My gut tells me no, as you're going ahead 2 iterations of volvo cars (three if you want to give OBD its own category). If you and him have all the electronics, and both engines are the B5234T engine, you just might be able to make it fit. That assumes you use a lot of his parts still work, and have the holes in the block (for instance I don't think the 95 has the hole drilled for the oil level sensor). I think the transmission will still mount up, as its still an AW50, but I'm not certain on that. The M56 is available on both cars, so there's hope its the same mount.. The intake manifold will bolt on, but I'm not entirely on the exhaust.
--
If you're not driving it "like its stolen," are you really driving?