Hagglunds Vehicle AB and AerotechTelub AB Combine Forces

Linkoping, SWEDEN

STOCKHOLM, Sweden, Jan. 10, 2002 (PRIMEZONE) -- Hagglunds Vehicle and AerotechTelub have signed a long-term joint working agreement for armored combat vehicles. This agreement addresses the market requirement for new technology solutions and maximizes the advantage of a combined resource to fulfil a broader technical undertaking.

The Swedish Ministry of Defense and FMV are aiming to transfer a greater responsibility for the maintenance and technical support of armored fighting vehicles to the Swedish defense industry. This will result in increased technical competence and responsibility across the industry. Through their new agreement, Hagglunds Vehicle and AerotechTelub will be able to offer such services to the Swedish MoD.

Working together in this way will enable Hagglunds to purchase sophisticated technical and development work from AerotechTelub for current and future development projects, both in Sweden and abroad.

"The agreement will also provide new opportunities for AerotechTelub" says Jan Eiborn, Managing Director of AerotechTelub. "The Swedish MoD and Swedish defense industry are two of our major markets for technical and maintenance work. The anticipated change in MoD policy will have a significant impact on our industry as we begin to undertake responsibility for the maintenance of high-tech equipment systems, a sphere of activity of great interest to us and in which our expertise and experience is particularly well-suited."

"This agreement means that Hagglunds can now offer the MoD a complete service, encompassing all aspects of armored combat vehicle system maintenance. This will affect vehicles Hagglunds has already delivered, as well as future vehicle systems. It altogether strengthens our position as the Nordic leading supplier of military vehicle-based equipment systems" commented Sven Kagevall, Managing Director of Hagglunds Vehicle.

For further information, contact: AerotechTelub AB, Business Development Manager Thomas Eriksson, +46 13-23 18 44, +46 73-668 80 03

Sven Kagevall President, Hagglunds Vehicle AB Tel +46 660-801 90

Nils Hornstrom Director Public Relations, Hagglunds Vehicle AB Tel +46 660-806 04, 070-207 48 61

Hagglunds Vehicle AB is wholly owned by Alvis plc. The Hagglunds Vehicle Group comprises Hagglunds Vehicle AB in Ornskoldsvik, Sweden, Hagglunds Moelv AS in Norway and a 50% share in Patria Hagglunds OY, Finland. The Hagglunds Vehicle Group employs around 1000 personnel and has a turnover of SEK 1.8 billion. Alvis plc is listed on the London Stock Exchange and is involved with the design and production of armored fighting vehicles and other specialist military vehicles. The Alvis Group turnover in 2000 was 204 million pounds.

The media can choose and download a selection of print-quality images free of charge from the Hagglunds Vehicle website: www.haggve.se

AerotechTelub is a service company which offers qualified technical services, maintenance and customer-adapted system solutions within information technology, electronics and aviation technology for the military and civil defense, government departments and public authorities as well as selected sectors of trade and industry. AerotechTelub, a company in the Saab Group, has 2,600 employees and a turnover of approximately SEK 2,4 billion. Saab is one of the world's leading high-technology companies, with its main operations focusing on defense, aviation and space.

Saab is one of the world's leading high-technology companies, with its main operations focusing on defense, aviation and space. The Group covers a broad spectrum of competence and capability in systems integration.

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