Performed the oil change on my 2001 V70 T5. I think 03 is the same. The procedure detailed for the 2001 XC70 in the following site was helpful to me.

http://cvolvo.com/Central/Repair/B5254T.html

Some special things different than most other cars

- take off 7 bolts (12mm) on the plastic cover protecting the bottom of the engine. Got to do this before you can get to either the drain plug or the oil filter.

- need special wrench to remove the filter. Get it from IPD ($30 shipped) or Volvo dealer ($35+)

- filter case located on the edge of the oil pan towards the passenger side.

- filter change involves only the filter element. Plastic casing is reused unlike most other car's disposable filters with metal casing. New rubber O ring seal (came with my MANN filter) replacing the old one on the plastic casing.

- Need oil pan > 6qt

- Seems that no one take the hassle of draining the residual oil from the oil cooler.

- oil drain plug = 17mm

Not as hard as it sounds but a few more steps than typical cars. Using synthetic oil gave my engine more power. Good Luck

2001 V70 T5 ASR

The sump plug is on toward the rear of the pan, to the back of the car. Seems to me that it might be a 14 head, but I usually get it wrong and have to go back to the box for another socket. The filter is inside a plastic canister that hangs down toward the front of the motor on the front side of the car. Special tool available from the dealer or ipd to remove the canister. The filter insert is just a paper cartridge, the washer for the drain plug is aluminium. My n/a motor holds just about 6.5 quarts.