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Three months ended March 31, 2008

AB Volvo reaches settlements with DOJ and SEC

On March 20, it was announced that AB Volvo has entered into a consent agreement with the U.S. Securities and Exchange Commission (SEC) and a deferred prosecution agreement with the U.S. Department of Justice (DOJ) resolving issues related to the activities of two of its subsidiaries in Iraq under the Oil-for-Food Program. The settlements include a total of approximately SEK 117 M in fines, disgorgement of past profits and interest. The effect of the financial settlements on the operating income for the first quarter is approximately SEK 60 M.

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