MANAGEMENT APPOINTMENTS AT VOLVO TRUCK CORPORATION

12/21/2001 3:16 AM EST

Management appointments at Volvo Truck Corporation

Roar Isaksen has been appointed head of Volvo Truck Corporation's Europe
Division. Roar Isaksen is today responsible for the International
Division and will take up his new position January 15, 2002

Roar Isaksen joined the Volvo Group in 1995, following a career in the
Atlas Copco Group. Prior to his current position as head of the
International Divison, he was the President of Volvo Parts in North
America.

Claes Svedberg, today president of Volvo Truck Australia, has been
appointed successor to Roar Isaksen as head of the International
Division.

Claes Svedberg has been working for Volvo Trucks in the Asia/Pacific
area for eleven years, whereof four years in Thailand. He entered his
current position as president of Volvo Truck Australia four years ago.

December 21, 2001

For further information please contact Claes Claeson
tel +46 31 363908, mobile +46 708 36 3908