All conditions for the implementation of Volvo's offer to the shareholders of Kommersiella Fordon Europa AB have been me

All conditions for the implementation of Volvo's offer to the shareholders of kommersiella fordon europa ab have been met · Bilia's decision on distribution of shares in Kommersiella Fordon Europa AB has been effected · All conditions for the implementation of Volvo's offer to the shareholders of Kommersiella Fordon Europa AB have been met · Volvo has established that all conditions for the offer have been met since the shares in KFAB have been registered in the VP-accounts of the shareholders of Bilia. Thus, settlement by payment in the form of shares in Bilia will commence on 14 July, 2003. As previously announced, the acceptance period is extended through August 8, 2003 for those shareholders who have not yet tendered their shares. Settlement for shareholders who submit their shares during the extended acceptance period is expected to be August 15, 2003. July 11, 2003 For further information, please contact Mårten Wikforss +46-31-66 11 27 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/07/11/20030710BIT00550/wkr0001.doc http://www.waymaker.net/bitonline/2003/07/11/20030710BIT00550/wkr0002.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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