Saab Automobile and BMW Enter Agreement for Supply of Gasoline Engines

TROLLHATTAN, Sweden Sept. 29, 2010; Today, Saab Automobile and BMW announced an agreement for the supply of engines to be used in next-generation Saab vehicles. Under the purchase, supply and development agreement, BMW will supply Saab with 4-cylinder 1.6 liter turbocharged gasoline engines from 2012. The engines will be adapted to meet Saab's specific requirements.

The contract was signed on Wednesday in Trollhattan, Sweden. Participating in the signing were Saab Automobile CEO Jan Ake Jonsson, Saab Automobile Chairman Victor Muller and Ian Robertson, Member of the Board of Management of BMW AG, responsible for Sales and Marketing.

Announcing the deal, Saab Automobile CEO Jan Ake Jonsson said: "It gives me great pleasure to confirm this exciting new relationship. BMW's engines and their fuel savings innovations are widely regarded as a benchmark in the premium segment. We look forward to integrating this technology into our next-generation vehicles in a true Saab way."

Victor Muller, Chairman of Saab Automobile, said: "This is a major step for Saab on our road to becoming a profitable independent premium car maker. In line with our strategy, we will continue to capitalize on our own engineering expertise while also working with the very best partners. Both parties are open to explore further opportunities as part of this relationship in the future."

Ian Robertson, Executive Sales and Marketing Director of BMW, added: "We are continuing to expand our powertrain system sales business worldwide as planned as part of our Strategy Number ONE. Today's agreement marks another important milestone along this route. We are delighted to support Saab with our engine expertise. Our engines have a clear lead over the competition when it comes to fuel consumption, emissions and performance."

Note to Editors:

Saab, or Svenska Aeroplan Aktiebolaget

(Swedish Aircraft Company), was founded in 1937 as an aircraft manufacturer and revealed its first prototype passenger car 10 years later after the formation of the Saab Car Division. In 1990, Saab Automobile AB was created as a separate company, jointly owned by the Saab Scania Group and General Motors, and became a wholly-owned GM subsidiary in 2000. In February 2010, Spyker Cars N.V. of the Netherlands, acquired the company from GM as an independently-run business.

Saab cars reflect the brand's unique Scandinavian design ethic, which is fused with its aircraft engineering heritage. The company is a global premium car maker with a distinguished history of innovation. It is recognized for its pioneering role in turbocharging, as well as occupant safety and the introduction of flex-fuel technology through Saab BioPower. Saab Automobile AB currently employs approximately 3,800 staff in Sweden, where it operates world-class production and technical development facilities at its headquarters in Trollhattan, 70 km north of Gothenburg.