Porsche Supports Construction of a New Building for the John Cranko School with a Contribution of Ten Million Euro

PR55294

STUTTGART, Germany, Dec. 12, 2013/PRN=KYODO JBN/--

   Porsche AG is expanding its sponsorship of cultural activities in Stuttgart

and supporting the construction of a new building for the John Cranko School

over the next four years - with a contribution totalling ten million euro. The

money will be paid in four equal instalments to the "Foundation for the

Promotion of the John Cranko School of the Stuttgart State Theatre of

Baden-Wurttemberg", a legally dependent foundation of the state capital,

Stuttgart. The school is one of the most prestigious ballet schools in the

world. Stuttgart city council is also contributing 16 million euro to the

foundation.

   Lutz Meschke, Chief Financial Officer at Porsche AG, believes that the

recent involvement is simply a logical step: "As the main sponsor of the

Stuttgart State Ballet, we are obviously very interested in working intensively

with young, upcoming talent. After all, this focus forms a vital basis for

maintaining the worldwide reputation of the State Ballet in the long term." For

the city of Stuttgart, the endowment from the sportscar manufacturer represents

a milestone in the process of constructing the new building on the site of the

old school - a project that is set to cost around 45 million euro in total.

Speaking in Stuttgart, Lord Mayor Fritz Kuhn said: "Thanks to its generous

support through this endowment capital, Porsche is proving its extraordinary

commitment to the city of Stuttgart." According to Kuhn, this commitment

guarantees "that Stuttgart will continue to hold great appeal to young dancers

from around the world and that we will be able to consolidate our top

international position in ballet - and go even further." The support is a win

for the city and the region in a number of respects, Lord Mayor Kuhn went on to

say.

   The contribution for the construction of the new building for the John

Cranko School represents a logical step in Porsche's continued sponsorship of

cultural activities.

   Be it as the main sponsor of the Leipzig Gewandhaus, the Leipzig Opera Ball

or, as already mentioned, the Stuttgart State Ballet, Porsche lends its support

to cultural institutions and events with international reputations. "Our

partners stand for tradition, innovation and perfection - but also for

pleasure, dynamism and culture. In doing so, they embody all that makes our own

products so unique," said Lutz Meschke, emphasising the importance of Porsche's

partnerships.

   Yet the contribution for the John Cranko School not only fits into Porsche's

concept of cultural sponsorship - it is also further proof that Porsche places

great value on promoting young, upcoming talent. This applies both to Porsche's

cultural sponsorship activities as well as the Porsche sports promotion

programme. According to Lutz Meschke: "Excellence can only be achieved by those

who have received the best training, and it is therefore important for us to

provide as much support to young talents in sport and culture as we do to our

own talents within our company."

   CONTACT: Public Relations and Press

            Corporate Communications

            Achim Schneider

            Telephone +49(0)711-911-27941

            Email achim.schneider@porsche.de

    SOURCE: Porsche AG