SAS carries out the reverse split 1:30

SAS carries out the reverse split 1:30

The Annual General Meeting on 7 April 2010 resolved upon a reverse split
of SAS shares and authorized the Board of Directors to decide the record
date for the reverse split. Following the authorization the Board of
Directors has decided that the record date shall be 9 June 2010. 

The last day of trade in SAS' shares on NASDAQ OMX Stockholm, NASDAQ OMX
Copenhagen and Oslo Børs before the reverse split is 4 June 2010. The
first day of trade in SAS' shares after the reverse split is 7 June
2010, which implies that the share price from and including 7 June 2010
will reflect the effect of the reverse split. In connection to the
reverse split the SAS share will change ISIN code. From and including 7
June 2010 the share will be traded with a new ISIN code. The new ISIN
code is SE0003366871. 

A reverse split 1:30 implies that 30 shares in SAS, each with a quota
value of SEK 0.67 will be consolidated into one share with a quota value
of SEK 20.10. Following the reverse split the number of shares will be
reduced from 9,870,000,000 to 329,000,000. 

For those shareholders who on the record date for the reverse split do
not hold a number of shares corresponding to a whole number of new
shares, ownership of the excess shares will pass from such shareholders
to SAS and thereafter be sold. The proceeds from the sale will be
distributed among the shareholders who are entitled thereto. This will
occur around 10 June 2010 in Denmark and around 15 June 2010 in Sweden
and Norway. The currency conversion for payment in DKK of the proceeds
from the sale will be determined based on ECB's fixing exchange rate on
8 June 2010, according to the following formula: EUR/DKK ÷
(EUR/SEK-0.05). For payment in NOK, the currency conversion will be
based on ECB's fixing exchange rate on 14 June 2010, according to the
following formula: EUR/NOK ÷ (EUR/SEK-0.05). 

”The reverse split is carried out to facilitate the trade in the SAS
share, and thereby improve the liquidity of the share. The reverse split
does not require the shareholders to take any direct measurements.
However, to avoid selling excess shares, the number of shares on the
record date shall be equally divisible by 30. The last trading day to
obtain a number of shares that is equally divisible by 30 is 4 June
2010”, says Sture Stölen, Head of SAS Group Investor Relations. 

Time table for the reverse split
4 June           Last day of trade in the SAS' shares before the reverse
split
                - Last day with the possibility of obtaining a number of
shares in SAS equally divisible by thirty
7 June           First day of trade in the SAS' shares after the reverse
split
                - New share price and ISIN-code
9 June          Record date for the reverse split
around 10 June  Payment of proceeds from sale of excess shares in
Denmark
around 15 June  Payment of proceeds from sale of excess shares in Sweden
and Norway

An information sheet with information about the reverse split is
available on SAS website.
 

For further information, please contact
Sture Stølen, Head of SAS Group Investor Relations, +46 70 997 14 51
SAS Group Investor Relations

SAS discloses this information pursuant to the Swedish Securities Market
Act and/or the Swedish Financial Instruments Trading Act. The
information was provided for publication on 1 June 2010, at 11:00 a.m.
CET. 

Disclaimer
This document is not being distributed to persons in any state or
jurisdiction where the offer or sale of the rights or shares is not
permitted. 

These materials are not an offer for sale of securities in the United
States. Securities may not be sold in the United States absent
registration with the United States Securities and Exchange Commission
or an exemption from registration under the U.S. Securities Act of 1933,
as amended. The issuer of the securities does not intend to register any
part of the offering in the United States or to conduct a public
offering of the Rights or the Shares in the United States. 

This document is only being distributed to and is only directed at (i)
persons who are outside the United Kingdom or (ii) to investment
professionals falling within Article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii)
high net worth companies, and other persons to whom it may lawfully be
communicated, falling within Article 49(2)(a) to (d) of the Order (all
such persons in (i), (ii) and (iii) above together being referred to as
“relevant persons”). The Rights and the Shares are only available to,
and any invitation, offer or agreement to subscribe, purchase or
otherwise acquire such securities will be engaged in only with, relevant
persons. Any person who is not a relevant person should not act or rely
on this document or any of its contents. 

This document is an advertisement and is not a prospectus for the
purposes of Directive 2003/71/EC (such Directive, together with any
applicable implementing measures in the relevant home Member State under
such Directive, the “Prospectus Directive”). A prospectus prepared
pursuant to the Prospectus Directive will be published, which, when
published, can be obtained from the SAS Group. Investors should not
subscribe for any securities referred to in this document except on the
basis of information contained in the prospectus. 

In any EEA Member State that has implemented the Prospective Directive,
this communication is only addressed to and is only directed at
qualified investors in that Member State within the meaning of the
Prospectus Directive.