Valeo Joins United Nations' Global Compact Program

PARIS, France, December 4 -- Valeo has joined the United Nations' Global Compact program as part of its commitment to help promote a more sustainable and inclusive global economy.

The Global Compact program is an international initiative set up in 2000 by U.N. Secretary General Kofi Annan. In subscribing to this program, Valeo confirms its undertaking to respect, apply and promote a number of principles in the areas of human rights, labor standards and the environment:

- Human rights: support and respect the protection of internationally proclaimed human rights and ensure that it is not complicit in human rights abuses.

- Labor standards: uphold freedom of association, recognize the right to collective bargaining, condemn the use of child labor and eliminate all forms of forced or compulsory labor and discrimination.

- Environment: support a precautionary approach to environmental challenges, undertake initiatives to promote greater environmental responsibility, and encourage the development and diffusion of environmentally friendly technologies.

"With production sites in 25 countries, our Group will continue to be a major force in the development of the global economy. We are proud to formally support the objectives of this important UN initiative since we recognize that Valeo's long-term success is built on the same fundamental principles that are reflected in the Global Compact," said

Thierry Morin, Chairman & Chief Executive Officer of Valeo.

Through the power of collective action, the Global Compact seeks to advance responsible corporate citizenship so that business can be part of the solution to the challenges of globalization. In this way, the private sector - in partnership with other social agencies - can help realize the Secretary-General's vision of a more sustainable and inclusive global economy.

In 2001, Valeo shares were selected for listing on the FTSE4Good index, an index that selects companies based on their strong business ethics and sustainable development policies.

Valeo is an independent industrial Group that is ranked among the world's top suppliers to the automotive industry. As such, the company believes that by joining the UN's Global Compact it is well placed to apply and promote the Compact's three core principles through its operations which span 25 countries and which employ 67,000 people.

Media contact: Malene Pickles, +33 140 55 2074 Malene.pickles@valeo.com