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Conversion of subscription price into DKK and NOK – for subscription without subscription rights

May 5, 2010 17:30

According to the final results of SAS AB’s (“SAS”) rights issue, 99.7 percent of the offered shares were subscribed for with subscription rights. In addition, 3,728,907,697 shares were subscribed for without subscription rights, corresponding to 50.4 percent of the offered shares. Of the shares subscribed for without subscription rights, 24,598,563 shares have been allocated to subscribers based on the principles described in the prospectus published on 9 April 2010.

Those who have subscribed for new shares without subscription rights in Denmark or Norway, and who have been allocated shares will pay an amount in DKK or NOK respectively corresponding to the subscription price of SEK 0.67 per share.

The currency conversion rates for subscription without subscription rights have been determined and resulted in an amount of DKK 0.519877 per share to be paid in Denmark, and in an amount of NOK 0.54599 per share to be paid in Norway. The conversion rates are based on ECB’s fixing exchange rates at 2:15 CET on 5 May 2010, adjusted as described in the prospectus.For further information, please contact
Sture Stølen, Head of SAS Group Investor Relations, +46 70 997 14 51
SAS Group Investor RelationsSAS discloses this information pursuant to the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. The information was provided for publication on 5 May 2010, at 5:30 p.m. CET.

This document is not being distributed to persons in any state or jurisdiction where the offer or sale of the rights or shares is not permitted.

These materials are not an offer for sale of securities in the United States. Securities may not be sold in the United States absent registration with the United States Securities and Exchange Commission or an exemption from registration under the U.S. Securities Act of 1933, as amended. The issuer of the securities does not intend to register any part of the offering in the United States or to conduct a public offering of the Rights or the Shares in the United States.

This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons in (i), (ii) and (iii) above together being referred to as “relevant persons”). The Rights and the Shares are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

This document is an advertisement and is not a prospectus for the purposes of Directive 2003/71/EC (such Directive, together with any applicable implementing measures in the relevant home Member State under such Directive, the “Prospectus Directive”). A prospectus prepared pursuant to the Prospectus Directive will be published, which, when published, can be obtained from the SAS Group. Investors should not subscribe for any securities referred to in this document except on the basis of information contained in the prospectus.

In any EEA Member State that has implemented the Prospective Directive, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive.

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