Wyser-Pratte Management Company, Cycladic Capital and DGB Investments Announce Holding in Valeo SA (FR FP)

Wyser-Pratte Management Company, Cycladic Capital and Douglas G.
Bergeron (DGB) Investments, (the "Investment Group" or the "Group"),
today notified Valeo SA (the "Company") of a concert party holding of
approximately 2.4% of the outstanding shares of Valeo held by funds
which the Investment Group manage.

The Investment Group believes that Valeo's assets are being
under-managed and that there is the potential to significantly
increase shareholder value through a more proactive approach to
restructuring and portfolio management.

Most of the divisions are performing worse than their peers. The
Group calls on management to accelerate the pace of restructuring
among the Company's twelve divisions and eliminate the inefficiencies
in the current structure.

The Group also believes that the research and development process,
organization and pipeline is managed ineffectively and has the scope
to be significantly improved. Further benefits can come from the
consolidation of the production and logistics network, and elimination
of excess overhead costs. The opportunity is there to significantly
increase Valeo's operating margins through a well-implemented
restructuring process.

The Investment Group seeks to bring an immediate halt to any
further acquisitions being contemplated by management, including the
acquisition of Ford's North American heating and air conditioning
plants and/or an acquisition of parts or all of Visteon, until such
time as Valeo management has been able to convince shareholders of the
merits of such acquisitions in the context of a broader strategic
plan.

The Group looks forward to a constructive and meaningful
discussion with management and major shareholders in the near future.

Wyser-Pratte Management Company, based in New York City, is a
value oriented investment fund focused on delivering returns to its
limited partners through active involvement with its investments. Mr.
Wyser-Pratte has been a prominent shareholder activist since 1974 and
has focused on shareholder initiatives to restructure European
companies since 1995.

Cycladic Capital, based in London, is an investment fund that
invests in European companies and seeks, through active engagement, to
crystallize the value inherent in these companies. Cycladic has
successfully worked with senior management and the boards of companies
across Europe to deliver value to shareholders.

DGB Investments, based in San Jose, California, is the
wholly-owned investment vehicle of Douglas G. Bergeron, Chairman, CEO,
and largest individual shareholder of VeriFone Holdings (NYSE: PAY).
DGB Investments has successfully engaged with corporations worldwide
to accelerate operational and competitive improvements to their
businesses. In 2006, Mr. Bergeron was selected by Carl Icahn to his
proposed slate of alternative directors for Time Warner, Inc.