The ABOVE announcement is for information purposes only and is not intended to constitute, and should not be construed as, an offer to sell or a solicitation of any offer to buy any securities of Volvo Cars, and such securities (the "Securities") in the United States, Australia, Canada or Japan or in any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of such jurisdiction. The Securities referred to herein may not be sold in the United States unless they are registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or are exempt from registration. Any offering of the Securities described IN THE ANNOUCEMENT HAVE not been and will not be registered under the U.S. Securities Act and accordingly any offer or sale of these Securities may be made only in a transaction exempt from the registration requirements of the U.S. Securities Act. Any Securities sold in the United States will be sold only to "qualified institutional buyers" (as defined in Rule 144A under the U.S. Securities Act).
There will be no public offering of the Securities referred to herein in the United States.
