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GOTEBORG, Sweden, June 5, 2002 (PRIMEZONE) -- AB Volvo and the Volvo Car Corporation will arrange a new Volvo Ocean Race, with start in Europe in 2005-2006. The nearly completed competition - the closest in the history of the race - has been a major public and sports success. After careful consideration, the two companies have decided to arrange a new round of the around the world yacht race.<P>Interest for the Volvo Ocean Race from the media and the public has been enormous during the nine months of the race. As of completion of the sixth leg, on May 5, TV broadcasts had reached an audience of more than 650 million around the world. As of the same date, TV stations in major markets in Europe, the U.S., South America, Asia and Africa had broadcast more than 760 hours from the Volvo Ocean Race. In the eleven most important markets, the race had generated nearly 13,000 articles. Interest was also heavy on the Internet -- the Volvo Ocean Race website attracted nearly three million unique visitors.<P>``For the Volvo Group, there was no doubt about continuing with the race. The media response has been overwhelming and the response within the Group has been very positive,'' said Leif Johansson, President of AB Volvo. ``We are looking forward to another successful event in 2005-2006 and we are determined to strive to make the next race an even greater success.''<P>The Volvo Car Corporation is also very satisfied with the results of the race.<P>``Owning an event such as this has proven to be of great value for us. The attention focused on the race generates a highly positive message, externally and internally,'' says Hans-Olov Olsson, President of Volvo Car Corporation. ``The TV and press coverage alone of the Volvo Ocean Race has made the event a good investment.''<P>In preparation for the next round of the race, the ambition of AB Volvo and Volvo Car Corporation is to reduce the costs for the participating syndicates. To succeed with this, both companies will carefully analyze a number of aspects of the race, such as the legs, timeframe, boat type, sails and other factors. The next round of the Volvo Ocean Race will probably involve stops in South Africa, Asia, South America, the US and Europe. The details regarding the final route will be announced in spring 2003. There are also discussions under way about adding new elements to the race.<P>The next round of the race will also be organized and managed by Volvo Event Management and the Volvo Ocean Race headquarters in Southampton, U.K. AB Volvo and Volvo Car Corporation will soon finalize decisions and more detailed information and it is expected that the first preliminary plan will be released in spring 2003.<P>
 
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