Press Release: Saab Automobile Settles with Creditors

Trollhättan, Sweden.

On June 17, 2009, a creditors’ meeting was held by the District Court of Vänersborg where Saab Automobile made a proposal for a composition with its creditors to write down by 75% unprioritized debt that had accrued prior to the company’s reorganization. The proposal was approved by the District Court and, in accordance with the terms of the composition, payment of the composition dividend was to be made on June 17, 2010. All creditors with an undisputed claim, and who have submitted their payment details in accordance with the letters sent to them by Saab Automobile, will be paid on this date.

Jan Åke Jonsson, CEO of Saab Automobile, said: “I would like to take this opportunity to thank those loyal suppliers who have supported Saab over the past year – they have contributed significantly to the creation of an independent Saab. We aim to build on these partnerships as we roll out a new range of exciting cars starting with the new Saab 9-5 this summer.”

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