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Preliminary results: SAS rights issue oversubscribed

Preliminary results of SAS AB's ("SAS") rights issue, for which the subscription period ended 29 April 2010, indicate that approximately 98.2 percent of the offered shares were subscribed for with subscription rights and approximately 39.8 percent were subscribed for without subscription rights. As a result the rights issue is oversubscribed by approximately 38.0 percent. The final results of the rights issue will be published on or around 5 May 2010, and subscribers who have been allocated shares subscribed for without subscription rights will be notified shortly thereafter.

Through the rights issue SAS will receive proceeds amounting to approximately SEK 5 billion before transaction costs.

"In these very challenging times for the airline industry we are grateful for the continued support from current shareholders and the interest from new investors. The rights issue will strengthen our financial and strategic flexibility and secure the implementation of the remaining parts of Core SAS. With Core SAS we have a stable foundation to build on and we are confident that SAS is well positioned for a future market recovery", says Mats Jansson, President and CEO of SAS Group.

Those who have subscribed for new shares without subscription rights will be allocated shares as described in the prospectus published on 9 April 2010.

The final day for trading in the BTA 1 is expected to be on or around 6 May 2010. Trading in the new shares subscribed for with subscription rights on NASDAQ OMX Stockholm, NASDAQ OMX Copenhagen and Oslo Børs is expected to commence on or around 7 May 2010.

J.P. Morgan, Nordea and SEB Enskilda, are acting as Joint Global Coordinators, Joint Lead Managers and Joint Bookrunners, DnB NOR Markets and The Royal Bank of Scotland, are acting as Joint Lead Managers and Joint Bookrunners, and Danske Markets, is acting as Co-Lead Manager for the rights issue.

For further information, please contact
Sture Stølen, Head of SAS Group Investor Relations, +46 70 997 14 51
SAS Group Investor Relations