Transfer Of Responsibility For The Import Business In Ireland

WOLFSBURG/DUBLIN - October 1, 2008 - Today, the responsibility for the import business of Volkswagen, Audi, Skoda and Volkswagen Commercial Vehicles will transfer from O´Flaherty Holdings Ltd. to Volkswagen AG. This transfer is based on an agreement between O´Flaherty Holdings and Volkswagen AG, concluded in January 2007.

Following the appointment of Paul Willis as Managing Director of Volkswagen Group Ireland Ltd. from October 1st 2008 we are pleased to announce the local board of management team;

Paul Burke, Director of Volkswagen Commercial Vehicles

Fintan Knight, Director of Audi

Colin Sheridan, Director of Skoda

Philip Sheridan, Director of Volkswagen Passenger Cars

Andreas Duebler, Director of Group Service

and Wolfgang Weisse, Chief Financial Officer.

To support Fintan Knight, John Hayes is appointed as Deputy Director of Audi.

To support Philip Sheridan, Tom O’ Connor is appointed as Deputy Director of Volkswagen Passenger Cars.

“Our vision for the Group in Ireland is straightforward; first class levels of customer service and satisfaction, development of our individual brand values and expansion of the market shares of our brands. We have a first class team in place at all levels to build on the solid foundations which have been laid over many years” remarked Paul Willis.

Ireland is an increasingly important market for the Volkswagen Group with year to date sales of 31,567 vehicles and a market share of 17.9%.

For Volkswagen AG the transfer of the import business demonstrates a clear commitment to the Irish market which the Volkswagen Group Ireland team aim to develop further in partnership with its retailers and for the benefit of customers.