Porsche Cars North America, Inc. (PCNA) announced today its parent company, Porsche AG, unveiled a prototype of its ultimate super sports car, the Carrera GT, at a pre-dawn ceremony at the Louvre Museum. It is anticipated if the Carrera GT, currently in test-phase, goes into production it will be introduced to the market in 2003.

The Carrera GT, an open cockpit super car, features a mid-engine naturally aspirated V-10 with a displacement of 5.5 liters. The roadster design will have a top track speed in excess of 200 miles per hour, 0-60 mph acceleration under four seconds, a carbon-fiber chassis, inboard suspension and will be equipped with Porsche Ceramic Composite Brakes.

"We're thrilled with the creation and potential development of this super sports car", stated Fred Schwab, president and CEO of PCNA. "Unlike the previous ultra exotic Porsche 959, the Carrera GT, if produced, will be available in the North American market. There is a strong demand for a vehicle of this type, and if it goes into production I'm convinced the market will prove us right."

Although the economy remains strong, many automakers are seeing their sales slow, but not the fiercely independent Porsche. Sales of Porsche models continue to grow; calendar year-to-date sales in the U.S. are up 10 percent over last year and in Canada the sales are up 28 percent. "Consumers are taking advantage of the vitality of the economy to purchase the Porsche they always wanted," Schwab noted. "I believe this new super car will entice them further."

Porsche indicated the Carrera GT unveiled today will be almost exactly what consumers would see in 2003. Anticipated pricing of the car will be between (US) $350,000 and $400,000, and if the Carrera GT goes into production, a minimum of 500 cars will be built. "If we proceed with this sports car, what you see in the exterior styling today closely represents what you would see in the full-production vehicle," commented Harm Lagaay, head of design for Porsche AG.

During today's introduction of the Carrera GT, Porsche officials dispelled rumors its LeMans inspired engine will be used in its upcoming sport utility vehicle, Cayenne, due to be introduced in 2002. Porsche officials also noted the Carrera GT is "pure racing technology" developed for everyday use.

Porsche Cars North America, Inc., based in Atlanta, Ga., is the exclusive importer of Porsche cars for the United States. A wholly owned subsidiary of Dr. Ing. h.c. F. Porsche AG, PCNA employs some 220 people who provide Porsche vehicles, parts, marketing and training for its 205 dealers in the US and Canada. They, in turn, provide Porsche owners with best-in-class service. Stuttgart-based Dr. Ing. h.c. F. Porsche AG, though the smallest of vehicle manufacturers, remains independent. It does so by engineering the most exciting automobiles available and by providing engineering solutions for other vehicle manufacturers through its Research and Development facility in Weissach, Germany.