1. Oslo, 13th. February 2008 Eirik S. Larsen, CEO Kari Duestad, CFO REACHING FURTHER THROUGH PEOPLE AND INNOVATION Comrod Communication ASA Q4 Presentation Increased profitability and strong growth

2. AGENDA I.Q4 highlights and introduction II.Q4 Financials III.Business Areas Highlights IV.Summary

3. HIGHLIGHTS Q4 Strong growth during the fourth quarter Growth based on market foothold established over the last years. Trend confirmed during the first part of Q1 2008. Significant results improvement EBIT of NOK 13.5 million in Q4 and NOK 29.5 million for 2007 in total All business areas are again profitable Successful ramp up of production capabilities increases operational flexibility Strengthened relations to key customers Positive market outlook based on leading market position and new product launches

4. COMROD COMMUNICATION GROUP No.1 globally on tactical antennas Leading market positions within defense masts and power supplies Preferred supplier to the major defense radio communication manufacturers World wide sales to more than 60 countries. Headquarter and main factory at Tau, Norway. Factory in France; Power division located in Asker Current turnover about 300 million NOK and about 230 employees COMPANY PROFILE A leading player within the global markets for advanced tactical antennas, masts, power supply and related industrial products

6. BUSINESS MODEL AND STRATEGIC TARGET Core competencies Design and manufacturing of antennas Antenna systems Telescopic masts Power supplies and battery chargers for defense applications Product development Based on the rapid advances in radio communication technology as well as the specific needs of our key customers. Variants within a product concept is normally adapted specifically to the customers need Key customers Main defence communication equipment manufacturers Customer relationships Long term Based on proven track record, technical qualification and rigorous performance testing Contracts Large defense communication programs lay behind most of the contracts These programs can be national or multinational and are funded by governmental money through the MODs. Typical timelines are 3-5 years and longer Growth platform Established market foothold Recent successful launch of new products New products in the pipeline for this year Total market growing annually by 10 – 15% Turnover target NOK 500 million medium term is judged as a realistic target

7. AGENDA I.Q4 highlights and introduction II.Q4 Financials III.Business Areas Highlights IV.Summary

8. HIGHLIGHTS OF THE FINANCIAL PERFORMANCE IN Q4 Substantial growth in turnover 53 % in Q4 47 % as of Q4 Significant growth in EBIT 31 % in Q4 52 % as of Q4

9. Q4 MAIN FINANCIAL RESULTS Q4 2007Q4 2006D 06 -07 Total Sales 103 58867 59653,2 % EBITDA 16 74512 22437,0 % EBIT 13 57710 39430,6 % EBIT % 13,1%15,4%

10. Q4 MAIN FINANCIAL RESULTS Q4 2007 YTDQ4 2006 YTDD 06 -07 Q4 2006 Proforma YTD Total Sales290 138151 27391,8 %197 523 EBITDA41 40424 54468,9 %29 241 EBIT29 57418 85856,8 %19 458 EBIT %10,2%12,5%9,9%

11. SEGMENT INFORMATION: TURNOVER PER BUSINESS AREA

12. CASH FLOW STATEMENT 31.12.200731.12.2006 Profit before tax18 15311 732 Depreciation and write-downs11 8305 686 Change in net working capital-26 157-9 059 Net cash flow from operations3 8268 360 Net cash flow from investment activities11 974-122 587 Net cash flow from financing activities-9 670115 733 Net change in cash and cash equivalents6 1301 506 Cash and cash equivalents at start of period3 1841 678 Cash and cash equivalents at end of period9 3143 184 Credit facility20 0005 000

13. BALANCE SHEET

14. AGENDA I.Q4 highlights and introduction II.Q4 Financials III.Business Areas Highlights IV.Summary

15. ANTENNAS – HIGHLIGHTS Improved financial results driven by growth in turnover and improved efficiency Increase in deliveries on contract with Harris Corporation in the US The dominant position of Harris place Comrod in unique position for further growth New antenna contracts secured New contract in October on new multiband antenna to major NATO country; NOK 12,7 mill. Contract with Norwegian Army in October on vehicle antennas; NOK 6,7 million Ramped up production at Tau factory; output capacity now doubled compared to 2006 Factory in Hungary acquired for added operational flexibility and to secure future profitability High sales expected also in the first quarters of 2008 BUSINESS AREA Comrod antennas for the defence/ military market and for civilian/commercia l use.

16. MASTS – HIGHLIGHTS Business Area Profit improvement through improved operations confirmed by Q4 excellent EBIT margins New level for annual turnover established; 2007 turnover was twice the turnover of 2006 Agreement with THALES on streamlining supply chain Increased use of systems related to Battle Field Surveillance and Line Of Sight main driver for the growth in the market for masts Existing contracts and order book indicates continued good sales in first half of 2008 BUSINESS AREA Telescopic, sleeve, man- pack, manual and motorized masts.

17. INDUSTRIAL PRODUCTS – HIGHLIGHTS Improved profitability through 2007 by successful restructuring of production Revenue growth related to the offshore application business Production capacity is substantially increased for capturing on the high demand within offshore application products Insulator products profitability improvement program started BUSINESS AREA Custom designed products for commercial and military applications

18. POWER SUPPLY – HIGHLIGHTS Excellent financial results for 2007 First new contract with new customer secured; Contract on new 8 position battery chargers with Harris Corp in the USA. Contract value: Start of deliveries: Outlook medium term is good; short term reduction in turnover growth in a transition period between contracts may be seen first half of 2008 BUSINESS AREA Experience from more than 130 OEM projects worldwide.

19. UMS NORWAY – UNMANNED SYSTEMS Development and sales of UAVs (Unmanned Aerial Vehicles) Targeting the rapidly increasing demand for tactical UAVs in the defense and civil markets Investments to date are limited Full scale prototype to be airborne within March this year, followed by a period of operational tests Comrod Communication ASA - 70% of the shares in UMS

20. AGENDA I.Q4 highlights and introduction II.Q4 Financials III.Business Areas Highlights IV.Summary

21. SUMMARY AND OUTLOOK Significant improvement in EBIT for Q4 and for the year in total Strong growth in turnover Operational improvements achieved as planned and capacity flexibility established Integration process is in good progress – motivation from achieving real results together Strong market foothold and total market growth indicates high turnover levels also in 2008

22. REACHING FURTHER – THROUGH PEOPLE AND INNOVATION Thank you for your attention, any questions are welcome. www.comrod.com