Sale of Volvo Cars concluded

SALE OF VOLVO CARS CONCLUDED AB Volvo today concluded the sale of Volvo Cars to Ford Motor Company. As a result, AB Volvo's shares in Volvo Car Corporation were transferred today to the Ford Motor Company. However, as announced previously, the transfer of Volvo Cars is as of January 1, 1999 which means that Ford Motor Company will be entitled to Volvo Cars´ income as from that date. Accordingly, AB Volvo today received the first installment of the payment for Volvo Cars from Ford Motor Company of SEK 10,169 M and USD 700 M. The balance of the purchase amount , USD 1,613 M, will be paid two years after the transfer date. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/03/31/19990331BIT00050/bit0001.doc http://www.bit.se/bitonline/1999/03/31/19990331BIT00050/bit0002.pdf