Renault Trucks concludes truck-production agreement with Turkish company Karsan

Renault Trucks concludes truck-production agreement with Turkish company Karsan

Volvo Group subsidiary Renault Trucks has concluded a cooperation agreement with
the Turkish independent auto manufacturer Karsan concerning production of trucks
for the growing markets in Turkey and neighboring countries.

According to the agreement, Karsan will produce the trucks on behalf of Renault
Trucks at Karsan's plant in Bursa, Turkey, as of 2009. The models to be produced
by Karsan will be Renault Premium Route, Renault Premium Lander and Renault
Kerax. The vehicles will be distributed via Renault Trucks' dealer network in
Turkey and neighboring countries.

Karsan's plant will have the capacity to produce approximately 5,000 vehicles
annually on behalf of Renault Trucks. Karsan has 817 employees and manufactured
a total of 12,500 vehicles in 2006.

In 2006, the Turkish market for vehicles with a weight exceeding six tons
amounted to more than 40,000 units.

July 10, 2007

For reporters who want more information, please contact Mårten Wikforss, +46 31
66 11 27 or +46 705 59 11 49.

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 93,000 people,
has production facilities in 18 countries and sells their products in more than
180 markets. Annual sales of the Volvo Group amount to about 27 billion euro.
The Volvo Group is a publicly-held company headquartered in Göteborg, Sweden.
Volvo shares are listed on the Stockholm stock exchange and on NASDAQ in the US.