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Volvo AB (0HTP)

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Wednesday 10 November, 2004

Volvo AB

AB Volvo announces share repurchase

AB Volvo announces share repurchase

Further to the decision taken by AB Volvo's Board of Directors on June 17, 2004,
regarding repurchase of own shares, AB Volvo has, on Tuesday,  November 9,
acquired 300,000 series B shares. The shares were traded between SEK 277.00 and
279.50 with an average price of SEK 278.27.

On June 17, 2004, the Board of AB Volvo decided to acquire through purchase on
Stockholmsbörsen (Stockholm Exchange) a maximum of 22,076,045 Series A and/or
Series B shares, however, not to exceed a total purchase amount of SEK

After the repurchase, AB Volvo is in possession of a total of 6,930,246 series A
shares and 17,220,797 series B shares. The total number of shares in AB Volvo
consists of 138,604,945 series A shares and 302,915,940 series B shares.

November 10, 2004

For further information, please contact:

Media Relations: Mårten Wikforss, +46 66 11 27 or +46 705 59 11 49
Investor Relations: Fredrik Brunell, +46 31 66 11 91 or +46 705 59 10 91

The Volvo Group is one of the world's leading manufacturers of trucks, buses and
construction equipment, drive systems for marine and industrial applications,
aerospace components and services. The Group also provides complete solutions
for financing and service. The Volvo Group, which employs about 78,000 people,
has production facilities in 25 countries and sells their products in more than
185 markets. Annual sales of the Volvo Group amount to 18 billion euro. The
Volvo Group is a publicly-held company headquartered in Göteborg, Sweden. Volvo
shares are listed on the stock exchanges in Stockholm, London and on NASDAQ in
the US.                                                                                                                            

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