Press releases 2003

Bilia's decision on distribution of shares in Kommersiella Fordon Europa AB has been effected.All conditions for the implementation of Volvo's offer to the shareholders of Kommersiella Fordon Europa AB have been met.

Åke Niklasson has been appointed new president of Volvo Logistics. Åke has long experience from various positions within Volvo Logistics and his latest position has been as president of Volvo Logistics North America.

Volvo controls more than 90 percent of capital and votes in Kommersiella Fordon Europa AB. The acceptance period has been extended through August 8, 2003.

SAP, the world leaders in business systems, has appointed Volvo IT as its certified Hosting Partner. Volvo IT and SAP will together supply software, implementation, operations and support to the manufacturing industry.

The 2003 Volvo Environment Prize is being awarded to two pioneers who placed people and their need in focus. Madhav Gadgil from India and Mohammad Yunus from Bangladesh have each in his respective field created new models for understanding and transforming the relationships between poverty, development and the environment.

AB Volvo hereby invites the representatives of the media to a press conference on Wednesday, July 23, in conjunction with the release of the Volvo Group's report on the first six months 2003.

Volvo Mobility Systems, a telematics unit within the Volvo Group, has together with Norwegian system integrator Mobitech a/s delivered the first Automatic Vehicle Location (AVL) and Real-time Passenger Information (RTPI) system in Norway. The customer, Tromsö City, uses the system to provide travel information in real time to its passengers, and to monitor and control its city bus operations.

Volvo IT tecknar avtal om att sälja hela sitt innehav i telefoniföretaget Effero AB, motsvarande 45 procent av aktierna. Köparen är Flextronics Network Services AB, som även förvärvar WM-datas andel, motsvarande 55 procent av aktierna.

Deliveries from Volvo's truck operations, which include Volvo Trucks, Mack Trucks, Inc. and Renault Trucks, declined 11% in May, compared with the corresponding month last year. On a year-to-date basis, deliveries amounted to 61,772 trucks, which is in line with the year-earlier period. In Europe, deliveries increased 1%, while North America posted a 12% decline compared with the first five months in 2002.

As announced earlier, AB Volvo has applied to be delisted from the First Market of the Euronext Brussels stock exchange. This application has now been approved and the Volvo share will be delisted from the official list as of June 16, 2003.