Valeo

Transaction in Own Shares • Nov 19, 2008

Execution of the agreement for partial management of the share buy-back program

PARIS, France, November 19, 2008 – Valeo has requested the assistance of an Investment Services Provider in order to achieve certain objectives of its Share Buy-back Program, as authorized by the Combined Annual General Shareholders' Meeting of June 20, 2008.

According to the terms of the Contract signed on November 4, 2008, Valeo acquired on November 19, 2008, 911,181 shares at an average price of 13.1697 euros.

These shares will be allocated to cover the implementation of any stock option purchase plan, the allotment of shares to employees in respect of their participation in the proceeds of the company's expansion and the implantation of any company savings plan.

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 122 production sites, 61 R&D centers, 9 distribution platforms, and employs 59,700 people in 28 countries.

For all additional information, please contact: Rémy Dumoulin, Investor Relations, Tel: +33 1 40 55 29 30

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