WARNING: This page is about a different car, the 2002 Volvo C70, 2001 Volvo C70, 2000 Volvo C70, 1999 Volvo C70, and 1998 Volvo C70. However, it is still accessible from the selected car via links, so may be relevant.
Condition
Fig 1: Identifying Clutch Control Mechanism
Courtesy of VOLVO CARS OF NORTH AMERICA.
There is a squeak when the clutch is used.
Possible Source
The auxiliary spring in the clutch control mechanism is not lubricated.