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Porsche Engineering Services Names New President For North America

9 February 1999

Porsche Engineering Services Names New President For North America

    ATLANTA, Feb. 9 -- The Executive Board of Dr. Ing. H. c. F.
Porsche AG in Stuttgart, Germany, has announced the appointment of August
Hofbauer to the position of President and Chief Executive Officer of Porsche
Engineering Services, Inc. in Troy, Michigan, effective Jan. 1, 1999.
    Hofbauer, 41, has served as Chief Engineer and acting CEO of Porsche
Engineering Services in the United States since June of 1996. Previously, he
was Program Manager for Customer-Related Projects at Porsche AG in Germany,
and a member of the Engine Development Group at Porsche's Research and
Development Center in Weissach, Germany.
    Porsche Engineering Services opened its U.S. office in 1991. It offers
unique design and engineering expertise requested by both OEMs and their tier
suppliers. As a 100 percent owned subsidiary of Porsche AG, it can draw on the
vast knowledge base developed at the Weissach R&D Center to support customers'
international requirements.
    Porsche Engineering Services has established a reputation as a specialist
in the development of advanced-vehicle concepts and body systems. Along with
the automotive industry, it has extensive programs supporting the OEM heavy
truck market as well as the tier one and tier two customer base.