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Is it leaking between the seal and cam shaft, or between the outer diameter of the seal and the casting?
If the latter, you may be getting a hold of substandard seals. (Did it seem to slide in too easily?) I had that problem myself once. Replacing it with a (more costly) Volvo part was the fix.
BTW - Have you figured out yet that you can replace the cam seal on the 740's by just removing the upper belt cover and sprocket, and leaving the harmonic pulley, lower belt cover, etc., all in place? Only, of course, if you haven't saturated the belt with oil.
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