Volvo Sells Xpeditor

Greensboro, N.C. — Volvo Trucks North America Inc. announces the sale of its Xpeditor truck product line to Grand Vehicle Works Holdings LLC. The agreement includes the assembly and sale of low cab-over engine (LCOE) heavy class 8 trucks and the licensing of "Autocar" to a recently formed Grand Vehicle Works Holdings subsidiary entitled Autocar. By selling Xpeditor, Volvo is complying with the U.S. Department of Justice antitrust clearance from the acquisition of Renault V.I. and Mack Trucks Inc. in Dec. 2000.