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PORSCHE CREDIT IMPROVES TERMS ON FINANCING AND LEASING PROGRAMS

 RENO, Nev., Feb. 2 /PRNewswire/ -- Porsche Credit Corporation, the eight month-old financing arm of Porsche Cars North America, has announced improved terms to its financing and leasing programs, which were already among the most flexible and competitive in the automotive industry.
 Under these new terms, Porsche will offer financing on several of its popular 1992 and 1993 models at rates as low as 1.9 A.P.R. and for terms as long as seven years. In addition, lower rates are also available on the same models for the Porsche "Preferred Lease" program and its innovative "Porsche Options" program, which conveniently combines the economies of leasing with the benefits of ownership.
 "We created Porsche Credit Corporation in mid-1992 as part of our long-term commitment to the American market, and specifically to make it easier and more affordable for American drivers to participate in the Porsche experience," said Fred Schwab, president and chief executive officer of Porsche Cars North America. "Our aggressiveness in this area is proven by the attractive terms of our financing and leasing programs."
 The special rates are available on new 1992 and 1993 Porsche 968 Cabriolets, 911 Carrera 2s and 911 Carrera 4s, as well as 1992 911 Turbos.
 Interest rates to finance the purchase of these models are now as low as 1.9 A.P.R. for 24 months, and terms increase in 12-month increments up to 84 months, which is an unusually long financing option for automobiles. The longer term is justified by the historical resale value of Porsche cars.
 The improved lease terms would apply to the same Porsche models and would include the same attractive features as found in the existing Porsche Preferred Lease program. For example, under these new rates, someone leasing a 1992 Carrera 2 Coupe for 36 months would save about 13 percent on their monthly payments. The Porsche Preferred Lease is a closed-end lease with low initial cash requirements and several options at lease-end.
 Improved rates for several models are also now available with the Porsche Options program, which allows drivers to pay for only the period they actually drive the car, from 24 to 48 months. Drivers in this program own their vehicles, while enjoying low monthly payments similar to a lease and a variety of options at the conclusion of their selected term. At this point, they may keep their car by paying off its current trade-in value; sell the vehicle, pay off the balance and retain the possible profit; refinance the balance without any increase in the monthly payment amount, or simply return the vehicle without further obligation.
 The special Porsche Options rates range from 2.9 percent for 24 months to 4.9 A.P.R. for 48 months, and are offered for the same models as those participating in the new finance and lease programs.
 "We're really excited at the prospect of enabling more and more people to own and lease Porsches who may have thought they couldn't afford it," said Schwab, "and we'll continue to look for ways to make both our new and used models more accessible to a wider range of American drivers through new Porsche Credit programs in the future."
 -0- 2/2/93
 /CONTACT: Bob Carlson of Porsche Cars North America, 702-348-3707, or Dan O'Connell of Robert Marston and Associates, Inc., 212-371-2200, for Porsche/


CO: Porsche Credit Corporation ST: Nevada IN: AUT SU:

SM-KW -- NY063 -- 1933 02/02/93 13:37 EST
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Date:Feb 2, 1993
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