Porsche supports construction of a new building for the John Cranko School with a contribution of ten million euro

Stuttgart (ots) - 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-
Württemberg", 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."

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Press Contact:
Dr. Ing. h.c. F. Porsche Aktiengesellschaft
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70435 Stuttgart, Germany

Public Relations and Press
Corporate Communications
Achim Schneider
Telephone +49 (0)711 911 - 27941
Email achim.schneider@porsche.de