The dependence of K+ production on the nuclear equation of state is investi
gated in heavy-ion collisions. An increase of the excitation function of K multiplicities obtained in heavy (Au + Au) over light (C + C) systems when
going far below threshold which has been observed by the KaoS Collaboratio
n strongly favors a soft equation of state. This observation holds despite
the influence of an in-medium kaon potential predicted by effective chiral
models which is necessary to reproduce the experimental K+ yields.