GM Intends to Exercize Its Option to Acquire Investor's 50% Share of Holdings in Saab

10 January 2000

GENERAL MOTORS INTENDS TO EXERCISE ITS OPTION TO ACQUIRE INVESTOR'S 50% SHARE OF HOLDINGS IN SAAB AUTOMOBILE AB

    STOCKHOLM, Sweden--January 10, 1999--Investor AB, Sweden's largest industrial holding company, today announced that General Motors Corp. has informed Investor AB that GM intends to exercise its option to acquire Investor's 50% share of holdings in Saab Automobile AB.

Commenting on the announcement, Investor's president and chief executive officer, Marcus Wallenberg, said:

    "We see this as a natural development, bearing in mind how positive the collaboration between Saab Automobile and GM has developed in recent years while GM had management responsibility for Saab Auto."
    "For Investor, it is important to contribute toward an industrially proper solution for Saab Automobile. We are convinced that the company would be seen in an improved future light as part of the GM Group, with its huge volumes and strong global marketing organization."
    The option agreement was signed in June 1996 in conjunction with an agreement on additional capital infusion from the two half-owners, GM and Investor. In brief, the option agreement means that GM has the right to purchase all or parts of Investor's holdings in Saab Automobile during the interim up to and including January 2000. The agreement also means, in the event that GM does not exercise its option, Investor then has the option of selling half of its holding in Saab Automobile to GM during February this year.
    Investor AB is the largest Swedish industrial holding company. It generates value for the shareholders through long-term active ownership and active investment operations. Over the past 20 years the average total annual return to the shareholders has exceeded 20%.
    Investor AB is a lead shareholder in a number of Sweden's largest, most internationally active companies. These include AstraZeneca, Ericsson, Scania, ABB, Gambro, Stora Enso, Atlas Copco, SEB, WM-data, Electrolux, Saab AB, Saab Automobile AB (50%), SKF, SAS and OM Gruppen. Investor's largest shareholders are the Wallenberg family foundations and a number of mutual and pension funds.
    Investor AB is based in Stockholm, with offices in Hong Kong, London and New York and Amsterdam. Investor AB press releases can be accessed at www.investor.se on the Internet.