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Disposal of Investment Shares in Major Shareholder

2005.11.04 No. 385
1. Name of investment shares recipient :
GE Capital Corporation,
GE Capital International Holdings Corporation
- Relationship with Company : -
2. Details of Disposal:
- Object of disposal : 4,643,750 common shares of Hyundai Capital
- Amount of disposal : KRW 81,265,625,000
- Purpose of disposal : For strategic alliance with GE Capital
- Appraisal amount for disposal shares: KRW 23,507,000,000
- Total shareholding after disposal: 56.1%
- Total investment amount after disposal: KRW 263,665,000,000
- Accumulated balance of disposal shares for Hyundai Capital for CY 2005(excluding the amounts stated in previous announcement for investment recipient concerned) : KRW 81,265,625,000
- Shareholder’s Equity as of end of 2004 : KRW 13,365,111,000,000
3. Date of BOD Resolution : November 04, 2005
- Attendance of Outside Directors : 2 out of 4
- Attendance of auditors: 2 out of 3 were present
* Hyundai Motor Company’s audit committee members are all outside directors
4. Applicability under Fair Trade Act : YES
5. Others:
- The “Shareholder’s Equity as of end of 2004” in #2 above represents the amount approved at the 37 th Annual General Meeting of Shareholders(March 04,2005) reflecting the effects of Kia Motors Corporation’s(a subsidiary under Hyundai Motor Company) change in its accounting policy
- The expected disposal date is tentatively November 09, 2005, and may be subject to change.
- The “Appraisal amount for disposal shares” and “Total investment amount after disposal” in #2 above are based on the book value as of the end of the 1 st half 2005 (Amounts less than KRW 1,000,000 have been deleted)
- The above contents are subject to change depending on process for the sales contract and related regulation.
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