Porsche Profit to Exceed One Billion Euro for the First Time; Sales, Revenue and Profit are up Again in the 2003/04 Fiscal Year

ATLANTA--Sept. 22, 2004--Dr. Ing. h.c. F. Porsche AG of Stuttgart, Germany announced today it substantially increased sales and revenue while turning new record profits in the 2003/04 fiscal year, which ended July 31, 2004.

At the opening of the Paris Motor Show, Porsche President and CEO Dr. Wendelin Wiedeking said, "Our pre-tax profit will exceed the one-billion threshold thanks to our consistent growth course, strict cost discipline and continuous increases in efficiency." Profit details will not be released until final figures have been determined by the Porsche Supervisory Board in November 2004.

According to preliminary figures, the Porsche Group's revenue increased by 13.9 percent to approximately 6.35 billion Euro (5.58 billion Euro in the previous year). Porsche's sales increased by 15 percent to 76,827 units (66,803 in the previous year). This was primarily due to the outstanding success of the Cayenne(R) sport utility vehicle. Porsche sold 39,913 units of its SUV, almost twice the previous year's figure (20,603). Sales of Porsche sports cars, for life cycle reasons, decreased by 20.6 percent to 36,692 units (46,200 units in the previous year). Of the 911(R) series, 23,704 units were sold, 14.7 percent fewer than in the previous year (27,789 units). With 12,988 units sold, the Boxster(R) series recorded a 29.5 percent decrease in sales. Porsche sold 222 Carrera(R) GT high-performance sports cars in its first year.

Production rose by 11.3 percent compared to the previous year (73,284 units), to 81,531 units. Manufactured vehicles exceeded the sales volume because numerous new-generation 911s were built in advance for the worldwide market launch at the end of the fiscal year. Production of the 911 decreased by 9.9 percent to 26,650 units, compared with 29,571 units in the previous year, while production of the Boxster model line decreased by 28.3 percent to 13,462 units compared to 18,788 units in the previous year. Of this total, 8,862 units (18,031 in the previous year) were built in Finland. Porsche's Leipzig plant produced 41,149 Cayenne and 270 Carrera GT models.

Despite uncertainties in the global economy, Porsche has an optimistic outlook for the 2004/05 fiscal year. Demand for the two new 911 models launched in July 2004 in Europe is very high. The new Boxster generation makes its world premiere at the Paris Motor Show and will go on sale November 27 in Europe. (January 15 in North America.) Porsche's revised mid-engined sports car will offer greater driving pleasure at a significantly improved price/performance ratio. Demand for the Cayenne model line is expected to increase as a result of an individualization program also presented at the Paris Motor Show. Beginning in December, the Cayenne Turbo will be available with power output boosted to 368 kW (500 hp). Other features include a new Panorama Roof System - available on all Cayenne models - with an opening area four times larger than that of the regular sliding roof and a choice of many different roof positions. A rearview camera is also available.

With the enhanced appeal of its products, the company expects to record further growth in the current fiscal year.

Porsche Cars North America, Inc. (PCNA), based in Atlanta, Ga., and its subsidiary, Porsche Cars Canada, Ltd., are the exclusive importers of Porsche sports cars and Cayenne sport utility 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 203 U.S. and Canadian dealers. They, in turn, provide Porsche owners with best-in-class service.