Valeo Announces Recent Appointments

    PARIS--April 26, 2001--Valeo (Paris: FR; OTC: VLEEY) today announced the following organizational changes and appointments within the Group:

    1. As from March 26th, 2001, the Electronics and Connective
    Systems Branches were re-organized to complete the integration
    of the Labinal activities acquired last year into the Group.
    The new Electronics & Connective Systems Branch includes the
    electronics, body controllers and wiring harnesses activities
    and is headed by Claude Leichle, previously Vice President of
    the Electronics Branch. The new Switches & Detection Systems
    Branch includes the switches and sensors activities. Wolfgang
    Dehen is been appointed Vice President of the Switches &
    Detection Systems Branch.

    2. As from March 30th, Xavier Veret is appointed Chairman's
    Delegate. He has been in the Group since 1996 and was
    previously Director, Internal Audit.

    3. As from April 2nd, Bernard Geymond is appointed Group Vice
    President, Human Resources and Administrative Affairs,
    responsibilities he held until November 2000.

    4. As from April 9th, Alain Marmugi is appointed Vice President,
    Engine Cooling Branch. He was formerly General Manager of the
    Magneti Marelli/Bosch Automotive Lighting joint venture
    headquartered in Germany.

    5. As from April 17th, Vincent Marcel is appointed Group Vice
    President, Financial Affairs and Strategic Operations. He
    joined the Group in 1998 as Director of Strategic Operations.

    6. As from April 26th, Robert Charvier is appointed Director,
    Financial Control, of the Electronic and Electrical
    activities. He was formerly Group Financial Controller.

    7. As from April 26th, Gerard Bouctot is appointed Group
    Financial Controller. He was formerly Director, Financial
    Control, of the Wiper Systems Branch.

    Valeo is an independent industrial Group fully focused on the design, production and sale of components, integrated systems and modules for cars and trucks. Valeo ranks amongst the world's top automotive suppliers. The Group has 175 production sites, 41 R&D centers and 10 distribution centers and employs 75,000 people in 25 countries worldwide.

    For more information on the Group and its businesses, please consult our Web site: www.valeo.com