Zeewolde, the Netherlands, 19 July 2012 - Spyker N.V. ("Spyker") announces, in advance of its full financial statements for H1 2012, the financial developments for the period ending per 30 June 2012.

Financial developments

Spyker will report its full interim consolidated financial statements 2012 on 31 August 2012.

In advance of this semi-annual report Spyker already announces that the financial highlights for the period ended 30 June 2012 are:

H1 2012 result amounts to € 126.2 million profit, as a consequence of among others a € 131.0 million gain resulting from financial restructuring and recapitalization;
Operating result amounts to € 1.4 million loss;
Positive equity amounts to € 4.1 million.
Spyker managed to improve its financial position in the first 6 months of 2012 by means of the following events:

All of Spyker's loans in the aggregate amount of € 130 million (including accrued interest up to April 2012) were converted on 18 April 2012 to 260 million non-listed shares A at a share price of € 0.50 each on 18 April, last;
Spyker reached a settlement with the administrators of Saab Great Britain Ltd. to reduce Spyker's debt of € 24,9 million (including accrued interest up to April 2012) to € 0,5 million in cash and the equivalent of € 0,25 million in the form of shares A;
Spyker reached a settlement with certain of its creditors to reduce its trade payables by a total amount of € 1.2 million;
The issue of subscription notices for a total of 13.7 million shares under the € 150 million equity facility between Spyker and GEM Global Yield Fund Limited;
The issue of the first trance of € 0.5 million convertible debenture loan from GEM Global Yield Fund Limited of which € 0.4 million was converted into shares A.

Furthermore Spyker reached an agreement to reduce its $ 10 million parent company guarantee to Saab Automobile's financier GMAC. The exposure was reduced to $ 1 million to be placed in escrow for the duration of GMAC's recovery process.

Victor R. Muller, Spyker's CEO said: "The first half of this year was dedicated solely to stabilizing the company by financially restructuring its large debts to its shareholders into equity and making settlements with creditors. The results of our efforts are very visible in the H1 2012 report and the company is now basically debt free (save for € 100.000 in the form of a convertible debenture with GEM and a € 2.0 million loan for the Spyker C8 Aileron tooling) and has managed to overcome the effects of its main supplier of aluminium bodies-in-white, CPP Manufacturing Ltd, going into administration last January. Having reached agreement with virtually all of its suppliers, the production of Spyker C8 Ailerons has now resumed, be it at a slow pace initially since it takes time for the supply chain to be restored."

"Since Spyker has executed a serious cost down exercise, the operational losses are manageable. After two tumultuous years we are now looking forward to stable and sustainable operations whilst keeping an open eye for investments which may enhance the overall Spyker business."

Going concern
In order to fund Spyker's operations for the next 12 months, including a full restart of the production and repayment of all overdue creditors, further funding will, however, in any event be required.
Management is having exploratory discussions with a number of interested investors.
Management expects that it will be able to find additional funds in time and therefore the accounting principles applied in the H1 2012 figures are based on the assumption that Spyker will be able to continue on a going concern basis.
In case management is not successful in finding the necessary additional funding in time, or other adverse developments occur, Spyker's ability to continue as a going concern will be highly uncertain.