Saab Agrees to Sell Hawker Pacific to Lynton International Holdings Limited.

Business Editors

STOCKHOLM, Sweden--(BUSINESS WIRE)--June 19, 2001

An agreement has been reached to sell Hawker Pacific, one of Asia's leading general aviation specialists based in Singapore, Dubai and Sydney. Saab has agreed in principle to a buy-out agreement with Lynton International Holdings Limited.

Initially Saab will maintain a substantial interest and continue to be represented on the Board. Christopher Tennant, one of the controlling shareholders of Lynton International Holdings, hitherto founder and CEO of Lynton Group Inc. which was acquired by BBA Aviation last year, will become Chairman. Andrew d'Apice will remain as Managing Director.

"This is a further step in Saab's refining its activities after the procurement of Celsius. It is therefore an extremely good solution for Hawker Pacific's activities," said Bengt Halse, President and CEO of Saab.

Hawker Pacific have an enviable reputation as market leaders throughout Asia/Pacific and the Middle East. The anticipated growth in these territories, as well as the introduction of several new Raytheon, BAAC and Bell products over the next 5 years, augurs well for the investors and customers alike.

Hawker Pacific are the Raytheon/Beechcraft representatives and Master Dealers for Australia, New Zealand, Papua New Guinea and the South Pacific, Indonesia, Philippines, Brunei, Singapore, Malaysia and Thailand as well as representing both Bell and Bell/-Agusta Aerospace Company in the UAE, Bahrain, Qatar and Oman. The company is also a factory approved Dassault Service Centre in both Singapore and Sydney as well as a preferred supplier in the Asia/Pacific Region of third party maintenance for all BAE civil airliners.

Saab is one of the world's leading high-technology companies, with its main operations focusing on defence, aviation and space. The group covers a broad spectrum of competence and capability in systems integration.