RPT-Porsche renews dollar hedges at weaker rates - CFO

(Repeats to additional Reuters clients)

STUTTGART, Germany, Nov 26 (Reuters) - Porsche (PSHG_p.DE) had no choice but to renew expiring currency hedges for its dollar exposure at "far weaker exchange rates", Chief Financial Officer Holger Haerter said on Wednesday.

In remarks prepared for a news conference, he also said:

- Porsche applies compound options scheme that protects company against weaknesses without being negatively affected by dollar gaining value once again

- believes current dollar strength is a temporary phenomenon, but prepared for different scenario

- established currency hedges against British pound, Japanese yen for period of up to four years

- hedging against Russian rouble proven to be increasingly difficult and more expensive in recent months, not renewing hedges currently expiring

- 2007/08 extended cash flow including changes in other provisions rose to 8.2 billion euros ($10.65 billion) from 5.64 billion in previous year

- net debt 3.077 billion euros at end-July 2008 compared with net cash of 283 million euros a year earlier

- Porsche had cash and cash equivalents of 11.39 billion euros at end-July 2008 (Reporting by Christiaan Hetzner) (michael.shields@thomsonreuters.com, Reuters Messaging: michael.shields.reuters.com@reuters.net; +49 69 7565 1266)) ($1=.7698 Euro)