for the fourth quarter 2007 is presented in 2008. The base price for the second tranche will be fixed in 2008, and any share price increase is calculated correspondingly in 2009. The base price for the third tranche will be fixed in 2009, and any gain will be calculated in 2010. Any payment will take place at the time the share price increase for the year is calculated, and such payment is conditional upon the recipient remaining employed in the company in a position which is included in the programme. Any gain from the programme is limited to 0.5 times base salary.

The following recipients are primary insiders. The grant represents each person’s holding of this type of bonus.

Henning Dahlen, group finance manager: 40,000 BUs. Mr. Dahlen holds 0 shares or other rights to shares in Kitron ASA.

Joakim Holand, group controller: 25,000 BUs. Mr. Holand holds 0 shares or other rights to shares in Kitron ASA.

Johannes Lind, general manager for Kitron Sweden and Corporate vice president Kitron ASA: 100,000 BUs. Mr. Lind holds 0 shares or other rights to shares in Kitron ASA. (For Mr. Lind a restriction of total operational bonus and this programme of 1.0 times base salary applies.)

11 July 2007
Kitron ASA