Call option program for Volvo executives

CALL OPTION PROGRAM FOR VOLVO EXECUTIVES AB Volvo decided during 1998 to introduce a rolling options program under which senior executives of the Volvo Group will be allocated call options for Series B shares in AB Volvo. The first allocation of options was implemented in May 1999. Now the second allocation will be implemented. The price per option has been set by UBS Warburg at SEK 55.75. The lifetime is 5 years and the exercise price is SEK 320. In total, 120,765 options will be allocated to approximately 60 senior executives. The options are allocated to the executives as part of their bonus. May 2, 2000 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/05/02/20000502BIT01130/bit0001.doc http://www.bit.se/bitonline/2000/05/02/20000502BIT01130/bit0002.pdf