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Volvo AB (VOL)

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Thursday 13 June, 2002

Volvo AB

Volvo buses chosen as preferred supplier to the tw



"This announcement is reissued as a correction. The original announcement at
8.43am incorrectly associated it with BSoftB PLC."

Volvo Buses chosen as preferred supplier to the two leading Mexican Bus
Operators

Volvo Buses has been chosen as preferred supplier to two of the leading
bus operator groups - the Flecha Amarilla and Toluca Groups - in Mexico.
The new contract runs for three years with about 600 buses to be
delivered per year. The contract includes buses and coaches for various
applications from regular services up to luxury coaches, as well as
transit buses. This agreement follows the earlier order for 900 units of
Volvo 7550, whereof the majority was delivered in 2000 and 2001.

The contract gives Volvo Buses a leading position within the upper
segments in the Mexican market. The deliveries will start already in mid
2002 and continue until mid 2005. The total framework agreement amounts
to approximately SEK 3.0 billion.

With the introduction of the Volvo 7550, the Flecha Amarilla and Toluca
Groups and Volvo have created a new standard in the market in upper
class services. Volvo continues the trend by introducing the TX-platform
through Volvo 9700 and extends the offer into the regular services with
the Volvo 7350, built on the 7-litre platform. The introduction of the
Volvo 9700 - in both a two- and a three-axle version - is a step in the
global rollout of the TX-platform. For the transit service, MASA C11R
with a new face-lift will be delivered.

"We are very honoured that the Flecha Amarilla and Toluca Groups have
decided to choose Volvo Buses as their preferred supplier and long-term
partner. The repeat order confirms our investments in a Mexican
industrial base with quality products and a dedicated aftermarket
operation. The operators and passengers in this demanding market have
very well appreciated our products. Mexico has been the number one
market in deliveries for us both in 2000 and 2001 and we are very
encouraged by our customers confidence in our new products", said Jan
Engstrom, President and CEO, Volvo Bus Corporation.

Volvo Bus Corporation acquired Volvo Buses de Mexico, formerly MASA, in
late 1998. Volvo products - the Volvo 7550 - were introduced in 1999
when the first contract for 900 coaches with the Flecha Amarilla and
Toluca Groups was finalised. The project was accomplished in a very
short time through a successful transfer of European technology and
industrial know-how for local manufacturing. Deliveries were finalised
in September 2001.

In  Mexico  with a population of 100 million inhabitants and  2  million
square  kilometres of territory, the bus is by far, more than  95%,  the
most frequently used form of passenger transportation. The intercity bus
fleet is approximately 32 thousand units.

The  Flecha  Amarilla and Toluca Groups are two of the  leaders  in  bus
operation  in  Mexico representing 12 main operators in a  market  where
coaches carry more than 2.5 billion passengers per year.

June 13, 2002

For more information please contact:

Helene Mellquist
Vice President Corporate Communication, Volvo Bus Corporation
Tel: +46 31 66 12 06, Fax: +46 31 66 72 88
E-mail: [email protected]


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