Alpine Aviation Purchases Two Saab 340s for New Cargo Contract in Hawaiian Islands

Alpine Aviation Purchases Two Saab 340s for New Cargo Contract in
Hawaiian Islands

Saab Aircraft Leasing has secured its second cargo customer with two
Saab 340 Cargo aircraft to Provo, Utah-based Alpine Aviation. The
aircraft will service a new multi-year contract with the US Postal
Service transporting all inter-island mail throughout the Hawaiian
Islands. Both Saab 340s will be delivered by the end of this summer.

"We are pleased that such a large and well-established cargo operator
such as Alpine Air has selected the Saab 340 as its large aircraft type
with the purchase of two aircraft. This deal has been concluded on
behalf of Bank of America with SAL acting as the marketing
representative," said SAL President and CEO Michael Magnusson. Castle
Aviation of Akron/Canton became the launch Saab 340 Cargo version in the
spring of this year.

The third largest regional cargo airline and transportation logistics
company in the US, Alpine Air has a fleet of 29 aircraft, mainly
comprised of the smaller Beech 1900 and 99 models. Alpine's annual sales
are expected to be in excess of $22 million in FY2004. The new USPS
contract, which began service on April 24, 2004, has enabled Alpine to
expand its service to include the carrying capacity offered by the Saab

"We look forward to the opportunity to more than double our previous
year's revenue as our company virtually doubled in size with the
addition of the Hawaiian contract. We look to many years of service with
the Saab 340," said Alpine Air Chairman and CEO Gene Mallette.

Saab Aircraft Leasing manages a portfolio of 289 Saab 340 and Saab 2000
aircraft leased to 25 customers in 13 countries. With 35 employees, the
company's head office is in Washington, DC and has regional offices in
Stockholm, Sweden; Tokyo, Japan. SAL is part of the Saab Aviation
Services Business Unit of Saab AB.

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 system

For further information, please contact:

Michael Magnusson, Saab Aircraft Leasing
Telephone +1 703 406 7220

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