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I see. You might need to set the model of your keyboard like this (if it is listed):

Open the control panel (kcontrol). You can do this from the K menu button (K -> system settings).
In Personal -> Regional & language -> keyboard layout -> layout (tab), there should be a "keyboard model" selection box. See if the type of keyboard you use is listed there and select it if it is. For me this is "Dell Laptitude". If there isn't an exactly correct one, try something from the same manufacturer.
Click apply and close the control panel.

Kubuntu is configured by default that if it seems a keypress of a media key identified as volume up or down it will adjust show the volume level and show a small volume level meter in the centre of the screen.

Another way to see if it's working properly is to use the xev program. This stands for x event viewer. If you start this program from a terminal (just type xev into a terminal and hit return), you will see s small window appear. If you mouse-over this window a load of text will print in the terminal with listings of mouse movement events. Leave the mouse of the window and press the media key. If the key is identified correctly you will see something like this when you release the key:

Code:

KeyRelease event, serial 29, synthetic NO, window 0x3800001,

    root 0x187, subw 0x0, time 3804229226, (43,92), root:(51,871),

    state 0x0, keycode 174 (keysym 0x1008ff11, XF86AudioLowerVolume), same_screen YES,

    XLookupString gives 0 bytes:

    XFilterEvent returns: False

The important thing is the XF86AudioLowerVolume. If the keyboard is not properly configured you will not see this identifier, just the keysym. In this case, paste the keysym (and the work keysym) into google and see if you can find a reference to the keyboard model you should use. :)