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Volvo Cars Alliance with Liberty Mutual Group

13 April 1998

Volvo Cars of North America Announces Alliance with Liberty Mutual Group

    ROCKLEIGH, N.J., April 13 -- When you think of safety and
driving, what companies come to mind?  Both Volvo and Liberty Mutual have won
awards for their contributions to automotive safety, and both operate safety
research centers to continue to ensure the security of their customers.
    With this shared focus, Volvo and Liberty Mutual have formed an alliance
to provide the more than 1.4 million Volvo owners in all 50 states -- among
the safest drivers and well-protected vehicle occupants on the road -- with
outstanding coverage for auto, home and other personal insurance at discounted
group rates.  Volvo and Liberty Mutual are introducing this offer in phases,
with the initial kickoff in April 1998.  Liberty already insures more than
26,000 Volvos and these policyholders will be immediately eligible for this
new program, Volvo Value Insurance.
    According to Mark LaNeve, Marketing Vice President for Volvo Cars of North
America, "We expect this new alliance will provide benefits to current Volvo
owners and prospective purchasers.  By partnering with Liberty Mutual, we are
able to offer our owners an exceptional opportunity which will enhance their
Volvo ownership experience."
    One unique element of the alliance is a commitment by Liberty Mutual to
use Genuine Volvo Parts exclusively at no additional charge in all covered
body repair work.  Volvo owners benefit from the security of knowing that
their Volvo will be repaired using new Genuine Volvo Parts.
    "Our analysis of Volvo loss data makes Volvo customers an attractive group
for us to work with," said Joseph Aniello, Vice President, Marketing Sales.
"Liberty Mutual is excited about partnering with Volvo, with whom we share the
mission of making driving safer and more secure for everyone."
    Volvo Value Insurance offers convenient premium payments through automated
checking account deductions or direct billing at home.  Liberty has also
established a special toll-free number for participants in this program to
call for a comparison quote and to secure coverage.  Once insured by Liberty,
the Volvo owners will have access to Liberty's 24 hour claims reporting
network.  Other benefits include annual policies at guaranteed rates and
emergency roadside assistance where applicable.
    Liberty Mutual is the 8th largest property and casualty insurer in the
United States, insuring nearly three million people in North America.  Liberty
Mutual Group is a diversified financial services company with more than
$40 billion in consolidated assets and $50 billion in assets under management.
With $8.7 billion in consolidated revenue, it ranks 126th among Fortune 500
companies.  Liberty Mutual is one of the largest multi-line insurers in the
property and casualty field and has been the leading provider of workers
compensation insurance, programs and services in the United States for more
than 60 years.  The company employs 23,000 people in more than 500 offices
throughout the world.
    Volvo Cars of North America, Inc. (VCNA), is the sole authorized North
American importer and wholesaler of new Volvo automobiles, parts, and
accessories.  The company and its subsidiaries is wholly-owned by Volvo Car
Corporation which is based in Gothenburg, Sweden.  VCNA is headquartered in
Rockleigh, New Jersey,
SOURCE  Volvo Cars of North America, Inc.