Another step taken toward takeover of Norsk Jetmotor AS

ANOTHER STEP TAKEN TOWARD TAKEOVER OF NORSK JETMOTOR AS Volvo Aero and the two main owners of Norsk Jetmotor AS have now signed a purchase agreement whereby Volvo Aero acquires 66.6 percent of the shares in the company. However, the approval of the Norwegian Ministry of Industry and Trade, which is expected during December, is required before Volvo Aero can take over Norsk Jetmotor. December 2, 1998 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1998/12/02/19981202BIT00090/bit0001.doc http://www.bit.se/bitonline/1998/12/02/19981202BIT00090/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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