Valeo’s Board of Directors: Departure of Thierry Morin, Appointment of Jacques Aschenbroich

PARIS - Valeo’s Board of Directors, which met on 20 March 2009, announces the
departure of Thierry Morin who is leaving his post as Chairman and Chief
Executive Officer. This decision comes as a result of strategic differences
and the will of the Board to change the Group’s governance structure.

As from 20 March, Mr. Pascal Colombani will serve as acting
Chairman of the Board and Mr. Jacques Aschenbroich, appointed as a Board
Member, will assume the post of Chief Executive Officer.

The Board paid homage to Thierry Morin who, during his 20 years with the
Group, including eight years as Chairman, worked towards its development and
took the appropriate decisions in time of crisis. In recognition of his
significant contribution to the development of the Group, the Board conferred
on him the title of Honorary Chairman.

Jacques Aschenbroich, born in 1954, “Ingenieur du Corps des Mines”, has
held several posts in the French administration and was in the cabinet of the
Prime Minister in 1987 and 1988. He then had an industrial career in the
Saint Gobain Group, where he managed subsidiaries in Brazil, in Germany and
in the United States. He was president of the glass and high performance
materials activities, and was Deputy Chief Executive Officer of the Compagnie
de Saint Gobain until December 2008.

At the same time, the Board took note of the resignation, previously
communicated, of Mr. Pierre-Alain de Smedt as a Board member.

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 121 plants, 61 R&D centers, 10 distribution centers and employs
51,200 people in 27 countries worldwide.

Source: Valeo Management Services

For all additional information, please contact: Kate Philipps, Group Communications Director, Tel: +33-1-40-55-20-65; Vincent Marcel, Vice-President Financial Affairs, acting, Investor Relations, Tel: +33-1-40-55-37-71