Volvo Construction Equipment announces appointment of six new dealers in China

Volvo Construction Equipment announced the appointment of six new dealers on
January 2nd 2004 in Shanghai, China.

This brings to nineteen the total number of dealer partners for Volvo
Construction Equipment in China.

The six new dealers are:

* Xian Yuyuan Heavy Machinery Co., Ltd.
* Jinan Tianye Construction Machinery Co., Ltd.
* Wuhu Huali Construction Machinery Co., Ltd.
* Xuzhou Beili Construction Machinery Co., Ltd.
* Jiangsu Hongbo Construction Machinery Co., Ltd.
* Hebei Huanda Construction Machinery Co., Ltd.

We are delighted to announce these additional six partners at the start of the
New Year. These companies are experienced in the sales and marketing of
construction equipment in their respective territories and their level of
service reflects Volvos standard for customer care. This is a vital step in the
continuing development of our presence in this important market, said Keith
Ellis, President of Volvo Construction Equipment Asia Markets.

Each of the dealers will sell and service Volvos complete range of construction
equipment including wheel loaders, articulated haulers, excavators, motor
graders and compact equipment in their respective territories. 

January 12, 2004

For further information please contact Beatrice Cardon, Tel: +32 2 482 5021
e.mail: beatrice.cardon@volvo.com


The Volvo Group is one of the worlds 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 71,000 people,
has production facilities in 25 countries and sells their products in more than
185 markets. Annual sales of the Volvo Group amount to 18 billion euro. The
Volvo Group is a publicly-held company headquartered in Goteborg, Sweden. Volvo
shares are listed on the stock exchanges in Stockholm, London and Frankfurt and
on NASDAQ in the US.