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Ford Completes Acquisition of Volvo Cars

31 March 1999

Ford Completes Acquisition of Volvo Cars

    GOTEBORG, Sweden, March 31 -- Ford Motor Company
and AB Volvo today completed the sale of Volvo Cars to Ford.  Volvo Cars is
now part of Ford's Premier Automotive Group, which also includes Aston Martin,
Jaguar and Lincoln.
    "The Premier Automotive Group, under the umbrella of Ford Motor Company,
will allow us to leverage the unique strengths of these four legendary brands,
while preserving their individual values and characteristics," said Jacques A.
Nasser, Ford president and chief executive officer.  "Our objective is to grow
these premium brands while setting new standards for the care and service for
our customers."
    Ford and AB Volvo announced on January 28, 1999 that an agreement in
principle had been reached for Ford to buy Volvo Cars for $6.45 billion.
Shareholders of AB Volvo approved the sale on March 8.  Final regulatory
approvals were received on March 29.