Saab employees choose to stay shareholders

The stock option converting period is now ended and in total SEK 245 m
corresponding to 2 690 671 B-shares have been converted, a dilution of
the total share capital by 2,53 % and of the total voting rights by 1,64

" We are happy to see that so many of our employees have chosen to
remain shareholders in Saab. The share value has increased and the
convertible bond loan has been a stable placement for their owners
during an otherwise turbulent period on the market", says Åke Svensson,
President and CEO of Saab.

A convertible bond loan was offered to Saab's employees 1998 amounting
to SEK 254 m, corresponding to an increase in the total number of B-
shares to 2 787 500. The conversion period for the options was from
December 4, 2001 through July 15, 2004. The conversion rate was SEK 91.

After the conversion Saab has a total share capital of 1 746 million SEK
and the total number of shares is 109 150 346. The remaining part, 9
billion SEK, will be repaid in cash on July 2004.

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 capabilities in systems

For further information please contact:
Lars Wahlund, Senior Vice President Corporate Financial Control, Saab AB
Tel: +46 13 18 71 35, cellular: +46 734 18 71 35

Göran Wedholm, Manager Investor Relations, Saab AB
Tel: +46 13 18 71 21,cellular: +46 734 18 71 21

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