Ericsson Plans New R&D Center

CHICAGO -- Today The British Midlands Development Corporation announced Swedish Telecom Giant Ericsson's decision to open a new research and development facility in British Midlands.

Ericsson will be consolidating some of its other UK sites into a 100,000 square foot facility in The Midlands. The telecom powerhouse is currently in negotiations, with plans to break ground on the new location in January 2008. Ericsson is working to meet their goal of moving staff into the new facility by the second quarter of 2009. An estimated 650 highly skilled employees will occupy the new premises, which is located on a 90-acre site called the Ansty Complex, a former Rolls- Royce plant.

"The $120 million project will be a big boost to the region's economy," said Vern Sebby, President of The British Midlands Development Corporation, "The Midlands has a strong R&D base and a highly skilled workforce, so the region was a natural choice for Ericsson's R&D operations."

"Ericsson will thrive here," continued Sebby, "We have 17 universities in the region and a strong core of highly skilled technical employees with a strong record of innovation."

Ericsson AB (Nasdaq: ERIC)