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04 Jul 05. Provisions regarding the Helicopter program. On 31 January 2002, Saab signed the contract with NH Industries (NHI) regarding delivery of systems to the 18 helicopters that FMV ordered from NHI. The delivery primarily applies to a so-called Tactical Mission System (TMS) – a command and control system that makes up a part of the helicopter’s electronics. The value of the contract amounts to SEK 2 billion. During the second quarter, a thorough internal auditing of the program has been performed. We can state that development of the system is greatly delayed leading to unavoidable additional costs compared with the original cost estimate. We feel that a provision is necessary already in the second quarter interim financial statement, which means that the income for 2005 will be charged with SEK 250 million. These estimated additional costs were not taken into consideration in the profit forecast provided in the interim report published 21 April 2005.

30 Jun 05. Doughty Hanson & Co is to return €133 million to investors in Doughty Hanson & Co IV, following the pricing of shares in the initial public offering of Saft announced today. A further amount may be returned in the event the 15% over-allotment option is exercised. Highlights: investors in Doughty Hanson & Co IV will have received €308m from Saft in total, representing around 2.6 times their equity investment. Doughty Hanson returned €175 million to investors following a recapitalisation of Saft in February 2005. The gross IRR to date on the Saft investment is 122%; over 18% of Fund IV commitments have now been returned to investors on the Saft transaction alone; following the IPO, Doughty Hanson has retained a 42.5% shareholding in Saft (before exercise of the over-allotment option). Including this shareholding, the implied total return on Doughty Hanson’s equity investment in Saft is 4.25 times; Doughty Hanson acquired Saft for a total capitalisation of €410m in January 2004, in what was the firm’s first private equity portfolio investment in France. The acquisition was financed through equity investment of €120m and €290m of debt; based on the offer price of €26 , the market capitalisation of Saft at the commencement of conditional dealings on the Eurolist by Euronext today will be €485.3m; Saft was Doughty Hanson’s first investment from Fund IV, which was capped at €1.6bn in January 2005. Existing investors asked for the Fund to be capped, given the strong performance of portfolio companies in the Fund. Doughty Hanson has made four acquisitions from Fund IV to date, investing a total of €425m of equity.

01 Jul 05. French telecoms equipment group Alcatel and Italian aerospace group Finmeccanica are finalizing an alliance in space activities today, after the operation was authorized by Brussels two months ago. The two groups are to create two new joint-ventures: Alcatel Alenia Space, 67 per cent controlled by Alcatel and 33 per cent held by Finmeccanica, which will be based in France and which will specialize in satellite systems; and Telespazio, 67 per cent controlled by the Italian group and 33 per cent controlled by Alcatel, which will be based in Italy and will specialize in space services. Alcatel Alenia Space will have responsibility for nearly 40 per cent of the construction phase of the Galileo satellite navigation project. (Source: FT)

Jul 05. Ericsson acquires the Swedish systems integration company Teleca OSS. Ericsson has today announced the acquisition of the Swedish company Teleca OSS, with around 40 employees, specialized in systems integration in the area of telecom management. Ericsson’s systems integration offering supports network operators in creating, managing and evolving new consumer service offerings. It is a strategic area in the Ericsson Global Services portfolio and the acquisition of the Swedish company Teleca OSS reinforces Ericsson’s focus on growing its services business.

30 Jun 05. Avon Rubber p.l.c. is delighted to

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