Volvo Trucks North America and UAW Agree on Three-Year Contract

Regulatory News:

   Volvo (NASDAQ:VOLV)(STO:VOLVA)(STO:VOLVB):

   Employees represented by the United Auto Workers have ratified a
new three-year agreement covering about 2,600 members of UAW Local
#2069 at the New River Valley, VA, plant. The new contract takes
effect on March 17, and will expire on March 16, 2011. The agreement
ends the UAW strike that began on February 1.

   "This agreement will help us improve the competitiveness of our
NRV plant, while continuing to provide our employees with a very
competitive package of wages and benefits," said Per Carlsson,
president and CEO of Volvo Trucks North America. "Our focus now is on
getting trucks to our customers as soon as possible, and strengthening
our relationship with our NRV employees."

   Employees will return to work on March 24, when the plant will
begin ramping up to an average daily production rate of 146 vehicles a
day.

   March 17, 2008

   Visit http://www.thenewsmarket.com/volvogroup to access
broadcast-standard video from Volvo Group. You can preview and request
video, and choose to receive as a MPEG2 file or by Beta SP tape.
Registration and video is free to the media.

   AB Volvo (publ) may be required to disclose the information
provided herein pursuant to the Securities Markets Act. The
information was submitted for publication at 08.00 a.m. March 17,
2008.

   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 100,000 people, has production facilities
in 19 countries and sells their products in more than 180 markets.
Annual sales of the Volvo Group amount to about SEK 285 billion. The
Volvo Group is a publicly-held company headquartered in Goteborg,
Sweden. Volvo shares are listed on OMX Nordic Exchange Stockholm.

   This information was brought to you by Cision
http://newsroom.cision.com
  
    
  
  
    
      Regulatory News:
    
    
      Volvo (NASDAQ:VOLV)(STO:VOLVA)(STO:VOLVB):
    
    
      Employees represented by the United Auto Workers have ratified a new 
      three-year agreement covering about 2,600 members of UAW Local #2069 at 
      the New River Valley, VA, plant. The new contract takes effect on March 
      17, and will expire on March 16, 2011. The agreement ends the UAW strike 
      that began on February 1.
    
    
      “This agreement will help us improve the 
      competitiveness of our NRV plant, while continuing to provide our 
      employees with a very competitive package of wages and benefits,” 
      said Per Carlsson, president and CEO of Volvo Trucks North America. “Our 
      focus now is on getting trucks to our customers as soon as possible, and 
      strengthening our relationship with our NRV employees.”
    
    
      Employees will return to work on March 24, when the plant will begin 
      ramping up to an average daily production rate of 146 vehicles a day.
    
    
      March 17, 2008
    
    
      Visit http://www.thenewsmarket.com/volvogroup 
      to access broadcast-standard video from Volvo Group. You can preview and 
      request video, and choose to receive as a MPEG2 file or by Beta SP tape. 
      Registration and video is free to the media.
    
    
      AB Volvo (publ) may be required to disclose the information provided 
      herein pursuant to the Securities Markets Act. The information was 
      submitted for publication at 08.00 a.m. March 17, 2008.
    
    
      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 100,000 people, has 
      production facilities in 19 countries and sells their products in more 
      than 180 markets. Annual sales of the Volvo Group amount to about SEK 
      285 billion. The Volvo Group is a publicly-held company headquartered in 
      Göteborg, Sweden. Volvo shares are listed on 
      OMX Nordic Exchange Stockholm.
    
    
      This information was brought to you by Cision http://newsroom.cision.com