Business/High-Tech Editors, Auto Writers

CHICAGO--(BUSINESS WIRE)--July 5, 2001

IFS (XSSE:IFS) has signed a contract with Volvo Car Corporation, a Ford-owned company, to implement IFS Applications 2001(TM) business software valued at $1 million.

IFS will deploy its internet-based material supply system at Volvo Cars' Engine Centre Torslanda in Gothenburg, Sweden, and Engine Centre Gent in Belgium. The system is expected to be running in January 2002. The main reason for the upgrade is to meet increased demands when introducing new car models and to support added production capacity.

Volvo Cars has been an IFS automotive customer since 1995. This implementation will be a substantial upgrade for the IFS solution selected six years ago. In addition to upgraded automotive functionality, Volvo Cars has chosen portal-based interfaces, making it possible for the company to integrate suppliers and customers via the Internet.

"After an extensive evaluation of a number of possible alternatives, including in-depth assessment of software functionality, technical support capability and company strength, we decided to make a significant upgrade from our current solution to IFS Applications 2001. This solution will add new functionality to our system portfolio," said Bo Persson, Volvo Cars information technology coordinator for manufacturing process.

"During the last year, we have won several new automotive contracts. The IFS software continues to be one of the major automotive solutions on the market today because its internet-based modules form a complete system that ensures swift, precise and cost-effective material supplies at all stages," said Gosta Blomqvist, president of IFS Sweden.

About Volvo Car Corporation (www.volvocars.com)

Volvo Car Corporation designs and manufactures Volvo Cars, which are sold in more than 100 countries. Most of the company's research and development is in Gothenburg, Sweden, while the main production occurs in Belgium, the Netherlands and Sweden. Volvo Car Corporation has approximately 27,000 employees.

About IFS and IFS Applications (www.ifsworld.com)

IFS develop and supplies component-based business applications for medium and large enterprises. IFS Applications, which is based on web and portal technology, offers 60+ enterprise application components used in manufacturing, supply chain management, customer relationship management, financials, engineering, maintenance and human resource administration. IFS provides customers step-by-step evolution to the extended enterprise with e-business solutions that offer partner, customer, and supplier collaboration.

A top five global business applications supplier, IFS has more than 3,500 employees, with sales in 43 countries. The company is listed on the Stockholm Stock Exchange (XSSE:IFS).

IFS Applications is a trademark of IFS Industrial and Financial Systems. All other referenced company or product names are trademarks or registered trademarks of their respective owners.