Autoliv Completes Tender Offer for Shares of OEA

    STOCKHOLM, Sweden--May 2, 2000--Autoliv, Inc. (SSE: ALIV) - the worldwide leader in automotive safety systems - announced today successful completion of the tender offer by OEA Merger Corporation, an indirect wholly owned subsidiary of Autoliv, Inc. for all outstanding shares of common stock of OEA, Inc. for $10.00 per share, net to the seller in cash. The tender offer expired at midnight, New York City time, on Monday, May 1, 2000. OEA Merger Corporation has accepted for purchase all shares validly tendered and not withdrawn prior to the expiration of the offer. Based on information provided by First Chicago Trust Company of New York, as Depositary, 19,507,906 shares of OEA, Inc. have been acquired by OEA Merger Corporation (including 95,632 shares subject to guarantees of delivery), representing approximately 95% of all outstanding shares.
    Payment for shares properly tendered and accepted will be made as promptly as practicable and, in the case of shares tendered by guaranteed delivery procedures, promptly after timely delivery of shares and required documentation.
    As previously announced, Autoliv, Inc. will acquire the remaining OEA, Inc. shares in a merger in which each share of OEA, Inc. common stock will be converted into the right to receive $10.00 in cash, subject to appraisal rights, and following which OEA, Inc. will become an indirect wholly owned subsidiary of Autoliv, Inc. Autoliv, Inc. and OEA, Inc. expect to consummate the merger as soon as practicable.

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