Valeo Announces a Plan to Merge Its Aftermarket Activities

    PARIS--March 28, 2002--Valeo (Paris: FR; OTC: VLEEY) announced today a plan to merge into a single organization its aftermarket commercial and logistics activities, currently divided between its industrial branches and Valeo Distribution.
    This plan has been submitted for consultation to the Group's European Works Council which will meet on April 4, 2002.
    The proposed new organization will include a reinforced marketing and logistics function and sales divisions specialized by distribution channel. This will enable Valeo to strengthen its position in the aftermarket with an enhanced range of products and services. In 2001, the aftermarket generated 1.6 billion euros in sales for Valeo.

    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 among the world's top automotive suppliers. The Group has 143 plants, 53 R&D centers, 10 distribution centers and employs nearly 70,000 people in 25 countries worldwide (end 2001).
    For more information on the Group and its businesses, consult our website: www.valeo.com