Press release from the Election Committee of AB Volvo

STOCKHOLM, Sweden--(Business Wire)--
Regulatory News:

In preparation of the Annual General Meeting of AB Volvo
(STO:VOLVA) (STO:VOLVB) on 9 April 2008, Volvo's Election Committee
has received confirmation of candidacy from Ravi Venkatesan, who
accordingly is proposed by the Election Committee to become a new
member of the Board of Directors in addition to the proposal already
disclosed by the Election Committee.

Ravi Venkatesan, 45 chairman of Microsoft Corporation (India) Pvt.
Ltd, is responsible for Microsoft's marketing, operational and
business development activities in India.

Before joining Microsoft, Ravi Venkatesan worked for over 17 years
with Cummins, Inc, a US-based designer, manufacturer and distributor
of engines and related technologies. He served in various leadership
capacities at Cummins, including chairman of Cummins India Ltd and
managing director of Tata Cummins Ltd, a joint venture between Cummins
Inc and Tata Motors Ltd. Under his leadership, Cummins became the
leading provider of power solutions and the largest manufacturer of
automotive engines in the country.

Further more, Ravi Venkatesan has a MBA from Harvard University
and a Master's Industrial Engineering from Purdue University.

Ravi Venkatesan will add a relevant industrial experience for
Volvo as well as a geographical knowledge from India and Asia in
general.

The Election Committee's complete proposals regarding the
constitution of the Board are accordingly as follows. The Election
Committee proposes nine members and no deputy members. The Election
Committee further proposes the re-election of Peter Bijur, Tom
Hedelius, Leif Johansson, Finn Johnsson as Chairman, Philippe Klein,
Louis Schweitzer, Lars Westerberg and Ying Yeh and the election, for
the first time, of Ravi Venkatesan.

A survey among Volvo's shareholders indicates that owners
representing more than 50 percent of the votes in the company support
the proposal of the Election Committee.

This information was brought to you by Cision
http://newsroom.cision.com

Volvo
Thierry Moulonguet, +33-1-7684 6343
Chairman of the Election Committee

Copyright Business Wire 2008