Press releases 2008

The error of the calculation in the change column for February has now been corrected. Total deliveries of trucks from the Volvo Group’s four truck companies in February amounted to 22,100, which is an increase of 54%, compared with the year-earlier period.

Volvo Treasury AB (publ) has decided to issue a SEK 500 million bond loan under its EMTN (Euro Medium Term Note) programme. The bond loan will be issued on March 14th, 2008 with a maturity on September 14th, 2009. The bond loan has a floating interest rate.

Employees represented by the United Auto Workers have ratified a new three-year agreement covering about 2,600 members of UAW Local #2069 at the New River Valley, VA, plant. The new contract takes effect on March 17, and will expire on March 16, 2011. The agreement ends the UAW strike that began on February 1.

The GEnx-2B engine that will power the new Boeing 747-8 aircraft has started its certification program with a successful ground testing at General Electric’s outdoor testing facility in Peebles, Ohio. During the first ground testing the GEnx-2B demonstrated 70,950 pounds of takeoff thrust. “The successful engine testing marks a highly significant milestone for the project and sets a positive tone for continued testing during 2008/2009,” comments Joakim Andersson, GEnx Project Leader at Volvo Aero.

Professor Wolfgang Kropp at Chalmers University of Technology in Göteborg has been awarded the 2007 scholarship by the Håkan Frisinger Foundation for Transportation Research. Wolfgang Kropp is receiving the scholarship, which totals SEK 250,000, for his research work in the area of Building Acoustics, Noise and Vibrations.

AB Volvo’s subsidiary Mack is launching a new prestige truck, Titan by Mack™. The model is developed specifically for heavy haulage and construction work and is equipped with the new 16-liter MACK® MP10 engine.

Today, Wednesday, March 12, AB Volvo has published its Annual Report for 2007. The Report is available on Volvo’s website, www.volvogroup.com.

In preparation of the Annual General Meeting of AB Volvo on 9 April 2008, Volvo’s Election Committee has decided to propose that Peter Bijur, Tom Hedelius, Leif Johansson, Philippe Klein, Louis Schweitzer, Ying Yeh, Lars Westerberg and the Chairman of the Board, Finn Johnsson, be re-elected as members of the Board of Directors. Per-Olof Eriksson has announced that he is not available for re-election.

Volvo Treasury AB (publ) has decided to issue a SEK 500 million bond loan under its EMTN (Euro Medium Term Note) programme. The bond loan will be issued on March 7th, 2008 with a maturity on September 7th, 2009. The bond loan has a fixed interest rate.

After the Volvo Group’s notable showcasing of carbon-dioxide-neutral trucks in Stockholm and Brussels last year, it is now Washington, DC’s turn. In conjunction with the Washington International Renewable Energy Conference (WIREC) arranged by the US State Department, the Volvo Group will later today present seven different trucks, all of which can be driven without any net contribution of carbon dioxide to the atmosphere.