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Guarantee of Debt Payment for Major shareholder

2004.11.05 No. 268
1. Name of debtor(major shareholder):
      - Hyundai Motor Finance Company (HMFC)
      - Relationship with company : Overseas Subsidiary

2. Details of guaranteed debt :
      - Name of creditor : Deutsche Bank
      - Contents of principal debts : Revolving Credit line
      - Period of guarantee : November 16, 2004 ~ November 15, 2005
      - Amount of guarantee concerned : KRW 133,752,000,000
      - Accumulated balance of debt payment guarantee for HMFC concerned for CY 2004 : KRW 390,110,000,000
      - Equity Capital : KRW 12,497,925,000,000
3. Date of Board Resolution : November 05, 2004
      - Attendance of Outside Directors : 3 out of 4
      - Attendance of Auditors(who are not Outside Directors): No
      * Hyundai Motor Company’s audit committee members are all outside directors (3 out of 3 were present)
4. Others:       - The amounts in #2 above are based on the exchange rates for November 5, 2004 (KRW 1,114.6 / 1 USD).
      - The ‘Amount of guarantee concerned’ in #2 above is USD
100,000,000, and this year’s guarantee includes various other expenses related to the debt.
      - The above contents are subject to change depending on
government approvals and the changes in the market situation of the related countries.

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