Gripen and VARIG'S VEM sign memorandum of understanding

GRIPEN AND VARIG'S VEM SIGN
MEMORANDUM OF UNDERSTANDING

Gripen International, who are bidding for the supply of its Gripen
supersonic multi-role fighter to meet the Brazilian governments
requirement for new jet fighter aircraft, have announced that it has
signed a Memorandum of Understanding with VEM-VARIG Engineering and
Maintenance.

Under the terms of the MoU, the parties have agreed that in the event
that Gripen International is awarded the contract to supply Gripen
fighter aircraft to the Brazilian Air Force, they will evaluate
potential projects in the areas of logistics support and the transfer of
technology as part of the program of industrial cooperation required
under the government's tender process.

The MoU agreement outlines potential cooperation activities such as
logistics support, maintenance of Gripen avionics and other aircraft
systems and the transfer of technology and data to enable the testing
and verification of avionics and other aircraft equipments. The
technology transfer would also include the provision of training for the
support and maintenance of equipment following delivery of aircraft to
Brazil.

Gripen, which is already in service with the Swedish Air Force, has also
been selected by South Africa, Hungary and the Czech Republic. Gripen is
the most cost-effective and capable supersonic, swing-role fighter in
operational service today.

Commenting on the conclusion of the MoU negotiations between Gripen
International and VEM-VARIG Engineering and Maintenance Rolf Rue, BAE
SYSTEMS regional managing director, said "the agreement opens the door
to further collaboration with shareholders of Gripen International, SAAB
AB and BAE SYSTEMS in military or civil activities.

According to Vice President of Gripen Brazil, Christer Ros, "this
agreement opens up significant possibilities for the future, both in
relation to the long term support of Gripen in Brazil and for other
products in SAAB AB and BAE SYSTEMS product portfolios.

Notes to Editors:

Gripen International is a company owned jointly by Saab AB of Sweden and
BAE SYSTEMS of Great Britain. www.gripen.com

VEM - VARIG Engineering and Maintenance is a Brazilian company that
provides engineering and heavy maintenance (repair and overhaul) for
aircraft and its components. www.varigvem.com.br.

For further information, please contact
Owe Wagermark, Senior Vice President Communications
Gripen International
March 6 on Brazilian mobile phone +55 21 9605 8378
From March 7 Phone: +46 13 18 4014 Mobile +46 70 889 60 00
Telefax: +46 13 18 0055
Email: owe.wag...@saab.se

Celia Santos, G&A, Gripen PR Agency in Brazil
Phone +55 11 303 73 225

www.gripen.com

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