Porsche Makes a Profit of 1,088 Billion Euro; Profit Will Mean Higher Dividend for Porsche Shareholders

ATLANTA--Nov. 1, 20045, 2004--Dr. Ing. H.c. F. Porsche AG of Stuttgart, Germany, parent company of Porsche Cars North America(PCNA), announced the highest profit in its corporate history during the 2003/04 fiscal year which closed on July 31, in spite of the difficult economic climate. At today's meeting of the Supervisory Board, the Group's pre-tax result of 1,088 billion Euros was announced. This figure exceeds the previous fiscal year's result of 933 million Euros by 16.6 percent. The Group's surplus for the fiscal year (after-tax result) was increased by 8.3 percent to 612 million Euros, compared with 565 million Euros for the previous year.

In contrast to the Group, pre-tax results for Porsche AG went down to 843 million Euros compared with 1,042 billion Euros in the previous fiscal year (minus 19.1 percent). A determining factor for this downturn was the decision for the Group's subsidiary companies to transfer lower profits. In addition, the increase in Cayenne stocks within the Group, which was necessary in the course of the previous year's launch, led to profits for Porsche AG that were not registered in the year under review. Porsche AG's surplus for the year amounted to 488 million Euros, compared with 660 million Euros in the previous year (down by 26.1 percent).

At the shareholders' general meeting in Stuttgart on January 28, 2005, the recommendation will be to pay common-stock holders a dividend of 3.94 Euros per share for the 2003/04 fiscal year. Preferred-stock holders will receive a dividend of 4.00 Euros. The sum of 69.5 million Euros to be distributed as dividends will exceed the previous year's total (59 million Euros) by 17.8 percent. For the 2002/03 fiscal year, dividends of 3.34 Euros per share of common stock and 3.40 Euros per share of preferred stock were paid. The shareholders' general meeting will be asked to approve the remaining allocation of approximately 174.5 million Euros for 2003/04 as retained earnings.

The success of the Porsche Cayenne enabled Porsche to expand its business substantially in the 2003/04 fiscal year. Group sales rose by 15 percent to 76,827 vehicles and turnover by 13.9 percent to 6.36 billion Euros. Porsche is optimistic for the current 2004/05 fiscal year. The Cayenne has maintained its popularity and the company is confident that the new-generation 911 and Boxster that are being introduced to the market in the summer, will lend additional impetus to Porsche's sports car business.

PCNA, based in Atlanta, Ga., is the exclusive importer of Porsche cars for the United States. A wholly owned subsidiary of Dr. Ing. h. c. F. Porsche AG, PCNA employs some 200 people who provide Porsche vehicles, parts, marketing and training for its 205 dealers in North America. They, in turn, provide Porsche owners with best-in-class service.