All conditions for the implementation of Volvo's offer to the
shareholders of kommersiella fordon europa ab have been met

*   Bilia's decision on distribution of shares in Kommersiella Fordon
Europa AB has been effected
*   All conditions for the implementation of Volvo's offer to the
shareholders of Kommersiella Fordon Europa AB have been met
*
Volvo has established that all conditions for the offer have been met
since the shares in KFAB have been registered in the VP-accounts of the
shareholders of Bilia. Thus, settlement by payment in the form of shares
in Bilia will commence on 14 July, 2003.

As previously announced, the acceptance period is extended through
August 8, 2003 for those shareholders who have not yet tendered their
shares. Settlement for shareholders who submit their shares during the
extended acceptance period is expected to be August 15, 2003.

July 11, 2003

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