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Volvo Trucks to Invest in Arrow Truck Sales

26 June 1998

Volvo Trucks to Invest in Arrow Truck Sales

    GREENSBORO, N.C., June 25 -- Volvo Trucks North America, Inc.
today announced that it has signed a letter of intent to purchase an ownership
interest in Arrow Truck Sales, Inc., a leading retailer of pre-owned trucks
and trailers.  Arrow Truck Sales principals, Lewis Nerman and Larry
Spitcaufsky, will retain their ownership interest and their current management
positions.  Jerome Nerman, who founded Arrow Truck Sales with Melvin
Spitcaufsky in 1950, will remain with the company.
    Volvo's investment has been approved by each company and is now subject to
due diligence and regulatory approvals.
    When finalized, the investment will give Volvo Trucks a stake in the
Kansas City, Mo. seller of pre-owned medium-and heavy-duty trucks.  Arrow has
more than doubled its locations in the last two years to better serve its
customers.  Volvo's investment will facilitate Arrow's continued growth.
Volvo's nearly 200 truck dealers in the Unites States and Canada will be given
access to Arrow's expertise, allowing them to enhance their own used-truck
operations.
    According to Marc Gustafson, President and CEO of Volvo Trucks, the
partnership with Arrow Truck Sales will facilitate Volvo's plans to strengthen
its network of truck dealers.  "The new realities of the trucking industry are
forcing truck owners to demand more than just trucks from manufacturers," says
Gustafson.  "They want transportation solutions.  The partnership will enable
Volvo Trucks and its dealers to better serve customers' needs by managing
their vehicle assets.  This new approach will create new efficiencies for
customers and new revenue opportunities for our dealers."
    According to Lewis Nerman, president of Arrow Truck Sales, this strategic
liaison will strengthen Arrow's ability to better serve its customers.
Volvo's resources will enable Arrow to maintain its leadership position
established over 48 years as the industry's leading independent purchaser and
re-marketer of used trucks.  "As the business of trucking undergoes dramatic
changes during the next several years, all suppliers will need to rethink how
they serve customers.  We are pleased to approach this changing market with
Volvo Trucks as a strong partner."
    Arrow Truck Sales, Inc. is North America's largest independent seller of
pre-owned trucks.  Headquartered in Kansas City, Mo., Arrow has 16 retail
locations in the United States and Canada.  It offers over 2,000 high-quality,
reconditioned, cleaned and detailed pre-owned medium- and heavy-duty trucks,
tractors, and trailers.
    Volvo Trucks North America, Inc. manufactures Class 8 Volvo trucks and
tractors.  The company leads the heavy-truck industry in the areas of safety
research and development, quality manufacturing processes and environmental
care.  The company also markets Volvo heavy-duty diesel engines,
transmissions, and rear suspensions.  Headquartered in Greensboro, N.C., the
company is a subsidiary of Volvo Truck Corporation, Gothenburg, Sweden.