Correction: Volvo consolidated cash-flow statement, Q1 2005

In the Volvo Group’s interim report for the first quarter of 2005, an adjustment for the new IFRS reporting standards related to cash flow was classified incorrectly as financial instead of operative. The incorrect classification had no effect on Volvo’s consolidated income statement or balance sheet, nor did it affect Volvo’s financial position.

Volvo’s cash-flow model is intended to reflect actual cash flow on each line of the statement. This means that Volvo adjusts for certain changes in the balance sheet that are not classified as having an effect on cash flow, for example, currency movements, changes in accounting, such as the application of IFRS, International Financial Reporting Standards, and similar. In the report for the first quarter of 2005, an IFRS adjustment was classified incorrectly as financial instead of operative. The now adjusted classification results in the following changes in the cash-flow statement for the first quarter of 2005 (the abbreviation VFS in the tables refers to Volvo Financial Services): For full press release see attachment! For further information, please contact: Media Relations: Mårten Wikforss, +46 31 66 11 27 Investor Relations: Fredrik Brunell, +46 66 11 91