VOLVO RELEASES OFFER PROSPECTUS

In a press release on May 26, 2003, Volvo announced a public offer to
Bilia's shareholders regarding Bilia's truck and construction equipment
operations, Kommersiella Fordon i Europa AB (KFAB).

The Board of Directors of Volvo has commissioned the preparation of an
offer prospectus to Bilia's shareholders. The prospectus is also
available on AB Volvo's website, www.volvo.com and D.Carnegie's website,
www.carnegie.se.
The acceptance period for the offer is from June 13, 2003 through July
4, 2003.

June 6, 2003

For further information contact Marten Wikforss, +46 31 66 11 27