VOLVO TRUCKS IN NORTH AMERICA SECURES MAJOR ORDER

Volvo Trucks North America has signed a contract with Covenant Transport
Inc, Chattanooga (Tennessee), for the delivery of up to 500 Volvo VN
trucks.
Covenant is one of the largest transport companies in the US and the
deliveries will be made during the third quarter of 2003. The new Volvo
VN, which was launched in August 2002, has been well-received in the
North American market. The order from Covenant is for the Volvo VN670,
with sleeping cabins and Cummins ISX engines.

May 23, 2003

For further information, please contact Claes Claeson, 
Tel: +46 (0)31-66 39 08