Valeo Takes Into Account The AFEP-Medef Recommendations Of 6 October 2008

PARIS, France – December 18, 2008: Following its meeting yesterday, the Valeo Board of Directors indicated that the AFEP-MEDEF recommendations of 6 October 2008 concerning the remuneration of executives who are corporate officers of listed companies are in line with Valeo’s principles of corporate governance.

The Board of Directors decided that the AFEP-MEDEF code modified by these recommendations is the one to which the company will henceforth refer when drawing up the report called for in article L.225-37 of the French Commercial Code.