Stock Ticker

Publicly Issued Asset Backed Securities

We securitise parts of our receivables (lease, wholesale, retail) by selling them to special purpose vehicles based on an approved framework for Assed Backed Securities. The special purpose vehicles refinance themselves by issuing AB-CP's and bonds on the money market and capital market.

Volkswagen Leasing GmbH
VCL 7

	Class A	Class B
Initial Balance	940 mio EUR	29.9 mio EUR
Ranking	Senior	Junior
Initial Credit Enhancement	8.22%	5.26%
Expected Weighted Average Live	1,48 years	1,86 years
Expected Final Payment Date	Sep 07	Sep 07
Legal Final Maturity	Dec 09	Dec 09
Preliminary Rating (Moody's, S&P)	AAA/Aaa/AAA	A+/A1/A+
Coupon	1-M-Euribor +0.08% p.a.	1-M-Euribor +0.26% p.a.
Denomination	10.000 EUR	10.000 EUR
Payment Frequency	monthly	monthly
Redemption	sequential/pro rata pass through	sequential/pro rata pass through
Form	Global Bearer	Global Bearer
Listing	Frankfurt Stock Exchange	Frankfurt Stock Exchange

Volkswagen Leasing GmbH
VCL 8

	Class A	Class B
Initial Balance	940 mio EUR	30 mio EUR
Ranking	Senior	Junior
Initial Credit Enhancement	8.22%	5.26%
Expected Weighted Average Live	3,9 years	4,0 years
Expected Final Payment Date	Oct 12	Oct 12
Legal Final Maturity	Oct 13	Oct 13
Preliminary Rating (Moody's, S&P)	AAA/Aaa/AAA	A+/A1/A+
Coupon	1-M-Euribor +0.08% p.a.	1-M-Euribor +0.18% p.a.
Denomination	50.000 EUR	50.000 EUR
Payment Frequency	monthly	monthly
Redemption	sequential/pro rata pass through	sequential/pro rata pass through
Form	Global Bearer	Global Bearer
Listing	Luxembourg Stock Exchange	Luxembourg Stock Exchange

Volkswagen Leasing GmbH
VCL 9

	Class A	Class B
Initial Balance	940,20 mio EUR	30,35 mio EUR
Ranking	Senior	Junior
Initial Credit Enhancement	8.20%	5.20%
Expected Weighted Average Live	1,37 years	1,72 years
Expected Final Payment Date	Apr 11	Apr 11
Legal Final Maturity	Apr 12	Apr 12
Preliminary Rating (Moody's, S&P)	AAA/Aaa/AAA	A+/A1/A+
Coupon	1-M-Euribor +0.05% p.a.	1-M-Euribor +0.13% p.a.
Denomination	50.000 EUR	50.000 EUR
Payment Frequency	monthly	monthly
Redemption	sequential/pro rata pass through	sequential/pro rata pass through
Form	Global Bearer	Global Bearer
Listing	Luxembourg Stock Exchange	Luxembourg Stock Exchange

Volkswagen Leasing GmbH
VCL 10

	Class A	Class B
Initial Balance	940,20 mio EUR	30,35 mio EUR
Ranking	Senior	Junior
Initial Credit Enhancement	8.20%	5.20%
Expected Weighted Average Live	1,40 years	1,75 years
Expected Final Payment Date	Oct 10	Oct 10
Legal Final Maturity	Jan 13	Jan 13
Preliminary Rating (Moody's, S&P)	AAA/Aaa/AAA	A+/A1/A+
Coupon	1-M-Euribor +0.37% p.a.	1-M-Euribor +0.85% p.a.
Denomination	50.000 EUR	50.000 EUR
Payment Frequency	monthly	monthly
Redemption	sequential/pro rata pass through	sequential/pro rata pass through
Form	Global Bearer	Global Bearer
Listing	Luxembourg Stock Exchange	Luxembourg Stock Exchange

Volkswagen Bank GmbH
Driver One

	Class A1	Class A2	Class B
Initial Balance	40 mio EUR	760 mio EUR	40 mio EUR
Ranking	Senior	Senior	Junior
Initial Credit Enhancement	9.90%	9.90%	6.75%
Expected Weighted Average Live	0,58 years	2,30 years	2,07 years
Expected Final Payment Window	Dec 04 - Jan 06	Jan 06 - Dec 07	Jan 06 - Dec 07
Legal Final Maturity	May 10	May 10	May 10
Preliminary Rating (Moody's, S&P)	AAA/Aaa	AAA/Aaa	A+/A1
Coupon	1-M-Euribor +0.06% p.a.	1-M-Euribor +0.09% p.a.	1-M-Euribor 0.23% p.a.
Denomination	10.000 EUR	10.000 EUR	10.000 EUR
Payment Frequency	monthly	monthly	monthly
Redemption	sequential/ pro rata pass through	sequential/ pro rata pass through	sequential/ pro rata pass through
Form	Global Bearer	Global Bearer	Global Bearer
Listing	Luxembourg Stock Exchange	Luxembourg Stock Exchange	Luxembourg Stock Exchange

Volkswagen Bank GmbH
Driver Two

	Class A	Class B
Initial Balance	917,5 mio EUR	38,5 mio EUR
Ranking	Senior	Junior
Initial Credit Enhancement	9.75%	5.9%
Expected Weighted Average Live	4,2 years	4,1 years
Expected Final Payment Window	Jul 11 - Aug 13	Jul 11 - Aug 13
Legal Final Maturity	Aug 14	Aug 14
Preliminary Rating (Moody's, S&P)	AAA/Aaa	A1/A+
Coupon	1-M-Euribor +0.09% p.a.	1-M-Euribor +0.21% p.a.
Denomination	50.000 EUR	50.000 EUR
Payment Frequency	monthly	monthly
Redemption	sequential/pro rata pass through	sequential/pro rata pass through
Form	Global Bearer	Global Bearer
Listing	Luxembourg Stock Exchange	Luxembourg Stock Exchange

Volkswagen Bank GmbH
Driver Three

	Class A	Class B
Initial Balance	924,5 mio EUR	35,0 mio EUR
Ranking	Senior	Junior
Initial Credit Enhancement	9.0%	5.55%
Expected Weighted Average Live	4,20 years	4,20 years

Legal Final Maturity	Oct 2015	Oct 2015
Preliminary Rating (Fitch/Moody's, S&P)	AAA/Aaa/AAA	A+/A1/A+
Coupon	1-M-Euribor +10BP	1-M-Euribor +19BP
Denomination	50.000 EUR	50.000 EUR
Payment Frequency	monthly	monthly
Redemption	sequential/pro rata pass through	sequential/pro rata pass through
Form	Global Bearer	Global Bearer
Listing	Luxembourg Stock Exchange	Luxembourg Stock Exchange

Volkswagen Bank GmbH
Driver Four

	Class A	Class B
Initial Balance	933 mio EUR	30 mio EUR
Ranking	Senior	Junior
Initial Credit Enhancement	8.20%	5.20%
Expected Weighted Average Live	1,90 years	2,40 years

Legal Final Maturity	Dez 2012	Dez 2012
Preliminary Rating (Fitch/Moody's, S&P)	AAA/Aaa/AAA	A+/A1/A+
Coupon	1-M-Euribor +(tbd) BP	1-M-Euribor +(tbd) BP
Denomination	50.000 EUR	50.000 EUR
Payment Frequency	monthly	monthly
Redemption	sequential/pro rata pass through	sequential/pro rata pass through
Form	Global Bearer	Global Bearer
Listing	Luxembourg Stock Exchange	Luxembourg Stock Exchange

Volkswagen Bank GmbH
Driver Five

	Class A	Class B
Initial Balance	1,214.2 mio EUR	40,3 mio EUR
Ranking	Senior	Junior
Initial Credit Enhancement	8.10%	5.00%
Expected Weighted Average Live	1,95 years	2,44 years
Expected Final Payment Date	Oct 11	Oct 11
Legal Final Maturity	Feb 14	Feb 14
Preliminary Rating (Fitch/Moody's, S&P)	AAA/Aaa/AAA	A+/A1/A+
Coupon	1-M-Euribor +0.58% p.a.	1-M-Euribor +1.40% p.a.
Denomination	50.000 EUR	50.000 EUR
Payment Frequency	monthly	monthly
Redemption	sequential/pro rata pass through	sequential/pro rata pass through
Form	Global Bearer	Global Bearer
Listing	Luxembourg Stock Exchange	Luxembourg Stock Exchange

Volkswagen Bank GmbH
Driver Six

	Class A	Class B
Initial Balance	936 mio EUR	31 mio EUR
Ranking	Senior	Junior
Initial Credit Enhancement	7.9%	4.8%
Expected Weighted Average Live	1,92 years	2,36 years
Expected Final Payment Date	April 2012	April 2012
Legal Final Maturity	Sept. 2014	Sept 2014
Preliminary Rating (Fitch/Moody's, S&P)	AAA/Aaa/AAA	A+/A1/A+
Coupon	1-M-Euribor +tbd.	1-M-Euribor +tbd.
Denomination	50.000 EUR	50.000 EUR
Payment Frequency	monthly	monthly
Redemption	sequential/pro rata pass through	sequential/pro rata pass through
Form	Global Bearer	Global Bearer
Listing	Luxembourg Stock Exchange	Luxembourg Stock Exchange

Volkswagen Financial Services (UK) Limited
Driver UK one

	Class A1	Class A2	Class B1	Class B2
Initial Balance	200.0 mn GBP	296.4 mn EUR	15.0 mn EUR	28.6 mn EUR
Ranking	Senior to Class B but pari passu to Class A2	Senior to Class B but passu to Class A1	Junior to Class A but pari passu to Class B2	Junior to Class A but pari passu to Class B1
Initial Credit Enhancement	15.30%	15.30%	8.00%	8.00%
Expected Weighted Average Live	1,96 years	1,96 years	1,96 years	1,96 years
Expected Final Payment Date	May 2011	May 2011	May 2011	May 2011
Legal Final Maturity	Mar 2017	Mar 2017	Mar 2017	Mar 2017
Preliminary Rating (Fitch/Moody's, S&P)	AAA/Aaa/AAA	AAA/Aaa/AAA	A+/A1/A+	A+/A1/A+
Coupon	1-m-Euribor +0.70% p.a.	1-m-Euribor +0.70% p.a.	1-m-Euribor +1.60% p.a.	1-m-Euribor +1.60% p.a.
Denomination	50.000 EUR	50.000 EUR	50.000 EUR	50.000 EUR
Payment Frequency	monthly	monthly	monthly	monthly
Redemption	sequential/ pro rata pass through	sequential/ pro rata pass through	sequential/ pro rata pass through	sequential/ /pro rata pass through
Form	Global Bearer	Global Bearer	Global Bearer	Global Bearer
Listing	Luxembourg Stock Exchange	Luxembourg Stock Exchange	Luxembourg Stock Exchange	Luxembourg Stock Exchange

Prospects

Volkswagen Leasing GmbH VCL 7: PDF, 122 Pages, 973 KB
Volkswagen Leasing GmbH VCL 8: PDF, 140 Pages, 864 KB
Volkswagen Leasing GmbH VCL 9: PDF, 175 Pages, 1.17 MB
Volkswagen Bank GmbH Driver One: PDF, 129 Pages, 761 KB
Volkswagen Bank GmbH Driver Two: PDF, 138 Pages, 924 KB
Volkswagen Bank GmbH Driver Three: PDF, 162 Pages, 1.28 MB
Volkswagen Bank GmbH Driver Four: PDF, 161 Pages, 1.27 MB
Volkswagen Bank GmbH Driver Five: PDF, 157 Pages, 1.14 MB
Volkswagen Bank GmbH Driver Six: PDF, 158 Pages, 1.18 MB
Volkswagen Financial Services (UK) Limited Driver UK One: PDF, 178 Pages, 1.19 MB
Volkswagen Leasing GmbH VCL 10: PDF, 175 Pages, 1.37 MB

Info Center

Prospects

Volkswagen Leasing GmbH VCL 7: PDF, 122 Pages, 973 KB
Volkswagen Leasing GmbH VCL 8: PDF, 140 Pages, 864 KB
Volkswagen Leasing GmbH VCL 9: PDF, 175 Pages, 1.17 MB
Volkswagen Bank GmbH Driver One: PDF, 129 Pages, 761 KB
Volkswagen Bank GmbH Driver Two: PDF, 138 Pages, 924 KB
Volkswagen Bank GmbH Driver Three: PDF, 162 Pages, 1.28 MB
Volkswagen Bank GmbH Driver Four: PDF, 161 Pages, 1.27 MB
Volkswagen Bank GmbH Driver Five: PDF, 157 Pages, 1.14 MB
Volkswagen Bank GmbH Driver Six: PDF, 158 Pages, 1.18 MB
Volkswagen Financial Services (UK) Limited Driver UK One: PDF, 178 Pages, 1.19 MB
Volkswagen Leasing GmbH VCL 10: PDF, 175 Pages, 1.37 MB