As part of the programme to update the market regularly and in view of the Euro NM regulations, Spyker has today announced the following trading update for the third quarter of 2004.

Positive effects of May 2004 IPO started to be felt in all aspects of the business
Car production and delivery forecast 2004 at 35 cars. Workforce increases from 50 to 60 FTE’s
Order backlog increases further from 79 to 91 cars
Cost price reduction programme on track
New dealers appointed in Moscow and Monaco
Successful events held at Concours d’Elegances (European at Düsseldorf, Pebble Beach at Carmel, USA and Paleis het Loo, Apeldoorn, the Netherlands)
Spyker becomes National Heritage by appointment of the Dutch Ministry of OCW (Education, Culture and Science) on 23 September 2004
US certification programme on schedule and anticipated to be finalized by yearend 2004 or shortly thereafter
In addition to the above Spyker announces that it shall unveil the open two seater version of its Spyker C8 Double12 S on December 9, 2004 at the Amsterdam Miljonair Fair (www.miljonairfair.nl) at 22.00hrs, the name of this new model to be released then.

Victor Muller, CEO of Spyker Cars says: "The third quarter is in line with our expectations. We have been able to further increase our sales backlog, appointed new dealers in exciting markets and have strengthened our financial basis with the share issue mid October. Our certification and cost reduction programs are on track. Supply chain imperfections have caused a shift of some 2004 deliveries into early 2005. These imperfections however will be remedied prior to year end. 2005 looks very promising. We are hopeful that we will secure the sponsor funding for our Le Mans entry and participate in 2005 for the the third time.