Volvo Receives Engine Approval from U.S. EPA

GOTEBORG, Sweden, Sept. 30, 2002 (PRIMEZONE) -- Volvo Trucks North America, Inc. today announced the U.S. Environmental Protection Agency has given permission for Volvo to manufacture and sell trucks with Volvo's EPA02-compliant VED12 diesel engine after October 1, 2002.

``We believe this engine meets all applicable emissions requirements of the Clean Air Act, EPA's regulations and the terms of your consent decree,'' the agency said in a letter to Volvo. The agency issued Volvo a conditional certificate, with final certification expected once EPA completes its formal review process.

``Our testing has shown that when paired with the new Volvo VN highway tractor, Volvo's VED12 engine will not only meet the new emissions requirements, but also deliver industry-leading fuel economy and performance,'' said Susan Alt, vice president - marketing. ``Care for the environment is a Volvo core value, and we are right on schedule to satisfy the strong demand for our new EPA02-compliant VN model.''

The new Volvo VN series of Class 8 trucks introduced in August are the industry's only trucks designed to be fully integrated with EPA02-compliant engines. Operators of the new VN should experience only a 0-2% decrease in fuel economy with the new engines.