Porsche concludes mandatory offer

    Term of acceptance for Audi shareholders expired - 0.4 percent of shares

    STUTTGART, Oct. 31 /CNW/ - The term of acceptance for the mandatory offer
from Porsche Automobil Holding SE, Stuttgart, to the shareholders of Audi AG,
Ingolstadt, expired on Monday October 27, 2008. With 176,547 shares, Porsche
was offered approximately 0.4 percent of Audi shares to purchase. The costs of
the acquisition of these shares with a value of around 86 million Euro will be
paid by Porsche SE from its available liquidity.
    On September 16, 2008, Porsche has increased its stake in the Audi parent
company, Volkswagen AG, to 35.14 percent of common stock, thus obtaining de
facto control of the Wolfsburg corporate group. As a result of the altered
distribution of ownership, Porsche was legally obliged to make a formal
mandatory offer for Audi. However, Porsche sees Audi as an integral part of
the Volkswagen Group and therefore did not intend to acquire any Audi stock as
a result of the mandatory offer. The offer was thus based on the legally
permissible minimum price. Porsche has offered Volkswagen AG to purchase the
shares tendered as a result of the mandatory offer.

For further information:

For further information: Laurance Yap, Manager, Public Relations, (905)
219-2195, laurance.yap@porsche.ca

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