Valeo Announces Senior Appointments in Strategy, Human Resources and Finance

PARIS, May 25, 2004 -- Valeo today announced five senior executive nominations at Group level.

Vice President Strategy -- Bernard Clapaud is appointed Group Vice President, Strategy. He was previously Vice President, Climate Control Branch. In this newly created post, Bernard Clapaud is responsible for identifying and co-ordinating the strategic initiatives necessary for Valeo's growth strategy.

Vice President Human Resources -- Michel Boulain is appointed Group Vice President, Human Resources. He was previously Human Resources Director for the Electronics and Connective Systems Branch. Bernard Geymond, who was previously Group Vice President for Human Resources and Administrative Affairs, is retiring.

Group Financial Controller -- Xavier Veret is appointed Group Financial Controller. He was previously Chairman's Delegate.

Chairman's Delegate -- Bruno-Roland Bernard is appointed Chairman's Delegate. He was previously Financial Relations Director.

Director, Financial Relations -- Remy Dumoulin is appointed Financial Relations Director. He joins Valeo from Lehman Brothers where he was European Equity Sales Manager. Remy Dumoulin reports to Vincent Marcel, Group Vice- President Financial Affairs and Strategic Operations.

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 centers, 9 distribution centers and employs 68,700 people in 26 countries worldwide.