Volvo Aero Services signs agreement with Air Pacific and The Boeing Company.

Volvo Aero Services signs agreement with Air Pacific and The Boeing Company. Air Pacific Ltd, The Boeing Company and Volvo Aero Services have executed a five-year agreement, to provide a "Total Solution" for B737 NG Spares Support. This agreement provides Air Pacific with US$8m of Leased Spares Inventory and Support from the Boeing Component Exchange Program (C.E.P.), Inventory Logisitics and Program Management Services. This is a launch program into which additional inventory and asset management programs will be incorporated to meet the needs of other airlines. "This agreement demonstrates our commitment to establish a platform from which airlines such as Air Pacific can obtain a "Total Solution" to meet their fleet support requirements in an integrated and efficient manner, " says Claes Malmros, President of Volvo Aero Services. Air Pacific, based in Fiji, has 731 employees and operates three Beoing 737NG, two B747-400 and one B767-300ER aircraft to thirteen destinations. 2002/3 revenue was USD228M. The principal shareholders of Air Pacific are the Fiji government (51%) and Qantas Airways, Australia (46.3%). Volvo Aero Services LP is the aviation service provider within Volvo Aero. Additional information on the company is available on the Internet at www.volvoaero.com. March 22, 2004 For further information, please contact: Claes Malmros, President Volvo Aero Services, phone: +1 561 998 8330, or Kevin P.Hartney, Executive Vice President, Volvo Aero Services, phone: +1 561 998 9334 or Jim Samson, General Manager Engineering, Air Pacific, phone +679 720797. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/03/22/20040322BIT00240/wkr0001.doc http://www.waymaker.net/bitonline/2004/03/22/20040322BIT00240/wkr0002.pdf