Acceptance period extended in Volvo's offer to Scania€s shareholders

ACCEPTANCE PERIOD EXTENDED IN VOLVO´S OFFER TO SCANIA´S SHAREHOLDERS In view of the fact that required regulatory approvals have not yet been received, the Board of Directors of Volvo has decided to for the time being extend the acceptance period in the offer to Scania's shareholders up to and including 29 March 2000. Settlement is expected to commence on 13 April 2000, provided that the acceptance period has not been further extended. The European Commission is currently investigating Volvo's acquisition of Scania. Volvo expects to receive a final decision from the competition authorities on 23 March 2000 at the latest. February 1, 2000 This press release may not be distributed or released publicly in the U.S., Canada, Australia and Japan. The public offer for Scania shares will not be made in these countries. Nor is the offer being made to any such persons whose participation would require additional prospectus, registration or actions other than that required by Swedish law. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/02/01/20000201BIT00180/bit0001.doc http://www.bit.se/bitonline/2000/02/01/20000201BIT00180/bit0002.pdf

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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.

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