New partner in Saab Grintek Defence

New partner in Saab Grintek Defence

A consortium led by Imbani Amandaba (Pty) Ltd acquires 25 per cent plus 1 share
of South African Saab Grintek Defence (Pty) Ltd. 

Saab has concluded a Black Economic Empowerment transaction with Imbani
Amandaba, a 100% black owned company whose members consist of investors from
historically disadvantaged groups. The consortium has subscribed for 25 per cent
plus 1 share in Saab Grintek Defence. The transaction involves the issue of new
shares to the consortium at a value of R95m. 

South Africa's Black Economic Empowerment policy is aimed at promoting the
economic and social development of historically disadvantaged individuals across
the country. In accordance with this policy a Black Economic Empowerment partner
is required in order to successfully compete and operate in the South African
market. Saab embraces this policy and is committed to meeting the requirements
of its accompanying Codes of Good Practice. The empowerment credentials of
Imbani Amandaba will be complemented through the inclusion of suitable
constituted Broad Based Black Economic Empowerment (BBBEE) group. The process to
identify such a group is underway.

“This transaction reflects Saab's confidence in the opportunities in South
Africa and our commitment to South Africa's industrial growth and future
prosperity,” says Åke Svensson, CEO of Saab. “Imbani Amandaba will add value in
business growth and strategic positioning of Saab in the South African and
African markets.”


Saab serves the global market with world-leading products, services and
solutions ranging from military defence to civil security. Saab has operations
and employees on all continents and constantly develops, adopts and improves new
technology to meet customers´ changing needs.

For further information, please contact:
Toni Eriksson, Acting Press secretary, Saab AB
Telephone: +46 (0)734-18 00 18

www.saabgroup.com

The information is that which Saab AB is required to declare by the Securities
Business Act and/or the Financial instruments Trading Act. The information was
submitted for publication on 24 June at 15.00.