Porsche(R) Celebrates 20 Years of Success in the Equity Markets

ATLANTA, May 4, 2004 -- Today marks the 20th anniversary of Dr. Ing. h.c.F. Porsche AG's initial public stock offering and a significant milestone in the evolution from a small, family-owned business to a large automobile manufacturer with a market capitalization of 9.6 billion Euro and annual revenues of 5.5 billion Euro.

The company's ordinary stock was valued at 1,020 DM per share when issued on May 4, 1984. When converted to Euro and after accounting for the share split three years ago, the figure is approximately 50 Euro. Today's share price is close to 530 Euro, an increase of more than 10 times the original price.

When the Porsche Boxster(R) was launched in 1996, the company's common shares became a favorite of investors and analysts. Investors appreciated Porsche's climbing profitability, which resulted from the restructuring of processes and the introduction of new, attractive products.

Since the beginning of the company's fiscal year, which ends July 31, 2004, the company's stock price has increased on a percentage basis more than the DAX and the German automobile sector index.

Porsche has received several awards for the exceptional growth of its stock value from institutions such as Automotive News Europe magazine, PricewaterhouseCoopers and Standard & Poor's. PricewaterhouseCoopers confirmed last week that, at 119.9 percent, Porsche stock achieved by far the highest total shareholder return (according to stock exchange profits including dividend payments) of any European car manufacturer in the three-year period between of March 31, 2001 and of March 31, 2004.

"If we take a long-term view, our stock performs extremely well," said Dr. Wendelin Wiedeking, Porsche AG president and CEO. "Porsche's thinking has never been based on the short term, from one quarter to the next. We have grown steadily, in terms of both sales and profit. The investment community has acknowledged this strategy as correct, and we are working hard to maintain Porsche's successful progress."

In addition to stock, Porsche has issued bonds on two separate occasions, one totaling 560 million Euro, and the second issued in March 2004, totaling $625 million, which was privately placed in the United States.

Porsche shares trade on the Berlin, Dusseldorf, Frankfurt, Hamburg, Hanover, Munich and Stuttgart stock exchanges. Shareholders have become increasingly international over the years; however, Porsche shares are not available as American Depositary Receipts.

This year also marks the 20th anniversary of Porsche Cars North America, Inc. (PCNA). Based in Atlanta, Ga., PCNA and its subsidiary, Porsche Cars Canada, Ltd., are the exclusive importers of Porsche vehicles for the United States and Canada. A wholly owned, indirect subsidiary of Dr. Ing. h.c.F. Porsche AG, PCNA employs approximately 250 people who provide Porsche vehicles, parts, service, marketing and training for its 204 U.S. and Canadian dealers, who, in turn, provide Porsche owners with best-in-class service.