Valeo's Combined Annual General Shareholders' Meeting Notice

Paris (ots/PRNewswire) -
- Appointment of Five New Independent Board Members

The Valeo (OTC: VLEEY) Board of Directors, which met today has
called the Combined Annual General Meeting of Shareholders (AGM) to
be held on May 21, 2007 at 3 pm at the Palais des Congres, Paris
17th.

The Board of Directors will propose to the AGM the appointment of
three new Board Members, the ratification of the co-optation of two
Board Members and the renewal of four current Board Members. If these
nine candidates were to be approved by the shareholders, the Valeo
Board would have eleven Board Members of which nine would be
independent.

The Board will submit for approval by the shareholders the
appointment of the following new Board Members:

Gerard Blanc, Executive Vice President of Operations at Airbus
from 2004 to 2005. He was responsible for all of the European
research centers and facilities as well as for quality and
information systems. He joined Airbus in 1985 after ten years spent
with Aerospatiale Avions.

Pascal Colombani, Associate Director at AT Kearney Paris with
responsibility for innovation, technology and energy since 2003. From
2001 to 2003, he was Chairman of the Supervisory Board of Areva, and
from 1999 to 2001 he was Chairman and Chief Executive Officer of the
French Commission for Atomic Energy. Previously he was Director of
Technology at the Ministry of Research. He began his career at the
French National Center for Scientific Research (CNRS) before joining
Schlumberger where he held a variety of positions until 1997. Pascal
Colombani is an independent board member of British Energy, Alstom,
and Rhodia.

Lord Jay of Ewelme, Permanent Under-Secretary of the United
Kingdom Foreign and Commonwealth Office from 2002 to 2006. In this
role he was Head of the Diplomatic Service. He was British Ambassador
to Paris from 1996 to 2001. He joined the Foreign Office in 1982
having spent twelve years in the Ministry of Overseas Development. In
June 2005 he was in charge, for the British Prime Minister, of the
preparation of the G8 Gleneagles Summit on climate change.

The Board will submit for approval by the shareholders the
ratification of the co-optation of the following two Board Members:

Helle Kristoffersen, Vice President Corporate Strategy with
Alcatel Lucent, a Group within which she has held a variety of
management positions since 1994. She began her career at the Lazard
Investment Bank before joining the management of Bollore
Technologies.

Georges Pauget, Chief Executive Officer of Credit Agricole S.A.
since September 2005. He is Chairman of Cedicam and Uni-Editions and
is also a member of the Executive Committee of the French banking
federation (FBF). Georges Pauget has spent his entire career in the
Credit Agricole Group. The Board has co-opted Georges Pauget as an
independent administrator to replace Yves-Andre Istel who has
resigned.

The Board will submit for approval by the shareholders the
renewal of the four following Board Members:

Pierre-Alain De Smedt, Executive Vice President Industry and
Technology of Renault from 1999 to end 2004 and a member of the
Executive Committee of the Renault Group and of the Renault/Nissan
Alliance Board. In 2006 he also became Chairman of the FEBIAC (the
Belgian Federation of the car industry). He has also been Chairman of
Seat, Chairman of Autolatina, a joint venture between Volkswagen and
Ford, Financial Director of Volkswagen and of Bosch Belgium.
Pierre-Alain De Smedt began his career with Solvay.

Philippe Guedon, Legal Manager of Espace Developpement since 2003.
In 1983 he became Chairman and Chief Executive Officer of Matra
having been Technical Director and Research Engineer. Prior to this
he held different engineering positions with Simca. He is the
inventor of the Matra 530, the Bagheera, the Rancho, the Murena, the
Espace and the Avantime.

Thierry Morin, appointed Chairman and Chief Executive Officer of
Valeo in 2001. He joined Valeo in 1989 as Financial Director of the
Transmissions Branch and subsequently held different positions within
the Group. Prior to joining Valeo, Thierry Morin was Deputy Director
of the ISD Division at Thomson Consumer Electronics in Los Angeles
and also held various financial positions during ten years spent with
Schlumberger.

Erich Spitz, who joined Compagnie Generale de TSF (subsequently
Thomson-CSF) in 1958. He began his career with the company as
Director of the Central Research Laboratory before becoming Research
and Development Director of the Thomson Group from 1983 to 1994. He
is a member of the Academie des Technologies and a correspondent
member of the Academie des Sciences.

Other resolutions to be proposed to the Annual General Meeting

The Board will present to the AGM the payment of a dividend of 1.1
euros per share. Payment of the dividend is planned for June 1, 2007.
Finally, the Board will propose the renewal of the financial
authorisations concerning capital increases with or without preferred
subscription rights as well as the renewal of the authorization to
repurchase the company's shares.

Moreover the Group is continuing to examine all strategic options
and will keep its shareholders informed at the appropriate time of
any development on this issue as necessary.

Valeo is an independent industrial group dedicated to the design,
production and sale of components, integrated systems and modules for
cars and trucks. It is one of the world's leading automotive
suppliers. The Group has 129 production sites, 68 R&D centers, 9
distribution platforms, and employs 69,800 people in 29 countries
worldwide.

For all additional information, please contact:

Kate Philipps, Group Communications Director, Tel:
+33-1-40-55-20-65

Remy Dumoulin, Investor Relations Director, Tel: +33-1-40-55-29-30

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

Contact:
For all additional information, please contact: Kate Philipps, Group
Communications Director, Tel: +33-1-40-55-20-65, Remy Dumoulin,
Investor Relations Director, Tel: +33-1-40-55-29-30