Volvo invests in Proxio AB, whose software technology reduces transport costs
and protects the environment

The Volvo Group, through Volvo Technology Transfer, jointly with KTH Chalmers
Capital, is investing in Gothenburg-based Proxio AB. Proxio has developed the
software solution Proxio Optimizer™ that assists buyers of transport services to
enhance the efficiency of transport and logistics services, which in turn
contributes to lower costs and reduced environmental impact. Proxio's solution
has shown it could reduce a company's transport costs by at least 15% and fully
implemented, Proxio Optimizer could contribute to annual cost savings of more
than SEK 100 M for the Volvo Group.

The purchase of transport and logistics services is costly and the difficulty of
correctly procuring and using various transport solutions often results in
unnecessary costs for buyers of transport services. In addition to the costs,
the inefficient use of transports has an adverse impact on the environment.
Proxio Optimizer™ permits the user to simulate various alternatives and as a
result reduce transport costs and environmental effects.

“Proxio has a very high potential since its software not only contributes to
major costs savings but also permits a practical and effective planning of
transports and, consequently, reduced emissions of carbon dioxide,” says Per
Wassén, Investment Director at Volvo Technology Transfer.

Proxio Optimizer can calculate and optimize the discharge of carbon dioxide in
evaluating different transport services and work is under way to further improve
the efficiency of the software with regards to the environmental area.

“Part of the gain with Proxio Optimizer is the ability to understand and
simulate different alternatives. Designing transportation setups, especially
situations with a lot of competing alternatives, results in massive amounts of
information. Proxio Optimizer allows users to turn that data into
straightforward decision materials. Analyses that previously took months are
done within days or a week”, says Henrik Erkfeldt, Project Manager at Volvo
Logistics, responsible for methods and tools for logistic network optimization.

Volvo Technology Transfer AB is part of AB Volvo and focuses on developing and
supporting new business relevant to the Volvo Group. Part of the effort is to
invest in companies and projects that are technically and commercially
Proxio AB will participate and present the software Proxio Optimizer™ at the
Logistic & Transport fair, May 20-22, 2008 in Gothenburg.

April 23, 2008

For reporters who want more information, please contact Per Wassén, Volvo
Technology Transfer, +46 31 66 91 68 or +46 708 96 00 55

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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 15.00 p.m. April 23, 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.