Saab AB submits Gripen proposal to Switzerland

Nordic Business Report, July 2, 2008

NORDIC BUSINESS REPORT-2 July 2008-Saab AB submits Gripen proposal to Switzerland(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com

Swedish defence and aerospace group Saab AB (OMX Stockholm: SAAB B) said on Wednesday (2 July) that it has submitted a Gripen proposal to Switzerland.

The proposal was handed over to the Swiss department for procurement of technologically complex systems and defence technology, armasuisse, in Berne, the company said.

The proposal is a response to the Request for Proposal (RFP) which armasuisse issued on 7 January 2008.

Switzerland has a need to replace its fighter aircraft F-5E/F Tiger and Gripen is one of three potential suppliers, Saab said.

Saab announced in a seperate statement that it has signed a Memorandum of Understanding regarding industrial cooperation with Rheinmetall Schweiz AG and Pilatus Aircraft.

Both agreements are connected to a possible Swiss acquisition of the Gripen fighter aircraft, the company said.

Saab, headquartered in Stockholm, Sweden, is a global high-tech group providing products, services and solutions from military defence to civil security. The group has 13,700 employees worldwide and annual sales of SEK23bn.

One British pound (GBP) is worth approximately 11.85 Swedish kronor (SEK).

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