This Week:

• Supervisory Board Approves New Management For Chrysler Group
  .
• Senior Management Changes Announced at Chrysler Group 

• Massive increase in Porsche profits

• BMW X5 Achieves Best Performance Of Any SUV In Insurance Institute For Highway Safety Offset Crash Test
  .

• "Audi Forum Ingolstadt" almost completed / Official inauguration of the complete area in December / "museum mobile" as the focal point

• DaimlerChrysler, Ford And General Motors Partner To Develop Dealer Infrastructure Guidelines
  .

• GM Argentina Celebrates Production Of 100, 000th Vehicle

• Renault returns to Australia with strong Nissan support
  .

• Hayes Lemmerz International to Supply Crossmembers To Mitsubishi Motor Manufacturing 
  .
• Volkswagen of America, Inc. to Break Ground on New Multi-Million Dollar Parts Distribution Facility in Hazlett, Texas

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News of  November 21, 2000

Massive increase in Porsche profits

Higher dividend for shareholders  

Porsche 911

Photo: Porsche

Stuttgart - Porsche AG Stuttgart earned a considerably higher pre-tax profit in the 1999/2000 business year despite increased development costs for its forthcoming third model line. Today's meeting of the Supervisory Board confirmed the Group's pre-tax result as 848.5 million German Marks (DM), 21.5 percent more than last year (698.2 million DM). The Group's surplus for the year (result after tax) went up to 410.7 million DM compared with 373.3 million DM last year.

At 480.5 million DM Porsche AG also achieved a considerably higher pre-tax result than in the previous year (452.3 million DM). The surplus for the year in this case was 216 million DM compared with 180 million DM last year.

A proposal will be made to the Annual Shareholders' Meeting on January 19th, 2001 that for the 1999/2000 business year (which ended on July 31, 2000), holders of common stock should receive a dividend of 29 DM per share and preferred stock holders a dividend of 30 DM per share. This calls for a total allocation of 51.625 million DM, thus surpassing the figure of 42.875 million DM for the previous year, when common stock holders received a dividend of 24 DM and preferred stock holders one of 25 DM. The Shareholders' Meeting will also be asked to approve retained earnings of 56.375 million DM.

Porsche was able to expand its business considerably during 1999/2000. Group sales rose by 10.9 percent to 48,797 vehicles and sales revenues by 15.4 percent to 7.134 billion DM. The prospects for revenue and profit in the current year are also positive. In the words of Chief Executive Dr. Wendelin Wiedeking: "Demand for our 911 and Boxster model lines is extremely dynamic all over the world. We have therefore not only boosted Turbo output to 4,000 vehicles per year, we will also further increase total output and sales of all Porsche models."

(Nov. 14, 2000)

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