Denial from Valeo: No negotiations with Johnson Controls

    PARIS--April 10, 2001--Valeo (Paris: FR; OTC: VLEEY) announces that it is not in negotiations with Johnson Controls to sell any part of its business.
    Valeo is an independent industrial Group fully focused on the design, production and sale of components, integrated systems and modules for cars and trucks, and ranks amongst the world's top automotive suppliers. The Group has 167 plants, 49 R&D centers, 10 distribution centers and employs 75,000 people in 24 countries worldwide.