Annual general meeting of AB Volvo

ANNUAL GENERAL MEETING OF AB VOLVO The Annual General Meeting of AB Volvo held on April 25 2001 approved the Board of Directors' proposal that a dividend of SEK 8.00 per share be paid to shareholders, a total of SEK 3.355.558.736. The record date for receipt of dividends was set at April 30, 2001. The dividends will be distributed to shareholders through VPC (the Swedish Securities Register Center) on May 4, 2001. The Meeting also approved a proposal that the Board of Directors of AB Volvo, in the period until the next annual general meeting, be authorized to make decisions regarding the acquisition and transfer of Volvo's own shares. Acquisition may be made of a maximum number of Series A and/or Series B shares so that Volvo, after each purchase, holds not more than 10 percent of the total number of shares. Acquisitions may be made through an offer directed to all shareholders at a price that is a maximum of 30 percent higher than the prevailing market price at the time of the Board's decision regarding such an offer. Purchases may also be made through trading on a stock exchange, authorized marketplace or another regulated marketplace on which the Company's shares are traded at a price per share corresponding to the prevailing market price. For the purpose of financing company acquisitions, transfer may be affected through an offer to all shareholders. Transfer may also be made to another party than a shareholder as payment in conjunction with company acquisitions. Per-Olof Ericsson, Tom Hedelius, Leif Johansson, Lars Ramqvist and Finn Johnsson were re-elected members of the Board. Newly elected members of the board are Louis Schweitzer, Patrick Faure and Ken Whipple. Louis Schweitzer is Chairman and CEO of Renault S.A. and Patrick Faure is Executive Vice President of Renault S.A. Ken Whipple was employed within the Ford Motor Company for a total of 40 years prior to his retirement in 1999. Among other positions, he served as CEO of Ford Financial Services Group and as President of the Ford Credit Company. Ken Whipple is a member of the Board of CMS Energy Corporation and Galileo International, Inc. He has also been a member of the Board of Governors of the World Economic Forum. Director fees for Board members were set at SEK 3,250,000, to be distributed among members in accordance with the Board's decision. April 25, 2001 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/04/25/20010425BIT00730/bit0003.doc http://www.bit.se/bitonline/2001/04/25/20010425BIT00730/bit0003.pdf

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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.

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