Annual General Meeting of Volkswagen Aktiengesellschaft Approves Substantial Dividend Increase

Hamburg, 24 April 2008 -- The shareholders present and represented at the 48th Annual General Meeting of Volkswagen Aktiengesellschaft approved a substantial dividend increase for the 2007 financial year in Hamburg on Thursday.

The proposal by the Board of Management and the Supervisory Board to pay a dividend of € 1.80 (previous year: € 1.25) per ordinary share and € 1.86 (previous year: € 1.31) per preferred share was accepted by a majority of 99,99 percent of the votes cast. € 720 million was therefore appropriated from the net profit of Volkswagen AG of € 745 million for distribution to the shareholders.

The Annual General Meeting was attended by some 3,600 shareholders and guests. 57,86 percent of voting capital was represented. Dr. Wolfgang Porsche was elected to the Supervisory Board. Christian Wulff, Prime Minister for the Federal State of Lower Saxony, and Walter Hirche, Minister of Economic Affairs, Labor and Transport for the Federal State of Lower Saxony, were also elected to the Supervisory Board for a full term of office.

The motions under Item 9 of the Agenda proposed by Porsche Automobil Holding SE and Hannoversche Beteiligungsgesellschaft mbH concerning amendments to the Articles of Association of Volkswagen Aktiengesellschaft did not obtain the required majority.

Source: Volkswagen