Scania Board statement

Scania Board statement AB Volvo announced earlier today that it has agreed to purchase Investor AB's entire shareholding in Scania. As a consequence, Volvo will make an offer to acquire the whole of the issued share capital of Scania, not already owned by it. The provisional reaction of Scania's board is that the value of the offer ap- pears fair; however, the terms of Volvo's offer will have to be reviewed in detail before a formal recommendation will be issued to shareholders. For further information contact: Scania Anders Scharp, Chairman +46 8 55 38 1000 Leif Östling, President and CEO +46 8 55 38 1000 Kaj Lindgren, Group Vice President +46 8 55 38 1000 Scania is one of the world's leading manufacturers of trucks and buses for heavy transport applications, and of industrial and marine engines. With 23,600 employees and production facilities in Europe and Latin America, Scania is one of the most profitable companies in its sector. In 1998, turnover totalled SEK 45,300 million and income after financial items SEK 3,200 million. Scania products are marketed in about 100 countries worldwide and approximately 96 percent of total production is sold outside Sweden. Scania press releases are available on the Internet, www.scania.com ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/08/06/19990806BIT00220/bit0001.doc