Volvo sells real estate companies to Sveafastigheter

Volvo Financial Services has through Danafjord AB, the Volvo Group’s real estate company, entered into an agreement with AEVS Alfa AB, a subsidiary of Sveafastigheter, regarding the sale of all shares in two wholly owned companies which own properties located in Torslanda and Kalmar, Sweden.

The two companies have real estate assets of approximately SEK 515M. The sale is expected to be completed in the first part of March and will generate a capital gain of approximately SEK 190M for Volvo Financial Services. The property in Kalmar, with buildings of 62,500 sqm, was previously used as a car assembly plant, but has been transformed into a Tech Park. The property in Torslanda consists of offices of 52,000 sqm and a multi-storey car parks of 57,000 sqm. The sold properties are not of strategic interest to Volvo and do not have Volvo Group companies as tenants. February 22, 2005 For further information, please contact Mårten Wikforss, +46 31 66 11 27 or +46 705 59 11 49