The Nordic Stock Exchange Nikolaj Plads 6 DK-1007 Copenhagen K 26 November 2007 Announcement no. 24 NKT Cables - new high voltage factory in Cologne NKT Cables' plans to expand its high voltage activities will now be strongly accelerated following a decision to move the Cologne-based activities to a new site (also in Cologne) close to the river Rhine. At this site plans to build a state-of-the-art plant for the manufacture of high voltage cables will now be realised. At the same time an agreement to sell NKT Cables' existing production premises in Cologne has been signed. This sale provides basis for the NKT Group expectations for 2007 to be revised upwards to around 1 bn. DKK. Moving to the new Cologne site opens up for totally new facilities to be established for the future manufacture of high and medium voltage cables, fiber-based monitoring cables, OPGW (Optical Ground Wires) superconducting cables and metal based products. The purpose of the relocation is to create an advanced, new production facility - created on the basis of the unique know-how possessed by the organisation in Cologne - that can meet the growing need for new cable solutions relating both to sustainable energy and to more efficient utilisation of transmission and distribution networks worldwide. Agreements, investment framework, and income from sale of property Agreements have been made for NKT Cables to build on an 84,000 m2 site in Cologne that is part of a large industrial park belonging to the Bayer group. An important element in the choice of this location is that NKT Cables will gain direct access to port facilities on the Rhine. The investment in new production facilities is expected to amount to around 750-850 mDKK in the period 2008-2010. The sale of the company's existing domicile - a 126,000 m2 building in Schanzenstrasse - will have a positive effect on liquidity of around 260 mDKK and generate income before tax of around 60-70 mDKK effective in 4th quarter 2007. This amount must be added to the NKT Group's expectations for 2007, comprising earnings before tax of around 925-950 mDKK as published in our Interim Report for 3rd quarter 2007 (Stock Exchange Release No. 22). Consequently, our expectations for 2007 are revised upwards to around 1 bn. DKK. Agreement has been reached with the buyer of the Schanzenstrasse property for NKT Cables to rent its existing production and office facilities for a couple of years while the new factory is being established. Retention of know-how and potential for business expansion Several contractual agreements still await formal conclusion. But assuming all contracts are finalised and signed, NKT Cables will commence the establishment of the company's new production facilities and start planning the relocation of its 500 employees at the start of 2008. As the new factory will be only a relatively short distance from the existing plant it will be possible to retain the special skills and crucial know-how possessed by the Cologne organisation. The location on the Rhine will open the way for a considerable simplification of transport arrangements for the large, heavyweight cable shipments, and a number of possibilities also exist for expanding the company's existing business base - for example, with the manufacture of offshore cables based on new cable technologies. The new plant is planned to come on stream in 2nd quarter 2009, with transfer of production from the existing facility to the new facility being completed in autumn 2010. NKT Cables' future production capacity for high voltage cables will be significantly enlarged as a result of the new plant. Further information A press notice from NKT Cables is available on www.nkt.dk under press releases. Read about NKT Cables at www.nktcables.com Should you require further information, please contact the undersigned on telephone no. +45 4348 2000. Yours faithfully NKT Holding A/S Thomas Hofman-Bang President and CEO