Volkswagen Rejects MAN Offer for Scania - VIDEO ENHANCED NEWS

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WOLFSBURG, Germany and NEW YORK - September 18, 2006: Volkswagen Aktiengesellschaft has always stated that its investment in Scania is of a strategic nature and is in the industrial interests of the Group. Acceptance of today's takeover offer for Scania announced by MAN would not be in line with these industrial interests. For this reason, the Volkswagen Group rejects the offer and is not selling its shares in Scania.

Volkswagen holds 18.7% of the equity and 34.0 % of the voting rights in Scania.

BLOOM (BLOOM), National Mon 18 Sep 2006 08:11 AM EDT