The Board of Scania Rejects MAN's Offer

STOCKHOLM, Sweden--Sept. 18, 2006--MAN AG has today made a public offer for all the shares in Scania AB (STO:SCVA) (STO:SCVB).

On 13 September, 2006 the Board of Directors of Scania AB received a letter from the Chairman of the Executive Board of MAN AG, describing a possible offer on Scania. In all material aspects, the public offer is in line with the contents of the above letter.

At a Board meeting held on 17 September, 2006 the Board of Directors carefully studied the contents of the letter and have, after having engaged professional advisors to assist in its review and assessment of the proposal, unanimously decided not to support the proposals outlined therein. On Sunday 17 September, the Board of Scania promptly informed MAN AG of its decision.

Scania is one of the world's leading manufacturers of trucks and buses for heavy transport applications, and of industrial and marine engines. A growing proportion of the company's operations consists of products and services in the financial and service sectors, assuring Scania customers of cost-effective transport solutions and maximum uptime. Employing 30,000 people, Scania operates in about 100 countries. Research and development activities are concentrated in Sweden, while production plants are located in Europe and South America, with facilities for the global exchange of both components and finished vehicles. In 2005, revenue totalled SEK 63.3 billion and net income amounted to SEK 4.7 billion.

Scania's press releases are available on the Internet at www.scania.com.

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