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Dr. Wolfgang Porsche new Chairman of the Supervisory BoardChange in the Sports Car Manufacturer's Supervisory Board

Stuttgart. In its session today, the Supervisory Board of
Dr. Ing. h.c. F. Porsche AG, Stuttgart, appointed Dr. Wolfgang Porsche (63) to the position of its new Chairman. Dr. Porsche has been a Member of the Supervisory Board since 1978 and in his new position is succeeding Professor Dr. Helmut Sihler (73), who resigned from his office upon the end of the General Meeting at his own request this Friday.

Born in Stuttgart on 10 May 1943, Dr. Porsche studied at the University of Global Trade in Vienna, graduating as an MA in Economics and subsequently taking his doctor’s degree in Trade Science. He is a shareholder of common stock in Porsche AG and holds various offices on a number of Supervisory, Advisory and Administrative Boards.

Professor Dr. Helmut Sihler chaired Porsche's Supervisory Board for
14 years. His resignation from the Board marks "the end of a great era", stated Dr. Wendelin Wiedeking, the President and Chief Executive Officer of Porsche AG, in his speech on the occasion of the General Meeting. Professor Sihler, stated Dr. Wiedeking, was a "stroke of good luck for Porsche" and, through his incredible wealth of experience, his philosophical viewpoints, and diplomatic skills, had contributed decisively to the successful development of the Company. Dr. Wiedeking also added that it had been another stroke of good luck for him personally to work under the guidance of Professor Dr. Sihler: "As a young, inexperienced President and Chief Executive Officer in 1993, I had the unique advantage of being able to work together with you. You are the man who supported me time and again with the right advice and action. I was always able to rely on you – also and particularly when I was going the wrong way."

Hans-Peter Porsche (66) was appointed a Member of the Supervisory Board at today's General Meeting, replacing Professor Dr. Sihler on the Board. Born on 29 November 1940 in Stuttgart as one of Ferry Porsche's four sons, Hans-Peter Porsche completed his studies as an engineer at the Salzburg College of Mechanical Engineering. He then became an assistant to his father in the management of the then company
Dr. Ing. h.c. F. Porsche KG in Stuttgart, taking over management of the Production, Purchasing, Inspection and Construction Divisions of the sports car manufacturer from 1965 – 1971. Together with his brother Ferdinand Ale-xander, Hans-Peter Porsche established Porsche Design Produkte Vertriebsgesellschaft in Salzburg in 1978. Hans-Peter Porsche is a shareholder of common stock in Porsche AG, a shareholding partner in various companies, and holds positions on various Supervisory and Administrative Boards.

After being a Member of Porsche's Supervisory Board for 27 years,
Dr. Walther Zügel (73) also resigned from his office upon the end of this year’s General Meeting. In his statement, Dr. Wiedeking referred to
Dr. Zügel as probably the only banker who might claim to be an essential part of Porsche's solid foundation, "a 'rock' within the Company".
Dr. Zügel, as he was described by Dr. Wiedeking, had always been there for the Company in the most difficult of times, supporting the Company through his good advice and excellent network of contacts.
Professor Dr. Ulrich Lehner (60) was appointed as a new Member of the Supervisory Board replacing Dr. Zügel.

Born on 1 May 1946 in Düsseldorf, Professor Dr. Lehner studied Economic and Mechanical Engineering at Darmstadt Technical University. He then worked as an auditor before joining the Henkel Group in 1981. He has been the Chairman of Management of Henkel KGaA, Düsseldorf, since May 2000.