Allegations of the former importer in India are without any material substanceStatement of Porsche AG, Germany

Stuttgart. The allegations in the criminal proceeding in which the Court in Jaipur/India has issued the bailable warrants are in the view of Porsche baseless and without any material substance. This case is based on a purely civil dispute brought to court by the former importer of Porsche AG following the ordinary termination of its importer contract by Porsche in 2011.

Both the learned Trial Court and the Honourable High Court of Rajasthan at Jaipur have upheld Porsche's termination of the importer agreement and a subsequent appeal by the former importer to the Honourable Supreme Court of India was also dismissed. With one exception the former importer has exhausted all rights of appeal and the civil litigation is now at an end.

The filing of criminal proceeding is an afterthought and just an attempt by the former importer to open a new - in the view of Porsche's local lawyers inherently frivolous - proceeding against Porsche. According to Porsche's local lawyers said bailable warrants are effectively a form of summons which provides the named individuals with the chance to answer the allegations made in front of the court.

Porsche has the highest regards for the Indian judiciary and is going to - represented by its local lawyers and is taking steps to have the warrants and criminal proceedings quashed within the applicable periods. Porsche's lawyers are confident to be able to demonstrate that the complaint is completely frivolous.

GO

1/17/2013

Further information and pictures for journalists and media representatives can be found on the Porsche press database at http://presse.porsche.de/.

For general enquiries and comments please contact info@porsche.de.

Phone number: +49 (0)711/911-0