Valeo: 2009 Combined Annual General Shareholders' Meeting

Paris (ots/PRNewswire) - Valeo's Combined Annual General
Shareholders' Meeting (AGM) was held today under the chairmanship of
Pascal Colombani, Chairman of Valeo. The AGM approved the 2008
accounts which were published on February 13, 2009.

The presentation of the Group's results for 2008 and the first
quarter 2009 provided an opportunity for Jacques Aschenbroich, the
new CEO of Valeo, to review the situation of the Group against the
backdrop of the global automotive crisis. The company is fully
mobilized to implement its operational efficiency action plans and
confirms that it is on schedule with the deployment of its headcount
adjustment program.

Moreover, the preventive actions taken with regard to General
Motors and Chrysler should neutralize the impact on Valeo of these
automakers' bankruptcy filings. The Group also confirmed that its
financial liquidity situation is sound. The 1.2 billion euros' worth
of bilateral credit lines had not been drawn upon as of June 9, 2009
and 866 million euros of these lines have already been renegotiated,
in line with the Group's wishes, with a new covenant based on the net
financial debt to EBITDA[1] ratio.

Nearly three months after assuming the position of CEO at Valeo,
Jacques Aschenbroich shared with shareholders his vision regarding
the challenges that the Group must face:

- a technological challenge, to develop cleaner and more
energy-efficient products that respond to the constraints of global
warming;
- a geographical challenge, as automotive industry growth is
expected to be centered in emerging markets;
- a "societal" challenge, in which the automobile's place in
urban societies of the 21st century will have to be defined;
- a sector-based challenge, the current crisis having
triggered a consolidation trend in which Valeo intends to be one of the
leading players.

"Valeo's strategy will enable the Group to take up these
challenges by building on such strengths as its industrial
excellence, its innovation and its presence in high growth potential
countries. With a more efficient organization and a clear strategic
vision, Valeo will be able to return to organic growth and improved
profitability," declared Jacques Aschenbroich.

Resolutions

All of the resolutions recommended by the Board were adopted.
Detail results of the voting on each resolution are available on the
Group's website.

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 122 plants, 61 R&D centers, 10
distribution platforms and employs around 49,000 people in 27
countries worldwide.

For more information about the Group and its activities,
please visit our web site http://www.valeo.com.

[1] Less other income and expenses

ots Originaltext: Valeo Management Services
Im Internet recherchierbar: http://www.presseportal.de

Contact:
For additional information, please contact: Kate Philipps, Group
Communications Director, Tel. : +33-1-40-55-20-65. Thierry Lacorre,
Group Investor Relations Director, Tel.: +33-1-40-55-37-93