Press release from Volvo’s Nomination Committee

In preparation for AB Volvo’s Annual General Meeting on April 12, Volvo’s Nomination Committee has decided to propose that the Meeting reelect all of the Board members, including Chairman Finn Johnsson. The other members of the Board are Per-Olof Eriksson, Patrick Faure, Haruko Fukuda, Tom Hedelius, Leif Johansson, Louis Schweitzer and Ken Whipple. This proposal is supported by shareholders representing more than 50 percent of the votes in Volvo.

The Nomination committee’s other proposals – election of a chairman for the Meeting, remuneration for Board members, instructions for the election committee and appointment of the election committee – will be published in the notification of the Annual General Meeting. Volvos Nomination Committee, which was appointed during the third quarter of 2004, comprises the following persons until the Annual General Meeting: Lars Idermark, Chairman of the Committee, Second AP Fund Finn Johnsson, Chairman of the Board Thierry Moulonguet, Renault Marianne Nilsson, Robur funds Bengt Hane, representing small shareholders March 4, 2005 For further information, please contact Lars Idermark, tel: + 46 31-704 29 11