Source : Amadeus Database (Bureau van Dijk) Update :October, 2009October, 2009

VOLKSWAGEN AKTIENGESELLSCHAFT
(WOLFSBURG, GERMANY)

Berliner Ring 2 Phone : +49 5361 90 Operating revenue/Turnover (2008, mil USD) : 170,592

38440 WOLFSBURG Fax : +49 5361 928282 Net Income (2008, mil USD) : 6,524

GERMANY Date of incorporation : 28/05/1937 Employees (2008) : 348,521

This company is quoted.

BvDEP ID number :

DE2070000543

NACE Rev. 1.1 code :

3410 : Manufacture of motor vehicles

Trade description :

Germany's largest manufacturer of motor vehicles, engines and accessories as well as of technical systems, tools and machinery. There are factories in Wolfsburg, Hannover, Braunschweig, Kassel, Emden, Salzgitter, Zwickau and abroad

Peer Group :


ILLUSTRATION OF THE EVOLUTION OF THREE KEY ITEMS

BALANCE SHEET(mil USD) 31/12/2008 31/12/2007 31/12/2006 31/12/2005 31/12/2004

12 months 12 months 12 months 12 months 12 months

Cons. Cons. Cons. Cons. Cons.

   ASSETS

Current Assets 160,758 150,912 123,462 103,750 112,383

Cash & Equivalents 13,185 14,886 12,336 9,394 13,922

Receivables 8,307 8,378 6,050 6,196 67,054

Other Current Assets 139,266 127,649 105,076 88,160 31,407

Fixed & Other Assets 72,935 63,068 56,444 53,246 60,566

Tangible Fixed Assets 45,940 40,508 37,174 38,654 43,967

Other Assets 26,995 22,560 19,270 14,592 16,599

Total Assets 233,693 213,980 179,906 156,996 172,949

   LIABILITIES

Current Liabilities 76,697 66,038 58,712 54,058 58,133

Accounts Payable 13,466 13,395 10,643 9,855 10,126

Other Current Liabilities 63,230 52,644 48,069 44,202 48,007

Non-Current Liabilities 104,963 100,926 85,689 75,042 82,184

Long Term Debt 50,786 46,459 40,128 38,464 45,703

Other Liabilities 54,177 54,466 45,562 36,578 36,481

Shareholders' Funds 52,033 47,016 35,505 27,896 32,632

Total Liabilites & Shareholders' Funds 233,693 213,980 179,906 156,996 172,949

INCOME STATEMENT(mil USD) 31/12/2008 31/12/2007 31/12/2006 31/12/2005 31/12/2004

12 months 12 months 12 months 12 months 12 months

Cons. Cons. Cons. Cons. Cons.

Operating Revenue / Turnover 170,592 169,131 144,329 116,075 127,253

Cost of Goods Sold -134,455 -136,321 -119,874 -96,421 -106,843

Operating Expenses -27,323 -23,755 -21,810 -16,660 -18,203

Operating Income 8,814 9,055 2,646 2,994 2,207

Financial P/L 383 577 -284 -1,082 -710

Tax -2,672 -3,564 213 -674 -522

Extraordinary & Other Items 0 0 1,047 83 0

Net Income 6,524 6,068 3,622 1,321 975

EMPLOYEES 348,521 320,113 300,102 315,903 343,016

RATIOS 31/12/2008 31/12/2007 31/12/2006 31/12/2005 31/12/2004

Return on Shareholders Funds (%) 17.67 20.49 6.65 6.85 4.59

Return on total assets (%) 3.94 4.50 1.31 1.22 0.87

Return on Capital Employed (%) 7.47 8.15 3.67 3.61 3.38

Profit margin (%) 5.39 5.69 1.64 1.65 1.18

Current Ratio (x) 2.10 2.29 2.10 1.92 1.93

Solvency ratio (%) 22.27 21.97 19.74 17.77 18.87

Shareholders liquidity ratio (%) 0.50 0.47 0.41 0.37 0.40

Assets / Employee (th USD) 671 668 599 497 504

Net Assets Turnover (x) 1.09 1.14 1.19 1.13 1.11

MEDIAN VALUES OF THE PEER GROUP 2008 2007 2006 2005 2004

Operating Revenue / Turnover (th USD) 350,856 351,358 331,258 254,732 287,587

Operating Income (th USD) 6,462 11,821 6,916 3,643 4,387

Net Income (th USD) 1,847 7,356 3,947 1,793 1,738

Return on shareholders funds (%) 12.89 19.44 15.45 12.76 11.98

Return on capital employed (%) 10.77 15.45 11.04 9.81 11.35

ILLUSTRATION OF THE EVOLUTION OF KEY RATIOS

BOARD MEMBERS & OFFICERS

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Name Title

Hans-Dieter P�tsch Member (AG)

Horst Neumann Member (AG)

Francisco Javier Garcia Sanz Member (AG)

Martin Winterkorn Member (AG)

Jochem Heizmann Member (AG)

G�nter Lenz Advisor (AG)

Hans Michael Gaul Advisor (AG)

Elke Eller Advisor (AG)

Olaf Kunz Advisor (AG)

Ferdinand Piech Advisor (AG)

Walter Hirche Advisor (AG)

Christian Wulff Advisor (AG)

Ulrich Ne� Advisor (AG)

Bernd Osterloh Advisor (AG)

Bernd Wehlauer Advisor (AG)

Peter Mosch Advisor (AG)

J�rgen Stumpf Advisor (AG)

J�rgen Peters Advisor (AG)

J�rgen Gro�mann Advisor (AG)

Michael Frenzel Advisor (AG)

Roland Oetker Advisor (AG)

Wendelin Wiedeking Advisor (AG)

Holger Peter H�rter Advisor (AG)

Andreas Blechner Advisor (AG)

Heinrich Pierer von Esch Advisor (AG)

SHAREHOLDERS

BvDEP Independence Indicator: D Help

Current definition of the UO :

path of min 25.01% of control, known shareholders

This is a quoted company.

The companies underlined and displayed in blue - bold are available on Amadeus.

The companies underlined and displayed in dark - bold are available on other BvDEP Databases.

	Shareholder name	Country	Type	Ownership		Source		Company Inform.
	Shareholder name	Country	Type	Direct (%)	Total (%)	Source ident.	Date of inform	Closing Date	Op. Revenue (mil USD)*	Total Assets (mil USD)
Global and Domestic Ultimate Owner (qualification: UO-)
-	FAMILIEN PORSCHE/PIECH	DE	C	-	n.a.	VD	09/2009	n.a.	n.a.	n.a.

Shareholders
1.	PORSCHE AUTOMOBIL HOLDING SE	DE	C	50.76	n.a.	OS	01/2009	><	43,009	71,150
2.	LAND NIEDERSACHSEN	DE	S	20.00	n.a.	VC	06/2009	-	-	-
3.	HANNOVERSCHE BETEILIGUNGSGESELLSCHAFT MIT BESCHR�NKTER HAFTUNG	DE	C	5.80	n.a.	VC	08/2009	><	<0.5	5,222
4.	GOVERNMENT OF QATAR via its funds	QA	S	-	5.41	FS	09/2009	-	-	-
5.	CREDIT SUISSE GROUP via its funds	CH	B	-	4.45	FS	09/2009	><	6,609	1,100,263
6.	DEUTSCHE BANK AG via its funds	DE	B	-	0.83	FS	08/2009	><	16,365	3,065,111
7.	ALLIANZ SE via its funds	DE	A	-	0.60	FS	08/2009	><	92,090	1,309,557
8.	BARCLAYS PLC via its funds	GB	B	-	0.54	FS	09/2009	><	31,273	2,992,835
9.	SOCI�T� G�N�RALE via its funds	FR	B	-	0.54	FS	06/2009	><	29,556	1,572,624
10.	UNION ASSET MANAGEMENT HOLDING AG via its funds	DE	B	-	0.37	FS	07/2009	><	900	2,817
11.	GOVERNMENT OF NORWAY via its funds	NO	S	-	0.29	FS	12/2008	-	-	-
12.	BPCE via its funds	FR	B	-	0.23	FS	06/2009	><	22,966	1,591,421
13.	VANGUARD GROUP, INC. THE via its funds	US	E	-	0.15	FS	07/2009	><	n.a.	n.a.
14.	DEKABANK DEUTSCHE GIROZENTRALE via its funds	DE	B	-	0.13	FS	07/2009	><	2,390	192,902
15.	STATE STREET CORPORATION via its funds	US	B	-	0.11	FS	08/2009	><	10,675	173,631
16.	AXA via its funds	FR	A	-	0.10	FS	06/2009	><	117,824	920,986

* For an insurance company the corresponding value is the Gross Premium Written and for a bank it is the Operating Income (memo).

SUBSIDIARIES (Roll-up structure)

Current definition of the UO :

path of min 25.01% of control, known shareholders

Filters :

No filter

The companies underlined and displayed in blue - bold are available on Amadeus.

The companies underlined and displayed in dark - bold are available on other BvDEP Databases.

	Subsidiary name	Coun- try	Ownership				Source		Company Inform.
	Subsidiary name	Coun- try	Direct (%)	Total (%)	Level of own.	Status	Source ident.	Date of inform	Closing Date	Op. Revenue (mil USD)*	Total Assets (mil USD)
1.	AUTOHAUS STAAMANN GMBH & CO KG	DE	100.00	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
2.	AUTOMOBILMANUFAKTUR DRESDEN GMBH	DE	100.00	100.00	1	-	VC	08/2009	><	n.a.	n.a.
3.	AUTOSTADT GMBH	DE	100.00	100.00	1	-	VC	04/2009	><	212	37
4.	AUTOVISION GMBH	DE	100.00	100.00	1	-	VC	08/2009	><	481	n.a.
5.	GROUPE VOLKSWAGEN FRANCE SA	FR	100.00	100.00	1	-	SC	08/2009	=	7,595	2,564
6.	HAHN + LANG AUTOMOBILE VERWALTUNGS-GMBH	DE	100.00	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
7.	HAMLIN SERVICES INC	US	100.00	100.00	1	-	RM	12/2007	><	<0.5	n.a.
8.	HOLAD HOLDING & ADMINISTRATION AG IN LIQ.	CH	100.00	100.00	1	-	RM	12/2007	=	n.a.	n.a.
9.	ISIM INTERNATIONAL SCHOOL OF INTEGRATED MANAGEMENT GMBH	DE	100.00	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
10.	KUNDEN CLUB GMBH DES VOLKSWAGEN-KONZERNS	DE	100.00	100.00	1	-	VC	08/2009	=	20	14
11.	MMI MARKETING MANAGEMENT INSTITUT GESELLSCHAFT MIT BESCHR�NKTER HAFTUNG	DE	100.00	100.00	1	-	VC	08/2009	=	10	7
12.	SEAT SA	ES	100.00	100.00	1	-	IN	06/2009	><	8,771	7,447
13.	SITECH SP. Z O.O.	PL	100.00	100.00	1	-	IR	06/2009	><	363	253
14.	VAG HOLDING FINANCIERE	FR	100.00	100.00	1	-	SC	08/2009	=	n.a.	260
15.	VOLKSWAGEN LEASING SA DE CV	MX	100.00	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
16.	VOLKSWAGEN (CHINA) INVESTMENT COMPANY LIMITED	CN	100.00	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
17.	VOLKSWAGEN COACHING GESELLSCHAFT MIT BESCHR�NKTER HAFTUNG	DE	100.00	100.00	1	-	VC	08/2009	=	199	30
18.	VOLKSWAGEN FINANCIAL SERVICES AG	DE	100.00	100.00	1	-	VC	08/2009	><	2,672	79,715
19.	VOLKSWAGEN GEBRAUCHTFAHRZEUGHANDELS- UND SERVICE GMBH	DE	100.00	100.00	1	-	VC	08/2009	><	546	158
20.	VOLKSWAGEN GEWERBEGRUND GMBH	DE	100.00	100.00	1	-	VC	08/2009	=	75	439
21.	VOLKSWAGEN GROUP AUSTRALIA PTY LTD	AU	100.00	100.00	1	-	IW	04/2009	><	868	293
22.	VOLKSWAGEN GROUP MALAYSIA SDN, BHD	MY	100.00	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
23.	VOLKSWAGEN GROUP OF AMERICA, INC	US	100.00	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
24.	VOLKSWAGEN LOGISTICS GMBH	DE	100.00	100.00	1	-	VC	02/2009	=	<0.5	<0.5
25.	VOLKSWAGEN MOTOR POLSKA SP. Z O.O.	PL	100.00	100.00	1	-	IR	01/2009	=	1,162	274
26.	VOLKSWAGEN OF SOUTH AFRICA (PTY) LTD	ZA	100.00	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
27.	VOLKSWAGEN POZNAN SP. Z O.O.	PL	100.00	100.00	1	-	IR	01/2009	=	2,688	1,041
28.	VOLKSWAGEN PROCUREMENT SERVICE GMBH	DE	100.00	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
29.	VOLKSWAGEN RETAIL GMBH	DE	100.00	100.00	1	-	VC	08/2009	=	n.a.	n.a.
30.	VOLKSWAGEN SACHSEN GMBH	DE	100.00	100.00	1	-	VC	08/2009	=	6,123	n.a.
31.	VOLKSWAGEN SACHSEN IMMOBILIENVERWALTUNGS GMBH	DE	100.00	100.00	1	-	VC	08/2009	><	33	n.a.
32.	VOLKSWAGEN VERTRIEBSBETREUUNGSGESELLSCHAFT MBH	DE	100.00	100.00	1	-	VC	08/2009	=	93	14
33.	VOLKSWAGEN ZUBEH�R GMBH	DE	100.00	100.00	1	-	VC	08/2009	><	n.a.	121
34.	VW KRAFTWERK GESELLSCHAFT MIT BESCHR�NKTER HAFTUNG	DE	100.00	100.00	1	-	VC	08/2009	><	765	319
35.	AUDI BRUSSELS	BE	99.99	100.00	1	-	RM	12/2007	=	1,572	700
36.	GLOBAL AUTOMOTIVE C.V.	NL	99.99	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
37.	VOLKSWAGEN PARTICIPACOES LTDA	BR	99.96	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
38.	VOLKSWAGEN INVESTMENT LTD PARNETSHIP	KY	99.90	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
39.	VOLKSWAGEN GROUP SALES INDIA PRIVATE LIMITED	IN	91.00	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
40.	VOLKSWAGEN INDIA PRIVATE LIMITED	IN	91.00	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
41.	OOO VOLKSWAGEN RUS	RU	62.50	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
42.	VOLKSWAGEN GROUP SINGAPORE PTE LTD	SG	51.00	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
43.	AUTOEUROPA-AUTOMOVEIS LDA	PT	50.00	100.00	1	-	RM	12/2007	><	2,448	845
44.	1998 LTD	US	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
45.	A-VISION - PRESTA�AO DE SERVI�OS A INDUSTRIA AUTOMOVEL, UNIPESSOAL LDA	PT	-	100.00	1	-	RM	12/2007	><	8	3
46.	APOLO ADMINISTRADORA DE BENS S/C LTDA.	BR	-	100.00	1	-	RM	12/2007	><	n.a.	n.a.
47.	AUDI AKADEMIA HUNGARIA KFT	HU	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
48.	AUDI AKADEMIE GMBH	DE	-	100.00	1	-	RM	12/2007	><	n.a.	12
49.	AUDI AUSTRALIA PTY LIMITED	AU	-	100.00	1	-	RM	12/2007	><	333	164
50.	AUDI AUSTRALIA RETAIL OPERATIONS PTY LTD	AU	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
51.	AUDI BRASIL DISTRIBUIDORA DE VEICULOS LTDA	BR	-	100.00	1	-	RM	12/2007	><	n.a.	n.a.
52.	AUDI DO BRASIL & COMPANHIA.	BR	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
53.	AUDI ELECTRONICS VENTURE GMBH	DE	-	100.00	1	-	RM	12/2007	=	n.a.	28
54.	AUDI HUNGARIA MOTOR KORL�TOLT FELEL�SS�G� T�RSAS�G	HU	-	100.00	1	-	RM	12/2007	><	8,687	6,434
55.	AUDI IMMOBILIEN GMBH & CO. KG	DE	-	100.00	1	-	RM	12/2007	=	n.a.	3
56.	AUDI JAPAN KK	JP	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
57.	AUDI JAPAN SALES KK	JP	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
58.	AUDI REAL ESTATE S.L.	ES	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
59.	AUDI TOOLING BARCELONA SL.	ES	-	100.00	1	-	RM	12/2007	><	31	43
60.	AUDI VOLKSWAGEN KOREA CO.,LTD.	KR	-	100.00	1	-	RM	12/2007	><	368	212
61.	AUDI VOLKSWAGEN MIDDLE EAST FZE	AE	-	100.00	1	-	RM	12/2007	><	46	n.a.
62.	AUDI ZENTRUM BERLIN GMBH	DE	-	100.00	1	-	RM	12/2007	><	n.a.	<0.5
63.	AUDI ZENTRUM BERLIN-CHARLOTTENBURG GMBH & CO. KG	DE	-	100.00	1	-	RM	12/2007	><	95	163
64.	AUDI ZENTRUM FRANKFURT GMBH	DE	-	100.00	1	-	RM	12/2007	=	n.a.	n.a.
65.	AUDI ZENTRUM HAMBURG GMBH	DE	-	100.00	1	-	RM	12/2007	=	150	n.a.
66.	AUDI ZENTRUM STUTTGART GMBH & CO. KG	DE	-	100.00	1	-	RM	12/2007	><	150	37
67.	AUDI ZENTRUM STUTTGART VERWALTUNGS-GMBH	DE	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
68.	AUTO UNION GMBH	DE	-	100.00	1	-	RM	12/2007	=	n.a.	2
69.	AUTOHAUS STAAMANN VERWALTUNGS GMBH	DE	-	100.00	1	-	RM	12/2007	><	n.a.	<0.5
70.	AUTOMOBILES VILLERS SERVICES SAS	FR	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
71.	AUTOMOBILI LAMBORGHINI AMERICA LLC	US	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
72.	AUTOMOBILI LAMBORGHINI HOLDING S.P.A.	IT	-	100.00	1	-	RM	12/2007	=	21	1,705
73.	AUTOMOTIVE COMPONENTS INTERNATIONAL RUS OOO	RU	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
74.	AUTOVIS�O BRASIL LTDA. - DESENVOLVIMENTO DE NEGOCIOS	BR	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
75.	AUTOVISION	BE	-	100.00	1	-	RM	12/2007	=	16	6
76.	AUTOVIZE S.R.O.	CZ	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
77.	AVG AUTOMOBIL VERTRIEBSGESELLSCHAFT MBH	DE	-	100.00	1	-	RM	12/2007	=	76	32
78.	AZU AUTOTEILE UND -ZUBEHOER VERTRIEBS GMBH	DE	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
79.	BENTLEY INSURANCE SERVICES LIMITED	GB	-	100.00	1	-	RM	12/2007	><	n.a.	<0.5
80.	BENTLEY MOTOR CARS INC	US	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
81.	BENTLEY MOTOR EXPORT SERVICES LIMITED	GB	-	100.00	1	-	RM	12/2007	=	n.a.	<0.5
82.	BENTLEY MOTORS LIMITED	GB	-	100.00	1	-	ST	01/2006	=	1,209	752
83.	BRANDENBURGISCHE AUTOMOBIL-GMBH	DE	-	100.00	1	-	RM	12/2007	><	25	9
84.	CARIVIERA	FR	-	100.00	1	-	RM	12/2007	=	64	24
85.	CARMEQ GMBH	DE	-	100.00	1	-	RM	12/2007	=	32	13
86.	CC WELLCOM GMBH	DE	-	100.00	1	-	RM	12/2007	><	n.a.	2
87.	CENTRE AUTOMOBILE DE LA RIVIERA CAR SAS	FR	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
88.	CENTRE USATO SANGALLO SRL	IT	-	100.00	1	-	AR	12/2007	n.a.	n.a.	n.a.
89.	EDUARD WINTER AUTOMOBILBETRIEBE GMBH & CO. KG	DE	-	100.00	1	-	RM	12/2007	><	184	56
90.	EDUARD WINTER IMPORTAUTO GMBH & CO. KG	DE	-	100.00	1	-	RM	12/2007	><	33	7
91.	EDUARD WINTER IMPORTAUTO VERWALTUNGSGESELLSCHAFT MBH	DE	-	100.00	1	-	RM	12/2007	><	n.a.	<0.5
92.	GROUPE VOLKSWAGEN FRANCE S.A. + CO. OHG (VORMALS: SELBSFAHRER UNION GMBH & CO. KG)	DE	-	100.00	1	-	RM	12/2007	><	n.a.	132
93.	H.J. MULLINER & CO. LIMITED	GB	-	100.00	1	-	RM	12/2007	=	n.a.	<0.5
94.	HAHN + LANG AUTOMOBILE GMBH & CO KG	DE	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
95.	HAHN+LANG AUTOMOBILE GMBH+CO. KG	DE	-	100.00	1	-	OS	12/2006	><	180	66
96.	INIS INTERNATIONAL INSURANCE SERVICE S. R.O., VE ZKRATCE INIS, S.R.O.	CZ	-	100.00	1	-	RM	12/2007	><	1	1
97.	INSTITUTO PARA FORMACI�N Y DESARROLLO VOLKSWAGEN, S.C.	MX	-	100.00	1	-	RM	12/2007	><	n.a.	n.a.
98.	INTERRENT BILUTHYRNING AB	SE	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
99.	KAROSSERIE UND LACKIERZENTRUM POTSDAM GMBH & CO.	DE	-	100.00	1	-	RM	12/2007	><	2	2
100.	KAROSSERIE- UND LACKIERZENTRUM POTSDAM VERWALTUNGS-GMBH	DE	-	100.00	1	-	RM	12/2007	><	<0.5	<0.5
101.	LES CARROSSERIES DU CONCESSIONNAIRE	FR	-	100.00	1	-	RM	12/2007	><	4	1
102.	LIMITED LIABILITY COMPANY VOLKSWAGEN FINANCIAL SERVICES RUS	RU	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
103.	NSU GMBH	DE	-	100.00	1	-	RM	12/2007	=	n.a.	<0.5
104.	PARK WARD & CO.LIMITED	GB	-	100.00	1	-	RM	12/2007	=	n.a.	<0.5
105.	PARK WARD MOTORS INC	US	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
106.	PICARDIE AUTO SERVICES	FR	-	100.00	1	-	RM	12/2007	=	38	16
107.	PUTT ESTATES (PTY) LTD	ZA	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
108.	SEAT CENTER ARRABIDA - AUTOMOVEIS, LDA	PT	-	100.00	1	-	RM	12/2007	><	48	20
109.	SEAT DEUTSCHLAND GMBH	DE	-	100.00	1	-	RM	12/2007	=	943	348
110.	SEAT DEUTSCHLAND NIEDERLASSUNG GMBH	DE	-	100.00	1	-	RM	12/2007	=	73	19
111.	SEAT NORDIC AB	SE	-	100.00	1	-	RM	12/2007	><	36	9
112.	SEAT SAINT-MARTIN	FR	-	100.00	1	-	RM	12/2007	><	18	10
113.	SEAT SPORT S.A.	ES	-	100.00	1	-	RM	12/2007	><	46	23
114.	SERVICES AUTOMOBILES INFORMATISES	FR	-	100.00	1	-	RM	12/2007	><	7	4
115.	SITECH SITZTECHNIK GMBH	DE	-	100.00	1	-	RM	12/2007	=	1,234	151
116.	SKODAAUTO DEUTSCHLAND GMBH	DE	-	100.00	1	-	RM	12/2007	=	2,399	280
117.	SKOFIN, S.R.O.	CZ	-	100.00	1	-	RM	12/2007	=	669	1,264
118.	SOCIETE IMMOBILIERE AUDI SARL	FR	-	100.00	1	-	RM	12/2007	=	n.a.	24
119.	STOP+GO SYSTEMZENTRALE GMBH	DE	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
120.	UNA 152. EQUITY MANAGEMENT GMBH	DE	-	100.00	1	-	RM	12/2007	><	n.a.	n.a.
121.	VEHICLE TRADING INTERNATIONAL (VTI) GMBH	DE	-	100.00	1	-	RM	12/2007	=	n.a.	30
122.	VILLERS SERVICES CENTER	FR	-	100.00	1	-	RM	12/2007	=	87	31
123.	VOLKSPROP HALFWAY HOUSE (PTY) LTD	ZA	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
124.	VOLKSWAGEN AUTOMATIC TRANSMISSION (DAILAN) CO LTD	CN	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
125.	VOLKSWAGEN AUTOMOBILE BERLIN GMBH	DE	-	100.00	1	-	RM	12/2007	><	n.a.	<0.5
126.	VOLKSWAGEN AUTOMOBILE BERLIN-ZEHLENDORF GMBH	DE	-	100.00	1	-	RM	12/2007	><	21	7
127.	VOLKSWAGEN AUTOMOBILE CHEMNITZ GMBH	DE	-	100.00	1	-	RM	12/2007	><	49	28
128.	VOLKSWAGEN AUTOMOBILE LEIPZIG GMBH	DE	-	100.00	1	-	RM	12/2007	=	157	50
129.	VOLKSWAGEN AUTOMOBILE OSTFRIESLAND GMBH	DE	-	100.00	1	-	RM	12/2007	><	83	35
130.	VOLKSWAGEN AUTOMOBILE RHEIN-NECKAR GMBH	DE	-	100.00	1	-	RM	12/2007	><	107	60
131.	VOLKSWAGEN BANK, S.A., INSTITUCI�N DE BANCA M�LTIPLE	MX	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
132.	VOLKSWAGEN DESIGN CENTER POTSDAM GMBH	DE	-	100.00	1	-	RM	12/2007	><	26	10
133.	VOLKSWAGEN FINANCE (CHINA) CO LTD	CN	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
134.	VOLKSWAGEN FINANCE BELGIUM	BE	-	100.00	1	-	RM	12/2007	=	5	873
135.	VOLKSWAGEN FINANCIAL SERVICES (UK) LIMITED	GB	-	100.00	1	-	RM	12/2007	=	441	2,191
136.	VOLKSWAGEN FINANCIAL SERVICES ASIA-PACIFIC PTE LTD	SG	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
137.	VOLKSWAGEN FINANCIAL SERVICES AUSTRALIA LTD	AU	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
138.	VOLKSWAGEN FINANCIAL SERVICES JAPAN KK	JP	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
139.	VOLKSWAGEN FINANCIAL SERVICES N.V.	NL	-	100.00	1	-	RM	12/2007	><	n.a.	2,799
140.	VOLKSWAGEN FINANCIAL SERVICES SINGAPORE PTE LTD	SG	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
141.	VOLKSWAGEN FINANCIAL SERVICES TAIWAN LTD	TW	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
142.	VOLKSWAGEN FINANCNE SLUZBY SLOVENSKO, S.R.O.	SK	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
143.	VOLKSWAGEN FINANS SVERIGE AB	SE	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
144.	VOLKSWAGEN GROUP FINANZ OOO	RU	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
145.	VOLKSWAGEN GROUP MILANO SRL	IT	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
146.	VOLKSWAGEN GROUP PENSION SCHEME TRUSTEE LIMITED	GB	-	100.00	1	-	RM	12/2007	=	n.a.	<0.5
147.	VOLKSWAGEN GROUP SERVICES SA	BE	-	100.00	1	-	PC	04/2009	><	285	7,836
148.	VOLKSWAGEN HOLDING FINANCIERE SA	FR	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
149.	VOLKSWAGEN INSURANCE BROKERS GMBH	DE	-	100.00	1	-	RM	12/2007	><	n.a.	8
150.	VOLKSWAGEN INSURANCE SERVICE (GREAT BRITAIN) LIMITED	GB	-	100.00	1	-	RM	12/2007	><	2	2
151.	VOLKSWAGEN INSURANCE SERVICES CORREDURIA DE SEGUROS S.L.	ES	-	100.00	1	-	RM	12/2007	><	18	11
152.	VOLKSWAGEN KLASSIK GMBH	DE	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
153.	VOLKSWAGEN MOTORSPORT GMBH	DE	-	100.00	1	-	RM	12/2007	><	68	22
154.	VOLKSWAGEN MOTORSPORT VERWALTUNGS GMBH	DE	-	100.00	1	-	RM	12/2007	><	n.a.	n.a.
155.	VOLKSWAGEN RETAIL DIENSTLEISTUNGSGESELLSCHAFT MBH	DE	-	100.00	1	-	RM	12/2007	><	n.a.	<0.5
156.	VOLKSWAGEN RETAIL DIENSTLEISTUNGSGESELLSCHAFT MBH & CO. BETRIEBS-KG	DE	-	100.00	1	-	RM	12/2007	><	5	1
157.	VOLKSWAGEN RETAIL RHEIN-MAIN GMBH	DE	-	100.00	1	-	RM	12/2007	><	253	141
158.	VOLKSWAGEN SERVICIOS DE ADMINISTRACI�N DE PERSONAL, S.A. DE C.V.	MX	-	100.00	1	-	RM	12/2007	><	n.a.	n.a.
159.	VOLKSWAGEN SERVICOS LTDA.	BR	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
160.	VOLKSWAGEN VERSICHERUNGSDIENST AG	CH	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
161.	VOLKSWAGEN ZENTRUM BOCHUM VERWALTUNGSGESELLSCHAFT MBH	DE	-	100.00	1	-	RM	12/2007	><	n.a.	n.a.
162.	VVD VOLKSWAGEN CORRETAGEM DE SEGUROS LTDA.	BR	-	100.00	1	-	RM	12/2007	><	n.a.	n.a.
163.	VWFS REAL ESTATE CORPORATION	JP	-	100.00	1	-	RM	12/2007	><	1	n.a.
164.	VWT PARTICIPACOES LTDA	BR	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
165.	ZAO EVROAVTO	RU	-	100.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
166.	ZENDA DIENSTLEISTUNGEN GMBH	DE	-	100.00	1	-	RM	12/2007	=	23	3
167.	RIVIERA TECHNIC	FR	-	99.99	1	-	RM	12/2007	=	76	25
168.	BUGATTI INTERNATIONAL SA	LU	99.97	n.a.	1	-	VC	11/2008	><	2	n.a.
169.	SOC NOUVELLE LE CHATAIGNIER	FR	-	99.96	1	-	RM	12/2007	><	3	1
170.	AUDI AKTIENGESELLSCHAFT INGOLSTADT	DE	99.55	n.a.	1	-	SE	03/2009	=	49,800	36,262
171.	VOLKSWAGEN GROUP UNITED KINGDOM LIMITED	GB	WO	WO	1	-	JO	07/2009	><	12,444	5,237
172.	VOLKSWAGEN INSURANCE COMPANY LIMITED	IE	WO	WO	1	-	JO	11/2008	><	54	105
173.	VOLKSWAGEN INVESTMENTS LIMITED	IE	WO	WO	1	-	JO	11/2008	n.a.	n.a.	n.a.
174.	NIRA DYNAMICS AB	SE	-	90.69	1	-	RM	12/2007	=	5	8
175.	VFL WOLFSBURG-FU�BALL GMBH	DE	90.00	n.a.	1	-	VC	08/2009	><	82	53
176.	H�NIGSBERG & D�VEL DATENTECHNIK GMBH	DE	-	87.10	1	-	RM	12/2007	><	n.a.	19
177.	WESER-EMS VERTRIEBSGESELLSCHAFT MBH C/O VOLKSWAGEN AG	DE	81.25	n.a.	1	-	VC	08/2009	=	7	15
178.	VOLKSWAGEN BEIJING CENTER CO LTD	CN	-	70.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
179.	SHANGHAI VOLKSWAGEN POWERTRAIN COMPANY LTD	CN	-	60.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
180.	SITECH DONGCHANG AUTOMOTIVE SEATING TECHNOLOGY LTD	CN	-	60.00	1	-	RM	12/2007	><	45	23
181.	VOLKSWAGEN FAW ENGINE (DALIAN) CO LTD	CN	-	60.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
182.	VOLKSWAGEN FAW PLATFORM PARTS CO LTD	CN	-	60.00	1	-	RM	12/2007	><	132	88
183.	VOLKSWAGEN LEASING POLSKA SP. Z O.O.	PL	-	60.00	1	-	RM	12/2007	><	46	429
184.	VOLKSWAGEN PON FINANCIAL SERVICES B.V.	NL	-	60.00	1	-	RM	12/2007	=	354	2,757
185.	VOLKSWAGEN TRANSMISSION (SHANGHAI) CO., LTD.	CN	-	60.00	1	-	RM	12/2007	><	48	61
186.	VVS VERZEKERINGS-SERVICE N.V.	NL	-	60.00	1	-	RM	12/2007	><	17	23
187.	VOLKSWAGEN FINANCNE SLUZBY MAKLERSKA SRO	SK	-	58.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
188.	VOLKSWAGEN SARAJEVO D.O.O	BA	58.00	n.a.	1	-	RM	12/2007	n.a.	n.a.	n.a.
189.	VDF SERVIS HOLDING AS	TR	-	51.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
190.	VOLKSWAGEN DOGUS T�KETICI FINANSMANI AS	TR	-	51.00	1	-	RM	12/2007	><	42	1,333
191.	VOLKSWAGEN IMMOBILIEN SERVICE GMBH	DE	51.00	n.a.	1	-	VC	08/2009	=	23	65
192.	VOLKSWAGEN DE MEXICO, S.A. DE C.V.	MX	MO	n.a.	1	-	DB	05/2009	><	8,841	4,700
193.	VOLKSWAGEN DO BRASIL IND�STRIA DE VE�CULOS AUTOMOTORES LTDA.	BR	MO	n.a.	1	-	DB	12/2008	><	4,729	n.a.
194.	VOLKSWAGEN GROUP CANADA INC	CA	MO	n.a.	1	-	WW	07/2009	><	77	n.a.
195.	VOLKSWAGEN GROUP JAPAN KK	JP	MO	n.a.	1	-	TS	10/2008	><	1,193	n.a.
196.	VOLKSWAGEN GROUP LATIN AM	US	MO	n.a.	1	-	DB	10/2009	><	n.a.	n.a.
197.	VOLKSWAGEN GROUP OF AMERICA, INC.	US	MO	n.a.	1	-	DB	10/2009	><	465	n.a.
198.	VOLKSWAGEN OF AMERICA INC	US	MO	n.a.	1	-	DB	10/2009	><	n.a.	n.a.
199.	AUGUST HORCH MUSEUM ZWICKAU GGMBH	DE	-	50.00	1	-	RM	12/2007	=	n.a.	15
200.	AUTOMEILE AUSSTELLUNGSGESELLSCHAFT M.B.H.	DE	-	50.00	1	-	RM	12/2007	><	n.a.	<0.5
201.	DEUTSCHE AUTOMOBILGES.MIT BESCHR�NKTER HAFTUNGIN LIQUIDATION	DE	50.00	n.a.	1	-	RM	12/2007	><	n.a.	5
202.	FOLKSVAGEN RUS	RU	50.00	n.a.	1	-	CP	10/2009	=	924	1,131
203.	IAV GMBH INGENIEURGESELLSCHAFT AUTO UND VERKEHR	DE	50.00	n.a.	1	-	VC	08/2009	><	438	191
204.	LGI LOGISTIKZENTRUM IM G�TERVERKEHRZENTRUM INGOLSTADT BETREIBERGES. MBH	DE	-	50.00	1	-	RM	12/2007	=	n.a.	108
205.	OBJEKT AUDI ZENTRUM BERLIN -CHARLOTTENBURG VERWALTUNGSGESELLSCHAFT MBH	DE	-	50.00	1	-	RM	12/2007	=	n.a.	<0.5
206.	OBJEKTGESELLSCHAFT AUDI ZENTRUM BERLIN-CHARLOTTENBURG MBH & CO.KG	DE	-	50.00	1	-	RM	12/2007	=	2	8
207.	PMDTECHNOLOGIES GMBH	DE	-	50.00	1	-	RM	12/2007	=	n.a.	10
208.	TAS TVORNICA AUTOMOBILA SARAJEVO D.O.O.	BA	50.00	n.a.	1	-	RM	12/2007	n.a.	n.a.	n.a.
209.	WOLFSBURG AG	DE	50.00	n.a.	1	-	VC	08/2009	><	113	150
210.	VOLKSWAGEN ORIGINAL TEILE LOGISTIK GMBH & CO. KG	DE	49.08	n.a.	1	-	VC	04/2009	><	2,954	n.a.
211.	E4T ELECTRONICS FOR TRANSPORTATION, S.R. O.	CZ	-	49.00	1	-	RM	12/2007	><	3	2
212.	KRUPP MODULOS AUTOMOTIVOS DO BRASIL LTDA.	BR	-	49.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
213.	SKO - ENERGO, S.R.O.	CZ	-	46.00	1	-	RM	12/2007	><	107	29
214.	YONTRAKIT VOLKSWAGEN MARKETING LTD CO	TH	-	45.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
215.	SCANIA AB	SE	41.36	n.a.	1	-	OS	02/2009	=	12,049	14,087
216.	SAIC-VOLKSWAGEN SALES COMPANY LTD	CN	-	40.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
217.	SHANGHAI VOLKSWAGEN AUTOMOTIVE CO., LTD.	CN	40.00	n.a.	1	-	SR	03/2009	><	6,700	3,555
218.	VOLKSWAGEN OF NIGERIA LTD	NG	40.00	n.a.	1	-	RM	12/2007	n.a.	n.a.	n.a.
219.	DEAD SEA MAGNESIUM INC	US	35.00	n.a.	1	-	RM	12/2007	n.a.	n.a.	n.a.
220.	STURUPS BILSERVICE AB	SE	-	33.40	1	-	RM	12/2007	=	1	<0.5
221.	AUTOPORT EMDEN GMBH	DE	-	33.33	1	-	RM	12/2007	><	23	3
222.	TRIO BILSERVICE AB	SE	-	33.33	1	-	RM	12/2007	=	4	5
223.	GVZ ENTWICKLUNGSGESELLSCHAFT WOLFSBURG MBH	DE	-	30.80	1	-	RM	12/2007	n.a.	n.a.	n.a.
224.	GIF GEWERBE- UND INDUSTRIEPARK BAD FRIEDRICHSHALL GMBH	DE	-	30.00	1	-	RM	12/2007	=	3	21
225.	MAN SE	DE	30.00	n.a.	1	-	VC	06/2009	=	21,357	23,004
226.	FAHR- UND SICHERHEITSTRAINING FUS GMBH	DE	-	27.45	1	-	RM	12/2007	><	4	<0.5
227.	FAHRZEUGTEILE SERVICE-ZENTRUM MELLENDORF GES. MIT BESCHR�NKTER HAFTUNG	DE	26.00	n.a.	1	-	VC	08/2009	><	55	32
228.	VW AUDI VERTRIEB GMBH	DE	26.00	n.a.	1	-	RM	12/2007	n.a.	n.a.	n.a.
229.	THEATER DER STADT WOLFSBURG GESELLSCHAFT MIT BESCHR�NKTER HAFTUNG	DE	25.40	n.a.	1	-	VC	04/2009	><	4	<0.5
230.	SERVICIOS ESPECIALES DE VENTA AUTOMORICES SA DE CV	MX	-	25.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
231.	TTTECH COMPUTERTECHNIK AG	AT	-	24.99	1	-	RM	12/2007	=	n.a.	45
232.	EXTESSY AG	DE	-	24.90	1	-	RM	12/2007	><	n.a.	1
233.	LIVINGSOLIDS GMBH	DE	-	24.90	1	-	RM	12/2007	><	1	n.a.
234.	SMART MATERIAL CORP.	US	-	24.90	1	-	RM	12/2007	><	2	n.a.
235.	VOLKSWAGEN ORIGINAL TEILE LOGISTIK BETEILIGUNGS GMBH	DE	23.40	n.a.	1	-	VC	04/2009	><	n.a.	<0.5
236.	ALC AUTO-LACKIER-CENTER GMBH	DE	-	20.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
237.	FAW-VOLKSWAGON AUTOMOBILE CO LTD	CN	20.00	n.a.	1	-	SR	09/2008	><	3,857	3,230
238.	NEULAND WOHNUNGSGESELLSCHAFT MBH	DE	-	20.00	1	-	RM	12/2007	n.a.	n.a.	n.a.
239.	FLUGHAFEN BRAUNSCHWEIG-WOLFSBURG GMBH	DE	17.78	n.a.	1	-	VC	08/2009	><	n.a.	8
240.	GKH - GEMEINSCHAFTSKRAFTWERK HANNOVER GESELLSCHAFT MIT BESCHR�NKTER HAFTUNG	DE	-	15.30	1	-	RM	12/2007	=	145	77
241.	INPRO INNOVATIONSGES. F�R FORTGESCH. PRODUKTIONSSYSTEME I.D. FAHRZEUGINDUSTRIE MBH	DE	14.28	n.a.	1	-	VC	09/2009	=	10	9
242.	PROSTEP AG	DE	10.30	n.a.	1	-	VC	08/2009	><	n.a.	13
243.	NIEDERS�CHSISCHE GESELLSCHAFT ZUR ENDABLAGERUNG VON SONDERABFALL MBH	DE	10.00	n.a.	1	-	VC	08/2009	=	94	33
244.	SKO - ENERGO FIN, S.R.O.	CZ	-	10.00	1	-	RM	12/2007	><	35	146
245.	DEUTSCHE MANAGEMENT-AKADEMIE NIEDERSACHSEN GEMEINN�TZIGE GMBH	DE	5.47	n.a.	1	-	VC	06/2009	><	n.a.	2
246.	ESMT EUROPEAN SCHOOL OF MANAGEMENT AND TECHNOLOGY GMBH	DE	0.98	n.a.	1	-	VC	08/2009	><	20	54
247.	CHOREN INDUSTRIES GMBH	DE	-	n.a.	1	-	OS	10/2007	><	n.a.	145
248.	VOLKSWAGEN AG PREUSSEN ELEKTRA AG OFFENE HANDELSGESELLSCHAFT	DE	-	n.a.	1	-	VC	08/2009	=	41	20
249.	VOLKSWAGEN LOGISTICS GMBH & CO. OHG	DE	-	n.a.	1	-	VC	08/2009	=	2,208	n.a.

* For an insurance company the corresponding value is the Gross Premium Written and for a bank it is the Operating Income (memo).

Berliner Ring 2	Phone :	+49 5361 90	Operating revenue/Turnover (2008, mil USD) :	170,592
38440 WOLFSBURG	Fax :	+49 5361 928282	Net Income (2008, mil USD) :	6,524
GERMANY	Date of incorporation :	28/05/1937	Employees (2008) :	348,521

BALANCE SHEET(mil USD)	31/12/2008	31/12/2007	31/12/2006	31/12/2005	31/12/2004
	12 months	12 months	12 months	12 months	12 months
	Cons.	Cons.	Cons.	Cons.	Cons.
ASSETS
Current Assets	160,758	150,912	123,462	103,750	112,383
Cash & Equivalents	13,185	14,886	12,336	9,394	13,922
Receivables	8,307	8,378	6,050	6,196	67,054
Other Current Assets	139,266	127,649	105,076	88,160	31,407
Fixed & Other Assets	72,935	63,068	56,444	53,246	60,566
Tangible Fixed Assets	45,940	40,508	37,174	38,654	43,967
Other Assets	26,995	22,560	19,270	14,592	16,599
Total Assets	233,693	213,980	179,906	156,996	172,949

LIABILITIES
Current Liabilities	76,697	66,038	58,712	54,058	58,133
Accounts Payable	13,466	13,395	10,643	9,855	10,126
Other Current Liabilities	63,230	52,644	48,069	44,202	48,007
Non-Current Liabilities	104,963	100,926	85,689	75,042	82,184
Long Term Debt	50,786	46,459	40,128	38,464	45,703
Other Liabilities	54,177	54,466	45,562	36,578	36,481
Shareholders' Funds	52,033	47,016	35,505	27,896	32,632
Total Liabilites & Shareholders' Funds	233,693	213,980	179,906	156,996	172,949

INCOME STATEMENT(mil USD)	31/12/2008	31/12/2007	31/12/2006	31/12/2005	31/12/2004
	12 months	12 months	12 months	12 months	12 months
	Cons.	Cons.	Cons.	Cons.	Cons.
Operating Revenue / Turnover	170,592	169,131	144,329	116,075	127,253
Cost of Goods Sold	-134,455	-136,321	-119,874	-96,421	-106,843
Operating Expenses	-27,323	-23,755	-21,810	-16,660	-18,203
Operating Income	8,814	9,055	2,646	2,994	2,207
Financial P/L	383	577	-284	-1,082	-710
Tax	-2,672	-3,564	213	-674	-522
Extraordinary & Other Items	0	0	1,047	83	0
Net Income	6,524	6,068	3,622	1,321	975

EMPLOYEES	348,521	320,113	300,102	315,903	343,016

RATIOS	31/12/2008	31/12/2007	31/12/2006	31/12/2005	31/12/2004
Return on Shareholders Funds (%)	17.67	20.49	6.65	6.85	4.59
Return on total assets (%)	3.94	4.50	1.31	1.22	0.87
Return on Capital Employed (%)	7.47	8.15	3.67	3.61	3.38
Profit margin (%)	5.39	5.69	1.64	1.65	1.18
Current Ratio (x)	2.10	2.29	2.10	1.92	1.93
Solvency ratio (%)	22.27	21.97	19.74	17.77	18.87
Shareholders liquidity ratio (%)	0.50	0.47	0.41	0.37	0.40
Assets / Employee (th USD)	671	668	599	497	504
Net Assets Turnover (x)	1.09	1.14	1.19	1.13	1.11

MEDIAN VALUES OF THE PEER GROUP	2008	2007	2006	2005	2004
Operating Revenue / Turnover (th USD)	350,856	351,358	331,258	254,732	287,587
Operating Income (th USD)	6,462	11,821	6,916	3,643	4,387
Net Income (th USD)	1,847	7,356	3,947	1,793	1,738
Return on shareholders funds (%)	12.89	19.44	15.45	12.76	11.98
Return on capital employed (%)	10.77	15.45	11.04	9.81	11.35


Name		Title

Hans-Dieter P�tsch		Member (AG)
Horst Neumann		Member (AG)
Francisco Javier Garcia Sanz		Member (AG)
Martin Winterkorn		Member (AG)
Jochem Heizmann		Member (AG)
G�nter Lenz		Advisor (AG)
Hans Michael Gaul		Advisor (AG)
Elke Eller		Advisor (AG)
Olaf Kunz		Advisor (AG)
Ferdinand Piech		Advisor (AG)
Walter Hirche		Advisor (AG)
Christian Wulff		Advisor (AG)
Ulrich Ne�		Advisor (AG)
Bernd Osterloh		Advisor (AG)
Bernd Wehlauer		Advisor (AG)
Peter Mosch		Advisor (AG)
J�rgen Stumpf		Advisor (AG)
J�rgen Peters		Advisor (AG)
J�rgen Gro�mann		Advisor (AG)
Michael Frenzel		Advisor (AG)
Roland Oetker		Advisor (AG)
Wendelin Wiedeking		Advisor (AG)
Holger Peter H�rter		Advisor (AG)
Andreas Blechner		Advisor (AG)
Heinrich Pierer von Esch		Advisor (AG)