Gripen Industrial cooperation creates a positive effect in Hungary

The Hungarian Ministry of Economy and Transport approved Gripen International´s offset claim over 1056 MSEK (approx. 112 million EUR)

Gripen International welcomes the approval of this latest offset claim in Hungary by the Hungarian Ministry of Economy and Transport. At the end of the second quarter 2006, Gripen´s approved offset claim has now registered 6199 MSEK (659 MEUR). Of this amount, the export value equates to 4636 MSEK (493 MEUR) and the investments value to 1563MSEK (166MEUR). The status of the program equals to 84% of the total offset obligation performed by Gripen International in Hungary.

The lease of Gripen, the new generation multi-role fighter, has through the offset program contributed to major positive economic effects to the economy in Hungary and has brought employment opportunities through industrial partnerships and export promotion.
says Kaj Rosander, Gripen International´s new Programme Director for Hungary.

The latest claim includes export operations of Electrolux and Dometic production facilities seated in Hungary and the purchase of metal products from Hungary by a new Swedish industrial offset partner, Camfil AB.

Notes to editors:
Hungarian background: Ever since the early 1990s, when Saab AB (and later Gripen International) began promoting Gripen to the Government of Hungary, offset and industrial co-operation have been important items on the agenda. When the first contract between Hungary (MoD) and Sweden (FMV) was signed in 2001, covering the lease of 14 Gripen aircraft, an associated Offset Agreement was concluded between Gripen International and the Government of Hungary, under which Gripen International assumed a commitment to undertake certain activities to offset the aircraft contract. Through the offset program, Gripen International is dedicated to stimulating employment and economic growth, generating investments, export growth and building sustainable business in Hungary.

Gripen is the first of the new generation, multi-role combat aircraft to enter service. Using the latest available technology it is capable of performing an extensive range of air-to-air and air-to-surface operational missions and employing the latest weapons. Gripen is designed to meet the demands of current and future threats, while at the same time meeting strict requirements for flight safety, reliability, training efficiency and low operating costs. Gripen is in service with the Swedish ,Czech Republic and Hungarian Air Forces and has also been ordered by the South African. The UK Empire Test Pilots´ School (ETPS) is operating Gripen as its advanced fast jet platform for test pilots worldwide.

Gripen International is the Swedish company which acts as a prime contracting organization, responsible for marketing, selling and supporting the Gripen fighter worldwide. Gripen International combines the strength of its international industrial partners, which are among the world's most experienced and respected manufacturers of aerospace and defense equipment.
www.gripen.com

For further information please contact:
Anne Lewis-Olsson, Communications Director Hungary, Gripen International
Mobile: +46 734 1813 55
anne.olsson@gripen.com

Virág Vinczeffy, Group Account Director Mmd Public Relations Hungary
Tel: (+36 1) 266 7833
virag.vinczeffy@mmdcee.com