Gripen contract signed for Czech Republic

Gripen contract signed for Czech Republic Today the Swedish Government as well as the Czech Government, has signed a Memorandum of Understanding (MoU), for the lease of 14 newly produced Gripen fighters for a duration of 10 years. At the same time Saab is entering into an agreement with the Swedish Defence Materiel Administration regarding modification and adaptation. "Today's decision is further proof that our export-related efforts with the Gripen have paid off, and it is an important step for us on the international market. Sweden is one of only five countries worldwide to develop advanced military fighter aircrafts, and after today's decision the Czech Republic is the fourth country to choose the Gripen, after Sweden, South Africa and Hungary," says Åke Svensson, CEO of Saab AB. In tandem with this MoU, Gripen International, owned by SAAB along with British BAE Systems, is signing an offset agreement linked to the main order. The agreement will enable industrial cooperation and economic development for the Czech Republic. The Czech Republic's decision is the result of many years of selections. The country recommended the Gripen in December 2003, subsequently initiating negotiations with the Swedish State to lease Gripen fighters intended for Sweden. The Gripen was chosen ahead of various competitors. Pilot and engineer training will initially be conducted in Sweden by the Swedish Air Force. Modification and adaptation to Czech demands and specifications will take place at Saab Aerosystems in Linköping, Sweden. The first Gripen fighters will be delivered to the Czech Republic in 2005. Saab will also conduct maintenance and service during the full lease period. 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 integration. For further information, please contact: Iréne Svensson, Group Senior Vice President, Saab AB, tel +46 (0)734-18 71 30 irene.svensson@saab.se Peter Larsson, Press Officer, Saab AB, tel +46 (0)734-18 00 18 peter.larsson@saab.se www.saab.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/06/14/20040614BIT00500/wkr0001.pdf

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