AB volvo's acquisition of Renault v.i./mack implemented today

AB VOLVO'S ACQUISITION OF RENAULT V.I./MACK IMPLEMENTED TODAY Following approval by the European Union and the Department of Justice in the United States, AB Volvo has today January 2, 2001, transferred to Renault S.A. 13,860,494 Series A Volvo shares and 30,291,594 Series B Volvo shares as partial payment for 100 percent of the shares in Renault V.I./Mack, Renault's truck business. AB Volvo acquired the transferred shares, which represents 10 percent of the share capital and voting rights in AB Volvo, through an offer to its shareholders in the spring of 2000 and through purchases in the open market. Following the transfer, AB Volvo does not own any of its own shares. After having acquired 4.9 percent of Volvo shares in the open market, Renault now holds 14.9 percent of the shares in AB Volvo. AB Volvo intends to repurchase additional company shares in order to be able to transfer to Renault S.A. the remaining five percent of AB Volvo's shares that will constitute the final payment to Renault. January 2, 2001 For further information, please call Adi Nilson, press relations AB Volvo, mobile +46-705-59 11 49. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/01/02/20010102BIT00570/bit0001.doc http://www.bit.se/bitonline/2001/01/02/20010102BIT00570/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.