The Gripen Solution for Hungary

SAAB-BAE SYSTEMS Gripen has today submitted a proposal in response to
Hungarian government's request for information (RFI) for the modernization
of the Hungarian Air Force. The proposal is based on the supply of up to
24 NATO-interoperable Gripen fourth-generation multi-role/swing-role
fighters.

Supported by a flexible finance package and an innovative industrial
cooperation program that would provide significant long-term economic
benefits, the aircraft would be delivered from 2005.

The specific benefits to Hungary of a Gripen solution are:

From 2005, the delivery of up to 24 fourth-generation NATO-interoperable
Gripen fighters, (including four two-seater variants) which will form the
core of Hungary's modernized air force to fulfill its national defense and
NATO requirements.

Linked to the procurement of Gripen, an opportunity to further stimulate
Hungarian industry in both the commercial and defence sectors through the
development of strategic partnerships with key European companies.

A long-term and flexible finance proposal, backed by the governments of
Sweden and the United Kingdom, that could delay the normal initial capital
outlay involved with a major acquisition program.

A complete logistics and pilot-training support package which could
include the opportunity for a number of Hungarian pilots to train with the
Swedish Air Force on Gripen, enabling the early establishment of fully
qualified multi-role/swing-role operational instructors and pilots.


"A new-build Gripen solution is the best possible option for the Hungarian
Air Force, for Hungarian industry and for the Hungarian national economy,"
states Jan Narlinge, managing director, SAAB-BAE SYSTEMS Gripen. "It
provides the best long-term solution for Hungary, not just in terms of
meeting national and international defense obligations, but also in terms
of affordability and delivering economic benefits."

Backed by the Swedish and United Kingdom governments and supported by the
combined experience and resource of companies including Volvo, Ericsson
and Investor (one of the world's biggest industrial conglomerates) Gripen
would provide Hungary with a significant, wide-ranging program of
industrial benefits that go far beyond those associated with traditional
offset.

"Hungarian industry would benefit from participation in a comprehensive
program of long-term partnerships across a wide range of industrial
sectors," promised Torbjorn Edberg, SAAB-BAE SYSTEMS' Gripen director for
Hungary. "These partnerships and associated investments would not only
provide Hungary with economic benefits before the first financial payment
was due but would also continue well beyond the delivery period of the
aircraft."

Note to editors:
Gripen is the world's first in service fourth-generation fighter, designed
to meet all known and perceived 21st century defense threats. It is
produced by a joint venture company, SAAB-BAE SYSTEMS Gripen AB, in which
Sweden's SAAB AB and BAE SYSTEMS of the United Kingdom (formerly British
Aerospace) have equal shares.

The joint venture combines the product strength of Gripen with BAE
SYSTEMS´ extensive experience of supplying NATO and other world markets.
It manufactures, markets and supports Gripen internationally.

For further information please contact:
John Neilson, Vice President Communications, SAAB-BAE SYSTEMS Gripen
Tel.: +44 (0) 1252 384795 Mobile: +44 (0) 802 337704
john...@baesystems.com

Marie Aktö, Communications Manager, SAAB-BAE SYSTEMS Gripen
Tel.: +46 (0) 13 184216 Mobile: +46 (0) 70 989 7110
mar...@saab.se www.gripen.se

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