Haldex invests in mobile Internet in vehicles

5/15/2000 5:01 EST

Haldex has entered as a part owner in Drive-IT Systems AB with an
investment of 8 MSEK. The ownership amounts to just over 13% of the
capital with an option to acquire additional shares up to 20% of the
capital.

Drive-IT Systems is a knowledge company that develops and markets
computerized systems for mobile Internet services in vehicles. Hereby,
Haldex has taken a step towards the mobile Internet technology with
applications in vehicles.

Drive-IT has developed and launched a complete, computerized system for
Carsharing which includes vehicle terminals, communication and business
system. Monitoring and communication terminals in vehicles are through the
GSM network in direct contact with the booking central and the business
system. A first order has been signed with Statoil, Scandinavia's leading
car rental company.

Drive-IT is now developing the next generation's Internet-based computer
system for vehicles with applications for e.g. Fleet Management (truck and
trailer fleets, construction vehicle fleets, rental cars, etc.), and for
various kinds of Internet-based services in vehicles for private car
owners.

The markets for Carsharing and Fleet Management are substantial and show
strong growth. Significant growth is also expected for Internet services
in vehicles.

Based on new technologies - GPRS/EDGE/WCDMA - Drive-IT's vehicle terminals
will act as thin clients with continuous connection to Drive-IT's portal
and Internet.

Drive-IT has competence that covers the whole chain: electronics in
vehicles - mobile technology - server environment - web interface -
business systems. As part owner, Haldex can contribute with complementing
competence in vehicle electronics, and a broad international network
within the vehicle industry.

Drive-IT Systems AB has been founded by five entrepreneurs in Gothenburg
and Stockholm with previous experience in the vehicle and Internet
business segments. The company was established in 1998 with offices in
Stockholm and Gothenburg and presently employs 13 people. A new shares
issue will add 20 MSEK to the company's capital as of May 19, 2000. The
money will be used for further product development and international
expansion.

In addition to Haldex, the new shares issue has been signed up for by an
international, financial investor with broad experience in the technology
area.

Haldex is a global supplier of proprietary products for trucks, cars and
industrial vehicles, with special emphasis on performance & safety. The
Group is listed on the Stockholm Stock Exchange and has yearly sales of 6
BSEK with 4,150 employees. The Group has sales companies in Europe, North
& South America and Asia. Production takes place at 8 factories in Europe,
8 in the U.S. and 1 in India and Brazil.

For further information contact Claes Warnander or Lennart Hammargren,
phone +46 8 678 72 70.

May 15, 2000