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VW SUPERVISORY BOARD MEETING IN WOLFSBURG; BOARD OF MANAGEMENT CHANGES DECIDED UPON; 1992 ANNUAL ACCOUNTS APPROVED

 WOLFSBURG, Germany, March 16 /PRNewswire/ -- At its meeting on March 16, 1993, in Wolfsburg, the Volkswagen AG Supervisory Board decided on the following changes to the Board of Management:
 -- Jose Ignacio Lopez de Arriortua, 52, was appointed to the Board of Management of Volkswagen AG with immediate effect; he is to assume responsibility for the newly created division "Product Optimization and Purchasing."
 -- Dr. Gunter Hartwich, 57, currently member of the Board of Management for "Production and Group Logistics," is leaving the Board but will remain available to the company in an advisory capacity.
 -- Dr. Werner P. Schmidt, 60, currently a member of the Board of Management with responsibility for "Overseas Operations and Sales Strategy," is to head the "Controlling and Finance" division from now on. The "Overseas Operations" division is to be regionalized.
 -- Dieter Ullsperger, 47, until now responsible for the "Controlling and Finance" division, is leaving the company by mutual agreement as a consequence of differences of opinion regarding future business policy.
 -- Prof. Dr. Ulrich Seiffert, 51, previously responsible for "Research and Development, Group Purchasing Strategy and Coordination" on the Volkswagen AG Board of Management, is leaving this Board but will remain in charge of the "Research and Development" division on the Volkswagen Brand Board of Management, and also Chairman of the Group's Product Strategy Committee.
 In addition, the Volkswagen AG Board of Management has appointed Folker Weissgerber, 52, with immediate effect to the Volkswagen Brand Board of Management with responsibility for the "Production" division.
 In addition, the Supervisory Board approved the 1992 annual accounts. The following principal Volkswagen Group data are derived from these accounts:
 1992
 -- Sales revenue 85,403 million DM
 -- Investments 9,254 million DM
 -- Annual result Volkswagen Group 147 million DM
 Volkswagen AG 132 million DM
 -- Dividend payments, Volkswagen AG 66 million DM
 The Volkswagen AG Board of Management is to propose to the stockholders' annual general meeting that a unified dividend of 2 DM per ordinary and preference share be paid.
 Further figures relating to the company's results will be announced at the annual accounts press conference on March 31, 1993, in Wolfsburg.
 -0- 3/16/93
 /CONTACT: Volkswagen AG Public Affairs Corporate Press, 011 49 53 61 92 31 30, or in the U.S., Maria Leonhauser, 313-340-5534/


CO: Volkswagen AG ST: Michigan IN: AUT SU: PER

ML -- DE010 -- 6514 03/16/93 11:41 EST
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Date:Mar 16, 1993
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