South African Black Economic Empowerment partner acquires 25% holding in Saab Grintek Defence Ltd

Nordic Business Report, June 24, 2008

NORDIC BUSINESS REPORT-24 June 2008-South African Black Economic Empowerment partner acquires 25% holding in Saab Grintek Defence (Pty) Ltd(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com

Swedish defence and aerospace group Saab AB (OMX Stockholm: SAAB B) announced on Tuesday (24 June) that a South African consortium led by Imbani Amandaba (Pty) Ltd has agreed to acquire 25% plus one share of Saab's South African company Saab Grintek Defence (Pty) Ltd.

The transaction will be effected as a new share issue in which Saab Grintek Defence issues new shares for a total of ZAR95m to the consortium.

The transaction is in accordance with South Africa's Black Economic Empowerment policy aimed at promoting the economic and social development of historically disadvantaged individuals across the country. Under the rules a Black Economic Empowerment partner is required in order to operate in South Africa. Imbani Amandaba is a 100% black-owned company comprising investors from historically disadvantaged groups.

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 15.81 South African rand (ZAR). One British pound (GBP) is worth approximately 11.90 Swedish kronor (SEK).

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