Management Appointments at Volvo Truck Corporation

    STOCKHOLM, Sweden--Dec. 21, 2001--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.