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Valeo Pursues Growth in North America

13 May 1999

Valeo Pursues Growth in North America With $ 30 Million Investment In Auburn Hills Technical Center

    AUBURN HILLS, Mich., May 12 -- Valeo continues to pursue its
strategy for growth in North America with the inauguration last week of the
Group's new Thermal Technology Center in Auburn Hills, Mich.
    Noel Goutard, Valeo Chairman and CEO, commented, "This high-tech facility
is clear proof of Valeo's drive to be a major player in the North American
Market.  The Group's investment in innovative, functional architecture and new
equipment here totals more than $30 million."
    The facility houses 250 engineers and experts all dedicated to thermal
systems technologies for climate control and engine cooling applications.
In its commitment to research and development in the Detroit area and at Valeo
Sylvania's Lighting Systems Center in Seymour, Ind., Valeo employs more than
1,000 design and process engineers in the United States, working closely with
customers to conceive of, develop, and bring to market innovative new products
and systems.
    Valeo realizes nearly 31% of its sales in North America.  The Group
employs more than 13,000 people at its 16 production sites in the United
States and Mexico.  This year, Valeo expects to achieve sales of $2.3 billion
in North America, with a complete range of Valeo products and systems.
    In order to meet its customers' global needs, Valeo will continue to seek
both internal and external opportunities for strategic growth in North and
South America in the coming years.

    Valeo is an independent, industrial group fully focused on the design,
production and sale of components, integrated systems, and modules for cars
and trucks.  The Group serves all major automakers worldwide.  In 1998, Valeo
sales totaled $6.8 billion.  Of that total, 6.3% was spent on research and
development.  Valeo has 115 plants, 29 R&D centers and 12 distribution centers
in 20 countries.  For more information about Valeo and its businesses, please
consult the company's Web site:  http://www.valeo.com .

    CONTACT:  Kim Derderian, +33-01-40-55-20-34, or kim.derderian@valeo.com,
or Chandra Lewis 248-340-8437, or Chandra_Lewis@VESGww.com, both of Valeo.