Saab AB announces the sale of a 51% stock interest in Aero Systems Engineering Inc to Minnesota ASE, LLC

Saab AB announces the sale of a 51% stock interest in Aero Systems
Engineering Inc to Minnesota ASE, LLC

Aero Systems Engineering Inc (ASE), located in St. Paul Minnesota, is a
highly skilled and experienced engineering company which designs and
supplies aerospace test facilities. ASE is a leader in design and
construction of engine test facilities and wind tunnels for testing
aerospace vehicles and propulsion systems. The company has an annual
revenue of about 30 MUSD, employs 170 people and has 20 % of the stock
listed on the Nasdaq Stock Market.

Minnesota ASE, LLC is a newly formed limited liability company led by a
group of
Minnesota investors.

The sale of Saab AB's controlling interest in ASE occurred as a result
of a restructuring following the acquisition of Celsius AB by Saab AB in
March of 2000. Saab AB will retain a 29% stock interest in ASE and will
continue to have representation on the Board of ASE.

Saab is one of the world's leading high-technology companies, with its
main operations focusing on defence, aviation and space. The group
covers a broad spectrum of competence and capability in systems
integration.


For further information, please contact:
Christer Persson, Chairman ASE Phone: +1 703 683 0007

www.saab.se

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