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Sale of Volvo Car Division to Ford Approved by Volvo Shareholders

9 March 1999

Sale of Volvo Car Division to Ford Approved by Volvo Group Shareholders

    DEARBORN, Mich., March 8 -- Shareholders of AB Volvo
have approved the sale of Volvo Car Holding Corp. to Ford
Motor Company .  The results of shareholder voting were announced at
an extraordinary general meeting of Volvo shareholders held today in
Gothenburg, Sweden.
    "We are very pleased that Volvo shareholders have entrusted Ford Motor
Company with the future development and growth of Volvo Cars," said Ford chief
executive officer Jacques A. Nasser.  "We are excited to welcome the premium
Volvo brand to the Ford family of brands."
    Ford and AB Volvo announced on January 28 that an agreement in principle
had been reached for Ford to buy Volvo Cars.  The transaction will close
following receipt of regulatory approvals.