DGAP-News: Porsche Automobil Holding SE: Short Sellers Responsible for Extreme Price Movements in Volkswagen

| Source: EQS Group AG EQS Group AG 

Porsche Automobil Holding SE / Mergers & Acquisitions

29.10.2008 

Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Press Release No. 30/08

29 October 2008

Partial Settlement of Hedging Transactions Planned

Short Sellers Responsible for Extreme Price Movements in Volkswagen
Ordinary Shares

Stuttgart. Porsche Automobil Holding SE, Stuttgart, has information that
speculative short sellers have had to buy Volkswagen ordinary shares in
order to fulfil their delivery obligations. In the very recent past, this
resulted in a massive increase in the stock exchange price of the
Volkswagen shares, which at one stage exceeded Euro 1,000 per Volkswagen
ordinary share.

In order to avoid further market distortions and the resulting consequences
for those involved, Porsche SE intends – depending on the state of the
market – to settle hedging transactions in the amount of up to five per
cent of the Volkswagen ordinary shares. This may result in an increase in
the liquidity of the Volkswagen ordinary shares.

Porsche SE denies all responsibility for these market distortions and for
the resulting risks to which the short sellers have exposed themselves.
Porsche wishes to point out that the applicable capital markets law
provisions have been complied with at all times. Porsche has not been
active in the market during this share price movements. Allegations of
price manipulation by Porsche are therefore without any foundation
whatsoever.

Porsche remains committed to its goal of increasing its stake in Volkswagen
to up to 75% and thus intends to continue to acquire Volkswagen ordinary
shares, on and off the stock exchange, at prices which are economically
justifiable.

The German Federal Agency for Financial Services Supervision (BaFin) was
informed by Porsche in advance about the measure being contemplated and its
publication.

K–GO
DGAP 29.10.2008 
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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, Hamburg,
              Düsseldorf; Terminbörse EUREX
End of News                                     DGAP News-Service
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