Ake Svensson, New CEO and President of Saab

LINKOPING, Sweden, Jan. 17, 2003 (PRIMEZONE) -- After eight years, Bengt Halse intends to take the opportunity, at the age of 60, to step down from the post of chief executive and president of Saab. He will be replaced by Ake Svensson, currently Head of business area Saab Aerospace in Linkoping. The changeover takes place on July 14, this year, following presentation of the company's interim report for the second quarter.

Ake Svensson has been head of Saab Aerospace since March 2000. He has an MSc degree in Electrical Engineering from Linkoping in 1976. After graduation he started work at Saab Dynamics.

In 1998 he took over as head of Future Products and Technology -- one of three business units in the current Saab Aerospace. After the acquisition of Celsius in March 2000, Ake Svensson became head of the entire business area of Saab Aerospace with responsibility for the development and production of the Gripen Fighter Aircraft. He has long been part of the Saab group management and is also Chairman of the IG JAS Board and Member of the Board of Gripen International. Ake Svensson was born in 1952.

After the changeover, Bengt Halse will continue to be involved in Saab activities including the position as chairman of Saab's Strategic Advisory Board.