Saab receives SEK 2 billion order for Hungarian lease of 14 Gripen fighters

Saab receives SEK 2 billion order for Hungarian lease of
14 Gripen fighters

The extended agreement for the Hungarian government's leasing of 14
Gripen fighters from the Swedish government will also call for
modification work on the part of Saab Aerospace. The order is worth more
than SEK 2 billion to Saab.

On February 3rd, FMV (the Swedish Defense Materiel Administration) and
the Hungarian government signed an amendment to the contract signed in
December 2001 for the adaptation and support of 14 Gripen multi-role
fighters designated for use by the Hungarian Air Force. This agreement,
which involves development and modification, is worth more than SEK 2
billion to Saab.

The Hungarian Gripen will be equipped with a retractable Air-to-Air
Refueling (AAR) probe. It will have the capacity to use NATO-
interoperable weapons, including Laser-Guided Bombs (LGBs), an advanced
electronic warfare system, an On-Board Oxygen Generation System (OBOGS),
English-language full-color cockpit displays and a NATO-interoperable
communications system. This ensures that the Hungarian Gripen can
operate jointly from NATO or dispersed bases, with the alliance's air
and ground forces world-wide.

The agreement was reached because Sweden is able to offer Hungary an
aircraft of world class at a reasonable price and on good financial
terms, as well as a long-term industrial cooperation.

- This solution show the capacity for further development that is
offered by the Gripen system. Furthermore, it confirms Gripen's position
within the NATO Air forces. It should be possible to offer similar
solutions to other countries, says Åke Svensson, General manager for the
business area Saab Aerospace.

The Gripen aircraft will be adapted to meet the extended specification
required by the government of Hungary for the modernization of its air
force to meet national and NATO defence needs. After a leasing period of
ten years, Hungary intends to buy the aircrafts.

The 14 Gripen fighters will be modified at Saab Aerospace in Linköping,
Sweden and will be delivered in 2006.

Saab is one of the world's leading high-technology companies, with main
operations focusing on defense, 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 Affairs,
Saab Aerospace
Telephone: +46 13-46 53 109 and +46 709-89 7109
www.saabaerospace.com

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