Valeo: 2010 Combined Annual Meeting of Shareholders

PARIS, June 3, 2010 - Valeo's Combined Annual Shareholders' Meeting was held today
under the chairmanship of Pascal Colombani, Chairman of Valeo.

2009 results and outlook

The shareholders approved the 2009 accounts which were
published on February 24, 2010.

"Valeo has set as its objective for the first half 2010 to
achieve sales of 4.7 billion, a 35% increase versus the first half 2009, and
an operating margin level of close to 6% of sales, the highest half-yearly
level for the past 8 years," said Jacques Aschenbroich, Valeo's Chief
Executive Officer. "I am therefore very confident that we will achieve the
objective for the full year 2010 that we communicated on February 24, which
will be fine-tuned during the presentation of the first half results on July
27, 2010."

By focusing the Group's R&D and investment efforts on
technologies enabling a reduction in vehicle CO2 emissions and on emerging
markets, Valeo intends to return to organic growth and aims to achieve sales
of 10 billion euros in 2013. In addition, by lowering investments in mature
countries and cutting Group overheads, Valeo aims to achieve a return on
capital employed, before restructuring and goodwill, of 30% during the same
period. Strengthened by this return to profitable growth, and as part of the
industrial strategy unanimously approved by the Board and presented to
investors, with the support of appropriate advisors Valeo intends to actively
work to ensure the highest possible value for the Group in a fast evolving
sector.

Renewal and appointment of Board Members

The terms of Board Members Daniel Camus and Jerome Contamine were renewed
and the cooptation of Michel de Fabiani as a Board Member was ratified.
Noelle Lenoir was appointed as a new Board Member. Mrs Lenoir is a lawyer,
Member of the Conseil d'Etat, former Member of the Conseil Constitutionnel
and former Deputy Minister in charge of European Affairs.

Other resolutions

All other resolutions were also adopted, in particular those
involving the approval of agreements benefiting the Chief Executive Officer
and the granting of Valeo shares to employees and corporate officers.

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
the automotive industry, mainly for CO2 emissions reduction. Valeo ranks
among the world's top automotive suppliers. The Group has 118 plants, 21
Research centers, 40 Development centers, 10 distribution platforms and
employs 55,100 people in 27 countries worldwide.

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

For additional information, please contact: Kate Philipps, Valeo Group Communications Director, Tel.: +33-1-40-55-20-65; Thierry Lacorre, Valeo Group Investor Relations Director, Tel.: +33-1-40-20-39