Valeo Consolidates Its Lighting Activities in Spain

    PARIS--Dec. 5, 2002--Valeo Illuminacion S.A., a Spanish subsidiary of Valeo (Paris: FR; OTC: VLEEY), today announced a plan to consolidate its lighting activities in Spain in order to ensure the future competitiveness of the business.
    The restructuring will entail the transfer of all production from the plant in Sant Esteve Sesrovires near Barcelona, which employs 261 people, to the facility in Martos, near Jaen in Southern Spain. The facility in Martos currently employs 1,778 people and produces lighting systems. The consolidation will result in the subsequent closure of the Sant Esteve Sesrovires plant.
    Measures will be put in place to facilitate the relocation to Martos of employees who volunteer to do so, or to help them find alternative employment.
    This action is part of Valeo's ongoing restructuring program.

    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 139 plants, 53 R&D centers, 10 distribution centers and employs nearly 71,000 people in 25 countries worldwide.
    For more information on the Group and its businesses, please consult our Web site: www.valeo.com