Dutch State to Withdraw from Nedcar

DUTCH STATE TO WITHDRAW FROM NEDCAR Today the Dutch State has exercised its option to sell its shares in NedCar to Mitsubishi Motors Corporation and Volvo Car Corporation. Not later than 15 February 1999 the shareholders' structure of NedCar will be changed into a fifty-fifty ratio in favour of the industrial shareholders Mitsubishi Motors Corporation and Volvo Car Corporation. The Dutch State will withdraw as third party from the joint venture with effect from this date. This decision is in conformity with the joint venture agreement which was concluded between the parties in December 1991. At that time it was decided that each of the parties would acquire a stake of 33 1/3% in the new company and that before the end of 1998 the Dutch State would announce a possible withdrawal as a shareholder. In accordance with the original agreement the transaction involves a total of NLG 220 M, of which Mitsubishi Motors and Volvo Car Corporation will each pay NLG 110 M. December 14, 1999 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1998/12/14/19981214BIT00230/bit0001.doc http://www.bit.se/bitonline/1998/12/14/19981214BIT00230/bit0002.pdf