Hungary chooses Gripen

Hungary has chosen Gripen, and is the first NATO country to do so. The
MOU signed today entails Hungary leasing 14 Swedish Gripen aircraft over
a 10-year period.

Sweden's Minister for Defence Björn von Sydow today signed a Memorandum
of Understanding (MOU) with his Hungarian counterpart Dr János Szabó,
which means that over 10 years, Hungary will lease 14 Gripen aircraft
currently operational within the Swedish Air Force.

At the same time, Gripen International, owned jointly by Saab and BAE
SYSTEMS, has negotiated an offset agreement connected to the Gripen
contract. The offset agreement will be signed as early as December this
year, and will afford Hungary industrial co-operation and economic
development.

"This is a breakthrough in Europe and an important step for us on the
international market," says Åke Svensson, President of Saab Aerospace in
Linköping, Sweden, which will be modifying the aircraft to Hungarian
specifications. Sweden is one of only five countries in the world that
develop advanced military aviation systems. Gripen is the only fourth
generation fighter currently in operational service. Hungary is the
third country to choose the Gripen, after Sweden and South Africa.

Pilots and engineers will initially be trained in Sweden. Adjustments
and modification to, among others, NATO standard will be carried out at
Saab Aerospace in Linköping. The first Gripen aircraft will be delivered
to Hungary in autumn 2004, and will be fully operational the following
summer.

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:
Peter Larsson, Vice President, Communications and Public AffairsPhone:
+46 70 9897109
Saab Aerospace

www.saab.se

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