Nominations for election to the board of Volvo

NOMINATIONS FOR ELECTION TO THE BOARD OF VOLVO In advance of the AB Volvo Annual General Meeting on April 25, 2001, the Volvo Nomination Committee has decided to propose that, Louis Schweitzer, Patrick Faure and Ken Whipple be elected new members of the AB Volvo Board. Board members Sören Gyll and Sören Mannheimer have declined reelection to the AB Volvo Board. In addition, the following members have been proposed for reelection: Lars Ramqvist (Chairman), Per-Olof Eriksson, Tom Hedelius, Finn Johnsson and Leif Johansson. Louis Schweitzer is Chairman and CEO of Renault and a member of the boards of Pechiney, I.F.R.I (Institut Français de Relations Internationales), Philips and Electricite de France. Patrick Faure was President and CEO of Renault V.I. up to Volvo's acquisition of this operation at year-end 2000, when he was appointed Executive Vice President of Renault and Chairman of Renault Sport. He is also a member of the board of directors of VINCI. Ken Whipple was employed within the Ford Motor Company for a total of 40 years prior to his retirement in 1999. He was particularly active in the financial and marketing areas. Among other positions, he served as President of the Ford Financial Services Group and Chairman of Ford Motor Credit Company, as well as Chairman of Ford of Europe. Ken Whipple is a member of the boards of CMS Energy Corporation and Galileo International, Inc. He has also been a member of the Board of Governors of the World Economic Forum. "The proposed new members of the Volvo Board contribute a unique degree of sector experience. Their knowledge of and network of contacts in both the European and the North American market will make a valuable contribution to Volvo in its new structure and the further internationalization that will result from the acquisitions of Renault V.I. and Mack," says Thomas Halvorsen, Chairman of Volvo's Nomination Committee. The Nomination Committee's proposals are supported by shareholders representing more than 50 percent of the voting rights and more than 40 percent of the share capital in AB Volvo. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/03/08/20010308BIT00090/bit0001.doc http://www.bit.se/bitonline/2001/03/08/20010308BIT00090/bit0001.pdf