Volvo CE China strengthens long term commitment through land purchase

Volvo CE China strengthens long term commitment through land purchase China, 20 August 2004 - Volvo Construction Equipment (China) Co., Ltd. (Volvo CE China), is meeting its expansion needs by increasing current factory area. Volvo Constructin Equipment (China) Co., Ltd. has signed a Contract for the Transfer of Land Use Rights with Shanghai Jinqiao Export Processing Zone in the second phrase of land transfer held at New Jinqiao Building, 20 August 2004. The first phase land transfer was signed on March 2003, less than two and a half years ago. This Signing Ceremony will take effect for the transfer of 60,000sqm land space, doubling the existing land area of Volvo CE China Jinqiao factory, located in Shanghai Pudong Jinqiao. This acquistion comes after recognizing Volvo CE China long-term plan expansion needs and also futher shows Volvo's committement to the China market. Attending the second Phrase Land Use Rights Signing Ceremony is Mr Keith Ellis- President of Volvo Construction Equipment Asia Markets, Mr Dirk Von Wahl- President of Volvo Construction Equipment (China) Co, Ltd, Mr Huang Weifeng - Deputy General Manager of Jinqiao Group and Ms Bian Qinli-Deputy General Manager of Jinqiao Export Processing Zone Development Co Ltd. Said Mr Ellis, President of Volvo CE Asia Markets."We believe that Volvo CE China with its business model in the construction industry will prosper in China as the country realizes it's enormous growth potential". August 20, 2004 For further information, please contact: Crystella Lim Tel: int + 65 6412 2857 Fax: int + 65 6861 01 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/08/20/20040820BIT20080/wkr0001.pdf

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