What is a SAR value?

To communicate with the network, mobile phones emit low levels of radio waves (also known as radiofrequency or 'RF' energy) when being used. Governments around the world have adopted comprehensive international safety guidelines, developed by independent scientific organizations, governing the exposure to RF energy. Mobile phones are designed to operate within these stringent limits.
SAR stands for Specific Absorption Rate, which is the unit of measurement for the amount of RF energy absorbed by the body when using a mobile phone. The SAR is determined at the highest certified power level in laboratory conditions. However, the actual SAR level of the phone while operating can be well below this value. This is because the phone is designed to use the minimum power required to reach the network. Therefore, the closer you are to a base station, the more likely it is that the actual SAR level will be lower.
Every mobile phone model is tested for radio wave emissions. A measurement is made using an internationally agreed method that meets government and regulatory standards. This gives the SAR value, which must be below an agreed level. Only mobile phones that pass this test are allowed to go on sale. Variations in SAR do not mean that there are variations in safety. While there may be differences in SAR levels among phone models, all mobile phones must meet RF exposure guidelines.

* United States: the FCC requires that phones sold have a SAR level at or below 1.6 watts per kilogram (W/kg) taken over a volume of 1 gram of tissue.
* European Union: the SAR limit is 2 W/kg, averaged over ten grams of tissue.

For whole body exposure there is a limit of 0,08 Watt/kg averaged over the whole body

More:
SAR -Specific absorption rate
Mobile phone radiation and health
Electromagnetic radiation and health
SAR Standards and the Basic Requirements for SAR Assessment

Motorola mobile phones SAR Values

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You can find latest SAR values about Sony Ericsson phones from this link.

NOKIA SAR Values

You can check Nokia SAR Values from SAR specific site.

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CNET article and comprehensive listings about SAR levels