Valeo Earns General Motors Worldwide Supplier Award

PARIS, France, April 5, 2004; General Motors has awarded Valeo Electrical Systems its coveted Supplier of the Year title for the ninth time since 1992 for its overall business performance in providing GM with starter motors and alternators. The award was presented to Valeo on April 3, in Prague at GM's annual supplier of the year banquet.

"Valeo Electrical Systems is representative of the type of company we want to grow with as we drive to be the best worldwide," said Bo Andersson, Vice President, GM Worldwide Purchasing Production Control & Logistics. "Valeo has a balanced focus on performance and behaviour that supports GM's priorities. They are a role model for all of our suppliers."

Thierry Morin, Valeo Chairman and Chief Executive Officer, said, "We are proud to have received this award which recognises the customer focus, competitive costs and superior quality of Valeo."

The GM Supplier of the Year award began as a global program in 1992. Award-winners are selected by a global team of executives from purchasing, engineering, manufacturing and logistics who base their decisions on supplier performance in quality, service, technology and price. This year, General Motors honoured 77 suppliers for their excellence throughout 2003.

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 129 plants, 65 R&D centres, nine distribution centres and employs 68,200 people in 26 countries worldwide.