Volvia divests insurance operations

VOLVIA DIVESTS INSURANCE OPERATIONS Volvia today reached an agreement covering the divestment of its insurance operations. The buyer is the If insurance company, with which Volvia currently has close cooperation. The purchase price for the operations amounts to SEK 562 M. "With the Volvo Group's focus on commercial vehicles, it is a natural step to divest Volvia, which is predominantly a car-related operation. As a result of today's transaction, the company gains a natural home and we are convinced it will develop favorably in this environment," says Stefan Johnsson, CFO of the Volvo Group. February 8, 2000 For further information, please contact Adi Nilson, phone +46-31-59 11 27 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/02/08/20010208BIT00720/bit0001.doc http://www.bit.se/bitonline/2001/02/08/20010208BIT00720/bit0002.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.