Advance ruling concerning Volvo's public offer to Scania shareholders

ADVANCE RULING CONCERNING VOLVO'S PUBLIC OFFER TO SCANIA SHAREHOLDERS The Council for Advance Tax Rulings has issued an advance ruling concerning the public offer made by AB Volvo ("Volvo") to shareholders in Scania AB ("Scania"). Under this advance ruling, which has acquired force of law, shareholders who exchange shares in Scania for shares in Volvo are entitled to deferment on taxation of the capital gain on these shares. Deferment of these shares also applies to shareholders who decide to sell part of their Scania holding for cash. If a shareholder exchanges Series A shares in Scania for Series A shares in Volvo, or Series B shares in Scania for Series B shares in Volvo, the capital gain is to be allocated separately as a deferred payment on the Series A shares and the Series B shares received, respectively. Shareholders may choose to request deferment only for the capital gain on part of their shareholding. In this case, the capital gain concerned is to be allocated as a deferred payment on all the shares received as a result of the exchange of shares. December 6, 1999 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/12/06/19991206BIT00550/bit0001.doc http://www.bit.se/bitonline/1999/12/06/19991206BIT00550/bit0002.pdf