Invitation to press conference

Volvo hereby invites the mass media to a press conference on Tuesday, February
3, in conjunction with the release of the Volvo Groups report on operations,
2003.

Time: 10:00 a.m. CET
Location: Sparvagnshallarna, Birger Jarlsgatan 57A, 113 81 Stockholm
Tel: 08-152244, Fax: 08-153066

Volvo will be represented at the press conference by CEO Leif Johansson, among
other Volvo executives. Volvos report is scheduled to be released at about 7:30
a.m. CET on February 3. The press conference will be webcast via Internet on
www.volvo.com and it will also be possible to participate and ask questions via
telephone. For those who wish to participate in the press conference by
telephone, please call +44(0)207 019 9523 (UK), +1 718 354 1153 (US) or +46(0)8
5069 2133 (Sweden) 5-10 minutes prior to the start. The teleconference for
analysts at 3:00 p.m. CET will also be webcast via volvo.com. Please use the
same telephone number as the press conference to participate.

Welcome!

Volvo

January 20, 2004

For further information, contact:

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


The Volvo Group is one of the worlds 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 71,000 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 Goteborg, Sweden. Volvo
shares are listed on the stock exchanges in Stockholm, London and Frankfurt and
on NASDAQ in the US.