Brisbane City Enterprises starts up new venture with Saab

Brisbane City Enterprises (BCE), the commercial arm of the Brisbane City
Council, today joined Saab Systems, a subsidiary of the international
Saab group, in a joint venture to sell state-of-the-art traffic control
systems worldwide.

BCE has a 26% share and Saab Professional Systems a 74% share of the new
joint venture company, Saab ITS, which will be based in Brisbane. The
group has already been selected for an intelligent transport system
contract in Auckland worth $5.5 million.

Two senior managers from Saab's headquarters in Sweden were in Brisbane
today to authorise the settlement and to hand over a cheque for $1
million to the new partnership.

Saab Systems has already been operating in Australia for eleven years:
concentrating on the defence systems market. The company brings an
outstanding international reputation to the joint venture with expertise
in real time systems and a strong record in project delivery.

Saab ITS will handle the international marketing and sales of BCE's two
intelligent transport products - RAPID, the real-time advanced priority
and information delivery for buses, and BLISS, Brisbane's linked
intersection signal system.

RAPID facilitates bus priority at traffic signals and provides
passengers with the latest information on the expected arrival time of
their bus.

BLISS is a computer program that monitors traffic volume at key
intersections and changes the timing of traffic signals to ensure the
most speedy and efficient traffic flow. The program was developed and
refined in Brisbane over the past 15 years and was recently delivered to
the Johor Bahru traffic authority in Malaysia.

There are few systems on the market worldwide which are able to manage
transport issues as effectively as RAPID and BLISS.

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

For further information, please contact:
Pauline Bourke, Brisbane City Enterprises Phone: +61 3403 4108,
+61 0413 334 736
Mark Proctor, Saab Systems Phone: +61 0413 893 446.

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