Volvo: Press release from Volvo's Election Committee

Ying Yeh, 55, had a distinguished career in the U.S. GovernmentForeign Service, enjoying postings to Burma, Hong Kong, Taiwan andBeijing. Since 1997, she has worked for Kodak in China and since 2005is the President and Chairman of Kodak North Asia Region, includingGreater China (Hong Kong and Taiwan) and Korea. In 2003 she was votedone of the ten most influential persons in technology in China and oneof top ten new business leaders in China.

Peter Bijur, 63, is currently retired and has worked for theTexaco oil company for more than 30 years. He retired from the companyas Chairman and Chief Executive Officer. Prior to becoming Chairmanand CEO, he was responsible for the company's operations in Europe,Latin America/West Africa and the Middle East/Far East. As President,he also initiated the discussions that eventually resulted in themerger with Chevron in 2001.

Philippe Klein, 48, works for Renault SA and is a member of theRenault Management Committee. Philippe Klein has worked in theautomotive industry for more than 20 years and has been head of theIndustrial System Performance Department. Following the alliance withNissan in 1999, he joined Nissan to serve as Vice President, CEO'sOffice, for four years.

The Election Committee's other proposals - election of MeetingChairman, fees to the Board, instructions for the Election Committeeand appointment of the Election Committee - will be announced inconjunction with the notice of the Annual General Meeting.

The Election Committee, which was appointed in the third quarterof 2005, comprises the following members through to the Annual GeneralMeeting:

Lars Idermark, Committee Chairman, Second AP Fund

Finn Johnsson, Board Chairman

Thierry Moulonguet, Renault

Marianne Nilsson, Robur Funds

Curt Kallstromer, Svenska Handelsbanken

February 21, 2006

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