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Manfred Ayasse hands over management to Frank Gaube as of May 1, 2006Personnel changes in the Financial Press and Investor Relations department at Porsche AG

Stuttgart. Since April 1996, he has been the mouthpiece of the Porsche Press department for financial journalists all over the world. However, for years analysts, investors and shareholders have also held him in high esteem as a competent, credible and congenial contact in matters of figures, accounts and forecasts from the Porsche Group. Now the “Head of the Financial Press and Investor Relations” department at Dr. Ing. h.c. F. Porsche AG, Stuttgart, has decided to take things more easily. As of May 1, 2005, Manfred Ayasse (60) is to retire. His successor has already been determined: Frank Gaube (45), previously responsible for finanical communication at Volkswagen AG in Wolfsburg, is moving to Zuffenhausen as of February 1.

Anton Hunger, Head of Porsche AG Press and Public Relations: “Manfred Ayasse has succeeded in doing something which only few press spokespersons have done – that is characterizing in a decisive way the reputation and presence of a company on the international financial markets with his very own signature. That Porsche enjoys such a good reputation in the financial scene today is the result of his work. He can be extremely proud of what he has achieved. Here at Porsche, we would like to thank him for his contribution. With Frank Gaube, we not have recruited not only trained journalist, but also an experienced and recognized financial expert. We have every reason to be pleased about his arrival.”

Before Ayasse moved to the Stuttgart-based automobile manufacturer, he headed the Press department at Allianz Lebensversicherungs-AG in Stuttgart for 20 years. From 1973 to 1975 the business graduate and father of two children was Business Editor at Stuttgarter Zeitung. Manfred Ayasse was born on May 7, 1945 in Ötisheim/Württemberg. On May 1, Ayasse will pass the reins to Frank Gaube.

Gaube was an intern at Fränkische Nachrichten in Tauberbischofsheim between 1981 and 1983. He obtained an MA in Politics and Philology at Mannheim University. Between 1993 and 1998 he worked at the vwd business news agency, initially as business editor and New York stock exchange correspondent, later as leading editor and member of the Chief Editorial Team. In 1999 Gaube assumed the management of GFA Gesellschaft für Fondsanalyse mbh in Eschborn. He then moved as Unit Head and Chief Editor to FAZ Electronic Media GmbH, a subsidiary of Frankfurter Allgemeine Zeitung GmbH. Before he took up the offer at Wolfsburg, Gaube headed the financial and business press at Aareal Bank AG in Wiesbaden. He was born on December 29, 1960 in Heidelberg, is married and has one daughter.

However, the change at the top is not the only change in the Finance Press and Investor Relations department. As of March 1 2006, Dr. Immo Dehnert (38) will be the new Head of Corporate Communications at Wüstenrot & Württembergische AG in Stuttgart. Three years ago, Dehnert came from Börsen-Zeitung to Porsche. Here too, the successor has already been named. Frank Scholtys (45), former editor at Stuttgarter Nachrichten and Manager Magazin and already at the Porsche AG Press Department since August 2005 has since begun work in the new department.

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1/5/2006