Bofors and Shorts Missile Systems in partnering agreement

12/22/1999 7:46 AM EST

Celsius:

Bofors Carl Gustaf AB and Shorts Missile Systems Ltd announce major
partnering agreement

Bofors Carl Gustaf AB, part of the Celsius Group of Sweden, and Shorts
Missile Systems Ltd (SMS) of Northern Ireland are delighted to announce a
major partnering agreement for the supply of MBT LAW, in response to the
British Army's requirement NLAW SR(L)4098. SMS will be the core partner of
Team NLAW-MBT UK.

Bofors are widely recognised as world leaders in the supply of man
portable, shoulder launched, short range, light-weight anti-tank weapons.
They have over one million systems fielded world wide and their MBT LAW
system has been selected as one of the two contenders to satisfy the
British Army's requirement. A PD contract is underway leading to selection
of a winner, followed by FD&P contract award in 2002.

SMS, a joint venture between Short Brothers PLC of Northern Ireland, and
Thomson CSF of France, are ideal UK partners for Bofors. They specialise
in the design, development and production of similar close range air
defence systems and have considerable experience in the supply and
manufacture of weapon systems to satisfy

UK offset requirements, for non UK partners.

Both companies look forward to building on this relationship to their
mutual benefit in the long term, through this and other opportunities.

For further information, please contact Anders Florenius, Vice
President/Group Communications, on + 46 (0)8 - 463 00 53 or + 46 (0)70 -
582 32 30 (mobile).