Saab Bofors Underwater Systems signs new contract with FMV worth MSEK 210

Saab Bofors Underwater Systems signs new contract with FMV worth MSEK
210

Saab Bofors Underwater Systems AB in Motala, Sweden, has signed a
contract with the Swedish Defence Materiel Administration (FMV) for new
remotely operated underwater vehicles. They will be used by the Swedish
Navy in minehunting and other operations.

"It's very pleasing and important that we have sold this system to our
Swedish customer," says Mikael Grodzinsky, President of Saab Bofors
Underwater Systems.

The contract is worth MSEK 210 with options for approximately a further
MSEK 140. The deliveries without options will begin in 2005 and will
continue until 2007. If the options are redeemed, deliveries will
continue until 2011.

The vehicles are an evolution of Saab Bofors Underwater Systems' Double
Eagle MKIII underwater vehicle, for which contracts have been in force
since 2002 with both the Dutch and Belgian naval forces.

The contracted vehicles will be used on board the Swedish Navy's new
Visby class corvettes. They are also designed to be used from Landsort
class minehunters. Mine countermeasures entail localization,
classification and destruction of moored and seabed naval mines.

Saab Bofors Underwater Systems AB is a world-leader in areas including
remotely operated underwater vehicles for hunting and destroying mines.
The company has already delivered underwater vehicles to the Swedish
Navy and to several other countries.

The orders do not have any impact on the notice already given since they
were included in earlier forecasts.
Saab is one of the world's leading high-technology companies, with its
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:
President Mikael Grodzinsky, Saab Bofors Underwater Systems,
tel: +46 (0)73-668 2600
Anders Florenius, Director Communications & Public Affairs,
tel: +46 (0)586-812 23, +46 (0)70-582 32 30

www.saab.se


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