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Technology Stocks : Ericsson overlook?
ERIC 9.855-1.5%3:59 PM EST

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To: P2V who wrote (2427)12/15/1998 10:25:00 AM
From: P2V  Read Replies (1) of 5390
 
Ericsson Microwave Systems AB,
Ericsson selected by Greece to supply AEW&C

The Government of Greece today announced the selection of Ericsson as supplier
of the ERIEYE AEW&C system to the Hellenic Air Force. The bid comprises four
systems integrated on EMB 145 jet aircraft. All systems are fully NATO-
interoperable and deliveries will start three years after contract. The final
contract is valued more than USD 500 million (SEK 4 billion).

This is the first export success for the European industrial cooperation
between Ericsson and Thomson-CSF which was announced in March 1998 and
together with Embraer of Brazil the companies form the winning industrial
consortium. It is also a major milestone for the ERIEYE AEW&C system, the
world's most modern and highly available AEW&C system in operational service.

It is now in service in the Swedish Air Force, in series production for Brazil
and currently under consideration by a number of countries in Europe, South
America and Asia Pacific.

The president of Ericsson Microwave Systems, Jan-Åke Kark, said in a statement
today:

"This is one of the single largest contracts ever for Ericsson and we are
confident that we will come to an agreement soon after detailed contract
negotiations starts. It is also a major break through for ERIEYE within NATO
and the selection of ERIEYE is a selection of Information Superiority through
modern technology which indicates a new way of looking at AEW&C."

"It is clear that the Swedish Government and Swedish authorities have had a
significant role in supporting this business to come through, each part acting
in their own role," says Jan-Åke Kark.

The selection of ERIEYE is done in great competition and it reconfirms that
customers are moving towards this new generation AEW&C system.

"This is the second export success on ERIEYE within two years time besides
the contract to the Swedish Air Force, and it reflects not only the
competitiveness of the ERIEYE concept but also an independent and far-seeing
customer," says Jan-Åke Kark.

"The selection of ERIEYE is the start of a long relationship and industrial
obligations. Together with the Greek Government we will now develop our
intention on industrial co-operation and transfer of technology building on
software development not only for the ERIEYE system but also for the telecom
area," ends Mr Kark.

Ericsson is the leading provider in the new telecoms world, with
communications solutions that combine telecom and datacom technologies with
freedom of mobility for the user. With more than 100,000 employees in 140
countries, Ericsson simplifies communications for its customers - network
operators, service providers, enterprises and consumers - the world over.

Please visit Ericsson's Press Room at: ericsson.se

FOR FURTHER INFORMATION, PLEASE CONTACT

Lennart Joelsson, General Manager, AEW Systems Division

Ericsson Microwave Systems AB
Phone +46 31 747 3334

Göran Hedborg, Marketing Director, AEW Systems Division
Ericsson Microwave Systems AB

Phone +30 941 46306 or +301 960 1441

Henrik Brehmer, Director of Information
Ericsson Microwave Systems AB
Phone +46 31 747 6537 or +46 70 547 1956

Anastácio Katsanos, Senior Manager,

Embraer

Phone +55 12 345 1070

Emmanuel Grave, General Manager, Airborne Radars Unit

Thomson-CSF
Phone +33 01 34 59 53 40

For images and press kit, please contact: Ericsson Microwave Systems AB,
Information Department. Fax +46 31 277891 or email:

Annette.Richthoff@emw.ericsson.se.

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