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Inverstors News

Guarantee of Debt Payment for Major Shareholder

2004.07.22 No. 242

1. Name of debtor(major shareholder): Hyundai Motor Finance Company.
     - Relationship with company : Affiliated Subsidiary Company
        (Local Overseas Corporation)

2. Details of guaranteed debt :
    - Date of guarantee : July 31, 2004
    - Name of creditor : Bank of America
    - Contents of principal debts : Extension of Overdraft Line
    - Period of guarantee : From July 31, 2004 To July 30, 2007
    - Amount of guarantee concerned : KRW34,770,000,000
    - Accumulated balance of debt payment guarantee for
       major shareholder concerned : KRW 405,650,000,000
    - Accumulated balance of debt payment guarantee by Hyundai
       Motor Company for major shareholders from January 1,
       2004 to current date : KRW 358,603,964,000
    - Paid-in Capital at the end of the previous fiscal year :
       KRW 12,497,925,000,000
    - Ratio to Paid-in Capital : 2.87%

3. Decision date (Date of Board resolution) : July 22, 2004
    - attendance of outside directors : -
    - attendance of auditors : -

4. Applicability of Fair Trade Act : No

5. Others:
    - The amounts in # 3 above are based on the exchange rates for July 22, 2004
       (KRW 1,159.0 / 1 USD; KRW 10.5464 / 1 JPY; KRW 1,420.76 / 1 EUR).
    - Amounts less than KRW 1,000,000 have been deleted from
       the `Paid-in Capital at the end of the previous fiscal year` in #2 above.
    - The above details may be subject to change depending on the
       the market situation.
    - The decision date in #3 above is an internal decision date.

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