New Cheif Financial Officer of AB Volvo

NEW CHIEF FINANCIAL OFFICER OF AB VOLVO Stefan Johnsson has been appointed new chief financial officer of AB Volvo. He will succeed Jan Engström who earlier has been appointed new president of Volvo Bus Corporation. Stefan Johnsson, 39, was last year appointed member of Volvo Group Executive Committee, responsible for strategic matters and business development. He will keep these responsibilities also in his new position. Stefan Johnsson, who will assume his new position immediately, has served within the Volvo Group since 1987, including president of Volvo´s internal bank Volvo Group Finance. January 11, 1999 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/01/11/19990111BIT00140/bit0001.doc http://www.bit.se/bitonline/1999/01/11/19990111BIT00140/bit0002.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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