AB Volvo announces share repurchase

Further to the decision taken by AB Volvo's Board of Directors on June 17, 2004, regarding repurchase of own shares, AB Volvo has, on Wednesday, November 24, acquired 200,000 series B shares. The shares were traded between SEK 272.50 and 275.50 with an average price of SEK 274.04.

On June 17, 2004, the Board of AB Volvo 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. After the repurchase, AB Volvo is in possession of a total of 6,930,246 series A shares and 19,625,797 series B shares. The total number of shares in AB Volvo consists of 138,604,945 series A shares and 302,915,940 series B shares. November 25, 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