Press releases 2004

As part of the review of pension agreements for senior executives within the Volvo Group, all of the executives who currently have defined-benefit pension agreements are being offered to switch to a defined-contribution agreement.

Further to the decision taken by AB Volvo's Board of Directors on June 17, 2004, regarding repurchase of own shares, AB Volvo has, on Tuesday, December 7, acquired 250,000 series B shares. The shares were traded between SEK 268.00 and 273.00 with an average price of SEK 271.35. And has acquired 10,000 series A shares. The shares were traded between SEK 258.00 and 262.50 with an average price of SEK 260.12.

Further to the decision taken by AB Volvo's Board of Directors on June 17, 2004, regarding repurchase of own shares, AB Volvo has, on Monday, December 6, acquired 300,000 series B shares. The shares were traded between SEK 266.00 and 269.00 with an average price of SEK 267.84.

Volvo Construction Equipment (Volvo CE) and McClung-Logan Virginia LLC, a subsidiary of McClung-Logan Equipment Company, Inc., Baltimore, Maryland, have signed an agreement to sell Volvo CE's LB Smith dealership operations in Virginia to McClung-Logan Virginia.

Volvo Construction Equipment (Volvo CE) has sold its LB Smith dealership operation in Tallahassee, Florida, to Flagler Construction Equipment LLC (Flagler), Maitland, Florida, USA.

Volvo Construction Equipment (Volvo CE) has sold its LB Smith dealership operations in North Carolina, South Carolina, Georgia, Alabama, and eastern Tennessee to ASC Construction Equipment USA, Inc., Charlotte, North Carolina.

Further to the decision taken by AB Volvo's Board of Directors on June 17, 2004, regarding repurchase of own shares, AB Volvo has, on Wednesday, December 1, acquired 250,000 series B shares. The shares were traded between SEK 273.00 and 274.50 with an average price of SEK 273.52.

Volvo Penta is starting wholly owned operations in Poland through the acquisition of its independent importer, Marco Motors.

Further to the decision taken by AB Volvo's Board of Directors on June 17, 2004, regarding repurchase of own shares, AB Volvo has, on Tuesday, November 30, acquired 250,000 series B shares. The shares were traded between SEK 271.50 and 275.50 with an average price of SEK 273.94.

Further to the decision taken by AB Volvo's Board of Directors on June 17, 2004, regarding repurchase of own shares, AB Volvo has, on Monday, November 29, acquired 250,000 series B shares. The shares were traded between SEK 276.00 and 277.50 with an average price of SEK 276.68.