Changes in Volvo's Group executive committee

Changes in Volvo's Group Executive Committee Lars-Göran Moberg, President of Volvo Powertrain, will become a member of the Volvo Group Executive Committee, effective May 1. Volvo Powertrain has approximately 9,000 employees and develops and produces engines, gearboxes and other driveline components for trucks, buses, construction equipment and marine and industrial engines within the Volvo Group. Arne Wittlöv, Executive Vice President of AB Volvo, will retire in conjunction with Volvo's Annual General Meeting and will thus leave the Volvo Group Executive Committee. Arne Wittlöv joined Volvo in 1984 and his positions have included that of president of Volvo Aero. He has been a member of Volvo's Group Executive Committee since 1995. Arne Wittlöv will continue with his work as Chairman of Volvo Aero, and as a member of the Boards of Volvo Penta and Volvo Technology Transfer. April 24, 2001 For further information contact: Adi Nilson, tel +46 31 591127 ------------------------------------------------------------ This information was brought to you by BIT The following files are available for download:

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The Volvo Group is one of the world’s leading manufacturers of trucks, buses, construction equipment and marine and industrial engines. The Group also provides complete solutions for financing and service. The headquarter is located in Gothenburg, Sweden.