AB Volvo decides on repurchase of own shares

The board of AB Volvo have decided to acquire through purchase on Stockholmsbörsen (Stockholm Exchange) a maximum of 22,076,045 Series A and/or Series B shares, however, not to exceed a total purchase amount of SEK 4,300,000,000.

On April 16, 2004, the Annual General Meeting of AB Volvo authorized the Board of Directors to decide on the acquisition of own shares for, among other reasons, to create a more effective capital management for AB Volvo. The purchases may be carried out during the period until the Annual General Meeting in 2005. The buyback shall be made within the so-called spread and settlements will be reported via Stockholmsbörsen in accordance with applicable rules.

The total number of shares in AB Volvo amounts to 441,520,885, of which 138,604,945 Series A and 302,915,940 Series B shares.  AB Volvo currently holds 22,076,043 of its own shares (treasury stock), of which 6,930,246 Series A and 15,145,797 Series B shares.

June 17, 2004

For further information, please contact:

Media Relations: Mårten Wikforss, +46 66 11 27 or +46 705 59 11 49
Investor Relations: Fredrik Brunell, +46 31 66 11 91 or +46 705 59 10 91