Volvo receives payment for Mitsubishi

VOLVO RECEIVES PAYMENT FOR MITSUBISHI Volvo has today received USD 297 M (SEK 3,200 M) as payment for the sale of its 3.3-percent holding in, and all rights and obligations relating to, the Mitsubishi Motor Company (MMC). This was enabled by the fact that all the prerequisites and approvals for the sale of the shareholding to DaimlerChrysler have been attained. Volvo intends to use the payment now acquired to finance the development of a future medium-heavy trucks program. June 29, 2001 For further information, please contact: Fredrik Brunell, tel: +46 31 59 10 91 ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download:

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The Volvo Group is one of the world’s leading manufacturers of trucks, buses, construction equipment and marine and industrial engines. The Group also provides complete solutions for financing and service. The headquarter is located in Gothenburg, Sweden.