SAAB: Gripen - Agreement in Norway

Business Wire, April 26, 2007

STOCKHOLM, Sweden -- Today Norway and Saab (STO:SABB), through Gripen International, have signed a Letter of Agreement regarding the future development of the Gripen fighter. The total value of this agreement is some 150 million Norwegian Kronor (approx. $25 million). This agreement strengthens Gripen's chances of being selected as the future fighter aircraft for the Norwegian Air Force.

The Norwegian Defence Minister Anne-Grete Strom-Erichsen and the Swedish Defence Minister Mikael Odenberg, signed a Memorandum of Understanding on co-operation in development work on the future versions of Gripen.

This agreement is an important step for Gripen as a candidate to be selected as Norway's future fighter aircraft, which is planned to be in-service with the Norwegian Air Force around 2015. Through this agreement, the Norwegian authorities and Norwegian commercial companies will get an extensive understanding and insight into the Gripen system, leading to Norwegian participation in future development work in co-operation with Saab.

There was also a Letter of Agreement (LoA) signed between the Norwegian authorities and the Saab subsidiary Gripen International. This agreement will enable Norwegian companies to work on advanced development work in a range of high technology areas, such as composites, communication systems, studies and integration work for Norwegian weapon systems, ammunition, logistics and data systems. The total value is worth some 150 million NOK for a period of two years, with the option to further extend the agreement. At this time, Norwegian companies will take part in an increased industrial cooperation connected to the development of the future Gripen.

Gripen International Managing Director Johan Lehander is very positive about the forthcoming co-operation:

"These two agreements clearly emphasise the importance the Norwegian government puts in co-operation between Norway and Sweden. From a Saab perspective, it means that we are now industrial partners. In the longer term, it also strengthens the possibilities for Gripen to replace the current F- 16 fighter aircraft in the Norwegian Air Force", says Lehander.

Gripen is the first of the new generation, true multi-role combat aircraft to enter service. Using the latest available technology it is capable of performing an extensive range of air-to-air and air-to-surface operational missions and employing the latest weapons.

Gripen is designed to meet the demands of current and future threats, while at the same time meeting strict requirements for flight safety, reliability, training efficiency and low operating costs. Gripen is in service with the Swedish, Hungarian and Czech Republic Air Forces and has also been ordered by the South African Air Force. The UK Empire Test Pilots' School (ETPS) is operating Gripen as its advanced fast jet platform for test pilots worldwide.

Gripen International is a subsidiary of Saab AB and acts as a prime contracting organization, responsible for marketing, selling and supporting the Gripen fighter worldwide. Gripen International combines the strength of its international industrial partners, which are among the world's most experienced and respected manufacturers of aerospace and defence equipment

Saab serves the global market with world-leading products, services and solutions ranging from military defence to civil security. Saab has operations and employees on all continents and constantly develops, adopts and improves new technology to meet customers' changing needs.

www.saabgroup.com www.gripen.com

Photographs and illustrations: A selection of the very latest illustrations and photographs of Gripen are available to download from our website www.gripen.com. Go to 'Gripen Image Base', New Photos

This information was brought to you by Cision http://newsroom.cision.com