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Inverstors News

Disposal of Equity Investment in Major Shareholder

2004.08.02 No. 246

1. Object of disposal : 16,656,000 registered common shares of Hyundai Capital Services Inc.

2. Relation with the company : Affiliate

3. Total amount of investment disposal : KRW 266,496,000,000 ( 1 share = KRW 16,000 )

4. Purpose of investment disposal Selling Hyundai Capital shares to GE Capital for strategic alliance between Hyundai Capital and GE Capital

5. Book value of investment to be disposed : KRW 99,632,000,000

6. Total investment amount in Hyundai Capital After disposal : KRW 258,156,000,000

7. Total Shareholding in Hyundai Capital : 60.79%

8. Decision Date : August 2, 2004
    - 3 out of 4 outside directors were present
    - 3 out of 3 auditors were present

9. Others
    - Amounts less than KRW 1,000,000 have been deleted for the amount from #2 above.
    - Disposal date is plan to be at the end of September.
    - The above details may be subject to change depending on the detailed schedule.
    - Detail matters other than the above are to be delegated to the representative
      director.
 

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