AB Volvo to be delisted from Frankfurt, Dusseldorf and Hamburg stock
exchange

The Board of AB Volvo has decided to apply to be delisted from
Frankfurt, Dusseldorf and Hamburg stock exchanges.

Volvo has been listed on the German exchanges in Frankfurt, Dusseldorf
and Hamburg since 1974. This listing was a feature of the Board's
efforts to increase international ownership in Volvo. However, the
deregulation of the international capital markets and the increased
foreign ownership of shares on Stockholmsborsen have meant that this
special listing has outlived its usefulness.

The Board of AB Volvo has therefore decided to apply for a delisting of
the Volvo share from the stock exchanges in Frankfurt, Dusseldorf and
Hamburg. The delisting from the three stock exchanges is expected to be
complete during the fall of 2004.

October 8, 2003

For further information, please contact Fredrik Brunell, Tel: +46 (0)31-
66 11 91, or Patrik Stenberg, Tel: +46 (0)31-66 13 36.