Volvo Penta receives major order from Scandinavian boat bilder

VOLVO PENTA RECEIVES MAJOR ORDER FROM SCANDINAVIAN BOAT BUILDER Volvo Penta has received a major order valued at approximately SEK 120 M from the NNW Group, which consists of the Swedish boatbuilder Nimbus, and the Norwegian companies Nidelv and Windy Boats. The two-year contract comprises the delivery of approximately 1,400 engines. The contract is the first of its kind, with Volvo Penta entering into a long- term cooperation agreement and delivery programme with a group that produces leisure boats in Scandinavia. The period of contract is 2000-2001 and Volvo Penta will supply approximately 700 engines during the first year. Volvo Penta is to be exclusive supplier of engines with Aquamatic and Duoprop drive, at the same time as the company's market share for conventional inboard motors is increasing. The contract also includes Volvo Penta's certification - Certified Installation - of the engines' installation in the boats. The benefits of Certified Installation include the customer receiving a safe engine and component installation, availability of service and the adaptation of engine and drive system to the boat's design. Nimbus Boats, Nidelv and Windy are well-known boat manufacturers with a strong market position and a high proportion of exports. June 21, 1999 For further information, please contact: Bengt Kjellberg, Vice President, Corporate Communication & Business Intelligence, AB Volvo Penta. Tel: +46-31-66 83 11, Mobile phone: +46-708-66 83 13. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/06/21/19990621BIT00110/bit0001.doc http://www.bit.se/bitonline/1999/06/21/19990621BIT00110/bit0002.pdf