Porsche Cars North America Announces New General Counsel

Joe Folz Brings Wealth of Automotive Experience

ATLANTA, Aug. 19, 2010; Porsche today announced the appointment of Joseph S. Folz as General Counsel of Porsche Cars North America (PCNA), headquartered in Atlanta. In his role, Folz will lead PCNA's legal department and serve as Corporate Secretary, reporting directly to the President and CEO of PCNA, Detlev von Platen.

Folz, who officially started his new position last month, comes to PCNA from the Automotive Practice Group of Chicago law firm of Barack Ferrazzano Kirschbaum and Nagelberg, where he spent the past two years counseling several vehicle manufacturers on franchise, distribution, and trade regulation law.

Prior to that Folz had been Executive Vice President, Corporate Relations, General Counsel and Secretary of Volkswagen Group of America. During his 29-year tenure with the VW Group, Folz not only led the legal department but also oversaw government relations, product liaison, vehicle regulations, aviation, and corporate diversity initiatives.

Folz began his career at General Motors. He holds a law degree from The University of Michigan Law School and an undergraduate degree in Economics and Business Administration from Kalamazoo College. He and his wife, Ellen, have two children and will relocate to Atlanta in the near future.

About Porsche Cars North America, Inc.

Porsche Cars North America, Inc. (PCNA), based in Atlanta, Ga., is the exclusive importer of Porsche vehicles for the United States. It is a wholly owned, indirect subsidiary of Dr. Ing.h.c. F. Porsche AG. PCNA employs 213 people who provide Porsche vehicles, parts, service, marketing and training for its 199 dealers. The dealers, in turn, provide Porsche owners with best-in-class service. Throughout its 61-year history, Porsche has developed numerous technologies that have advanced vehicle performance, improved safety and spurred environmental innovations within the automotive industry. The company continues to celebrate its heritage by adding to its long list of motorsports victories dating back to its first 24 Hours of Le Mans class win in 1951. Today, with more than 28,000 victories, Porsche is recognized as the world's most successful brand in sports car racing. PCNA, which imports the iconic 911 series, the highly acclaimed Boxster and Cayman mid-engine sports cars, high-end Cayenne sport utility vehicles and the four-passenger Panamera Gran Turismos, strives to maintain a standard of excellence, commitment and distinction synonymous with its brand.