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Issue of convertible debentures to Saab employees in Sweden

Issue of convertible debentures to Saab employees in Sweden The Board of Saab AB has decided to propose that the employees within the Saab Group in Sweden shall be offered to subscribe for convertible debentures in Saab AB. The convertible debenture loan is proposed to amount to a maximum of 2.8 million shares in Saab AB. At the current share price this corresponds to a total nominal amount of approximately SEK 260 million. The term of the loan will be between December 4, 1998 and July 30, 2004 with an annual interest rate equal to STIBOR, less approximately 0.45 per cent, currently approximately equal to 3.90 per cent. Conversion can be effected to series B shares. The conversion price shall correspond to approximately 130 per cent of the average price of the series B shares in Saab AB during a certain period before the Extraordinary General Meeting. The application period is proposed to run between October 5 and October 16, 1998. At full subscription and full conversion, the number of shares will increase by 2.8 million, which will give a dilution of a maximum of 2.6 per cent of the number of shares and a maximum of 1.7 per cent of the number of votes. An Extraordinary General Meeting in order to consider the Board's proposal will be held on September 30, 1998 at Saab AB in Linköping. The Board's proposal will be available from September 23, 1998 at Saab AB's Head Office in Linköping. This Press Release must not be distributed into or in the United States. For further information, please contact : Lars Jagerfelt, Vice President Corporate Communications Saab AB, tel +46 13 187165 or Anders Annerfalk, Director of Information Saab Aircraft, tel +46 13 182022 Göran Wedholm, Controller Saab AB, tel +46 13 187121