Success of Valeo's Public Tender Offer

PARIS, France, June 16 -- Valeo shareholders tendered a total of 66.4 million shares (80% of the outstanding shares excluding treasury stock) for the public tender offer open between 6 May and 3 June for up to 6,250,000 of Valeo's ordinary shares at a price of EUR40 per share (ex-dividend).

24.7 million shares were tendered to the public tender offer to repurchase shares (37% of the total) and 41.7 million shares to the simplified public tender offer (63% of the total). Given the demand, the service rate reached 9.42%.

In accordance with the calendar issued by Euronext on 16 June, settlement and delivery operations will be undertaken from 21 June and all the repurchased shares will be cancelled at the latest on 1 July following the confirmation of the capital reduction to be decided by the Board of Directors on 20 June. The adjusted conversion ratios for the OCEANE will be published by Euronext and in the press on 24 June, 2005.

The Public Tender Offer, decided by the Board of Directors on 7 March 2005, contributes to the improvement of the return to Valeo shareholders. It is in line with the company's strategy to accelerate organic growth and to pursue targeted acquisitions.

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 132 plants, 66 R&D centres, 9 distribution centres and employs 69,500 people in 27 countries worldwide.

Kate Philipps, +33-1-40-55-20-65; Remy Dumoulin, +33-1-40-55-29-30