For Worldwide Release

Draper, Utah - February 28, 2008 - Kongsberg Maritime AS has acquired Draper, Utah, USA-based GlobalSim, Inc. for approximately $20M in cash. The purchase price is based on certain profit targets and related agreements.

With over 2,500 employees located in 20 different countries, Norway-based Kongsberg Maritime is the market leader in maritime dynamic positioning systems, automation and surveillance systems, oil & gas process automation, satellite navigation and hydroacoustics. Important market segments include merchant marine, oil & gas, offshore and subsea, fishery and fishery research, marine information technology, simulation, and process automation. Kongsberg Maritime is a division of the Kongsberg Group (KOG - Oslo Stock Exchange)

The acquisition of GlobalSim gives Kongsberg Maritime a broader product portfolio in the growing market of maritime training and simulation. "The need and usage of advanced training tools and solutions is increasing in traditional maritime education, advanced research and assessment of maritime operations, and the training and operation of offshore applications. The acquisition of GlobalSim will further strengthen Kongsberg Maritime simulation and training as market leader in the expanding marketplace," stated Lars Erik Hilsen, General Manager of Kongsberg Maritime Simulation and Training.

"Kongsberg Maritime's considerable resources and extensive expertise, particularly in the areas of related technologies and market channels, will enable GlobalSim to strengthen its market leading position in several segments. Further, the combined companies offer several exciting areas of new simulator applications", says Scott Huntsman, President and CEO of GlobalSim.

GlobalSim, located in Draper, Utah, USA, is a world leader in the development of advanced simulation systems and solutions. The company offers MasterLift simulators for training crane and material handling operators, and a wide variety of custom simulation programs for aviation, maritime, military, driving and other commercial applications. In addition, GlobalSim has established itself as a leader in the developing field of Immersive Training Technology. As a key partner in the development and delivery of the Battle Stations 21 Immersive Training Environment last year, GlobalSim is one of only a handful of organizations with this sophisticated knowledge and capability.

For more information, contact Alan Green - 801.571.9094 x126 agreen@globalsim.com