Acceptance period extended for Volvo's offer to Scania's shareholders

ACCEPTANCE PERIOD EXTENDED IN VOLVO´S OFFER TO SCANIA´S SHAREHOLDERS On October 25, 1999, The European Commission decided that an extended examination of Volvo´s acquisition of Scania would be required. A final decision from the European Commission will be received in mid-March, 2000 at the latest. Based on the decision from the European Commission, 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 December 8, 1999. Settlement is expected to commence on December 22, 1999, provided that the acceptance period will not be further extended. Volvo's public offer to Scania's shareholders is not being made, directly or indirectly, in or into, and it will not be permitted to be accepted in or from the United States. Accordingly, no offer is being made for Scania's American Depositary Receipts. October 28, 1999 Not for distribution in U.S., Australia, Canada or Japan ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/10/28/19991028BIT00240/bit0001.doc http://www.bit.se/bitonline/1999/10/28/19991028BIT00240/bit0002.pdf