Saab Receives an Order Worth 104 Million AUD for Australian Frigates

Business Wire, April 27, 2007

STOCKHOLM, Sweden -- Saab Systems (STO:SSABB) in Australia has received an order for upgrade and maintenance of the Royal Australian Navy's ANZAC class frigates. The contract is an Alliance agreement of nine years duration with an option for extension for six years. The initial value of the contract to Saab is 104 million AUD. Further orders can be expected during the course of the agreement.

"The order further strengthens Saab's naval position and secures our position in Australia", says Merv Davis, Vice President Naval Systems at Saab Systems in Australia.

The order includes modernisation and improvement of, among other things, the ships' combat management system and fire control system. The order will mean development work in both Sweden and Australia. The task will be known as the ANZAC Ship Integrated Material Support Project Alliance which consists of Saab, the Australian Defence Material Organisation and the shipyard Tenix .

Saab have worked with the ANZAC frigates since 1990 and have continuously improved the capability of the ship. This has led to the ANZAC frigates being one of Australia's most successful defence procurements and has resulted in some of the world's most capable frigates.

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.

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