Breakthrough for Volvo Buses in Budapest

Volvo Buses has signed an order for 150 buses for Budapest's municipal
transport. This is the first time ever that a foreign company has won an
order for municipal transport in Budapest. "This is a big breakthrough
for Volvo Buses", says Fredrik Rostad, Sales Manager - Eastern Europe.

Volvo Buses won the order in competition with every major bus
manufacturer in Europe. The customer, BKV Rt, is a municipal company
with responsibility for all urban public transport in Budapest.

The buses entering service in Budapest are the 7700 model articulated
bus, which is a typical low-floor bus designed for urban public
transport. The buses will be delivered complete and are being built in
Volvo Buses' factory in Poland.

"We view this order as the start of a long-term cooperation in which we
will do everything to be the best possible partner for the future," says
Fredrik Rostad

The first 50 buses are to be delivered in May 2004, and the remaining
100 during 2004/2005.

November 20, 2003

For further information, please contact Christina Fjellman, +46-739-02 42 80