Porsche Automobil Holding SE: Financial year 2008/2009 with expected group earnings before taxes in the amount of up to minus five billion Euro

Porsche Automobil Holding SE / Profit Warning/Miscellaneous

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
----------------------------------------------------------------------

Stuttgart. Porsche Automobil Holding SE, Stuttgart, is in advanced talks on
the sale of the cash settled options with respect to Volkswagen shares to
one or several investors. In the light of the present negotiations a
substantial book capital loss leading to corresponding devaluations on the
balance sheet is to be expected. The first-time full consolidation of the
Volkswagen group results in further negative effects on earnings. As
regards the consolidated financial accounts of Porsche Automobil Holding SE
for the financial year 2008/2009 earnings before taxes in the total amount
of up to minus five billion Euro are anticipated.

Neither the devaluation of the options nor the consequences of the
first-time full consolidation of the Volkswagen group lead to an outflow
of liquidity. The devaluation is in fact without negative effect on the
liquidity. Furthermore, the planned sale would lead to an inflow of cash,
currently serving as cash collateral for the options structure, in a
substantial amount for the company. The expected devaluation has no effect
on the balance sheet approach of the 50.8 percent shareholding of Porsche
Automobil Holding SE in ordinary shares of Volkswagen AG.
29.07.2009 Financial News transmitted by DGAP
----------------------------------------------------------------------

Language: English
Issuer: Porsche Automobil Holding SE
Porscheplatz 1
70435 Stuttgart
Deutschland
Phone: +49 (0)711 911-11000
Fax: +49 (0)711 911-26375
E-mail: info@porsche.de
Internet: www.porsche-se.com
ISIN: DE000PAH0038
WKN: PAH003
Listed: Regulierter Markt in Berlin, Frankfurt (General Standard),
München, Stuttgart; Freiverkehr in Hannover, Düsseldorf,
Hamburg; Terminbörse EUREX

End of News DGAP News-Service

---