Shock absorber

A shock absorber (10) comprising an outer tube (12); an inner tube (14) positioned inside the outer tube; a rod guide (22) closing one end (26,30) of the inner tube and the outer tube; a compensation valve assembly (20) closing the other end (24) of the inner tube; the other end (28) of the outer tube being closed; a piston assembly (16) slidably sealably positioned inside the inner tube and dividing the inner tube into a rebound chamber (36) and a compression chamber (38); a piston rod (18) connected to the piston assembly and extending through the rebound chamber and the rod guide; a compensation chamber (40) formed between the inner tube and the outer tube; and a damping valve (50) covering an aperture through the inner tube from the compression chamber, the damping valve being actuable by differential pressure above a predetermined level to allow flow of fluid in one direction only from the compression chamber through the aperture to the compensation chamber. Improved damping characteristics at slow speed damping.