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Changed capital structure within AB Volvo

On April 12, 2005, the Annual General Meeting of AB Volvo decided among other matters to reduce the share capital by SEK 95,021,046 through cancellation without repayment of 3,084,619 Series A shares and 12,752,222 Series B shares that were repurchased by AB Volvo. This matter has now been accomplished.
Furthermore, the Annual General Meeting decided to increase Volvo's share capital by SEK 95,021,046 in a private placement to Carnegie Investment Bank AB through the new subscription of 15,836,841 Series C shares and to reduce the share capital by SEK 95,021,046 through redemption of all Series C shares.
These aforementioned measures have now been implemented and registered by the Swedish Companies Registration Office. In conjunction with the latter reduction, an amount of SEK 95,021,046 was allocated to the statutory reserve. AB Volvo's share capital now amounts to SEK 2,554,104,264, distributed among 135,520,326 Series A shares and 290,163,718 Series B shares.

May 17, 2005