Saab Bofors Underwater Systems AB to negotiate closure of Landskrona unit

Saab Bofors Underwater Systems AB to negotiate closure of Landskrona
unit

Following a decision by the Saab Bofors Underwater Systems AB Board of
Directors, the company is to begin co-determination talks with the
affected unions regarding the closure of operations in Landskrona.

The decision is based on a need to reduce costs and a falling market for
the Landskrona unit's product areas. The closure affects all employees
at the unit. Notice for 41 people will be submitted to the county labour
board in the middle of this week. A limited number of employees will be
offered continued employment at the company's facilities in Motala. The
closure is expected to be completed by the end of June 2002.

"This has been a very difficult decision to make, but it is an action we
are unfortunately forced to take," says Mikael Grodzinsky, President of
Saab Bofors Underwater Systems AB, and continues:

"We will be doing our best to minimise the impact for all employees
affected by the decision."

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:
Mikael Grodzinsky, President, Phone: +46 141224510,
Saab Bofors Underwater Systems AB +46 73 6682600

Anders Florenius, Communications and Public Affairs,
Phone: +46 586 81223,
Saab Bofors Dynamics AB +46 70 5823230

www.saab.se

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