Saab Wins Upgrade Contract for the SK60 Training Aircraft

Regulatory News:

The defence and security company Saab (STO:SAABB) has received an order valued at MSEK 130 from FMV (the Swedish Defence Materiel Administration) for the development and upgrade of the Armed Forces SK60 training aircraft.

"This is an important order for Saab that will secure additional jobs, both in terms of workshop and engineering resources. The upgrade involves the modernisation of the SK60 aircraft, making them more competitive for many more years to come," says Lars-Erik Wige, business unit manager, Saab Aerotech.

The order includes the installation of a new GPS, audible altitude and primary warning signals for the pilot plus the replacement of certain instruments. The result is a new aircraft cabin layout in which, for example, the altitude and speed go from being displayed in metres and kilometers to providing the pilot with information in feet and knots, just as in today's Gripen system. The upgrade will be fully completed by the end of 2011.

The contract follows the Swedish Armed Forces' plans to modernise the SK60 training platform in order to secure its use until 2017.

In December 2008, Saab and FMV signed a contract whereby Saab, as the main supplier, was given the responsibility for handling the operation, maintenance, and readiness of all SK60 aircraft. Through this commitment, Saab ensures that the system is airworthy and is available for the Swedish Air Force Wings in accordance with the Armed Forces' requirements.

SK60 is the military designation for the Saab 105, a twin-engine jet aircraft that first flew in 1963 and that has been used by the Swedish Armed Forces since 1967 for mainly training purposes.

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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 September 21 at 12:15.

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