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Guarantee of Debt Payment for Major shareholder

2005.04.26 No. 329
Hyundai Motor Europe Technical Center GmbH (HMETC)
- Relationship with Company : Affiliated Overseas Subsidiary

2. Details of Guaranteed Debt :
- Amount of guarantee concerned : KRW 51,940,000,000
- Contents of principal debts : Term Loan
- Period of guarantee : May 10, 2005 ~ May 12, 2008
- Name of creditor : Societe Generale Bank
- Accumulated balance of debt payment guarantee for HMETC for CY 2005 : KRW 51,940,000,000
- Shareholder’s Equity as of end of 2004 : KRW 13,365,111,000,000
- Total Amount of Guarantee for debtor concerned (HMETC) : KRW 51,940,000,000

3. Decision Date : April 26, 2005

4. Others:
- The “Accumulated balance of debt payment guarantee for HMETC for CY 2005” in #2 above represents the amount approved at the 37th 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 “amount of guarantee concerned” in #2 above is based on the exchange rates for April 26, 2005 (KRW 1,298.50 / 1 EURO).

- The “amount of guarantee concerned” in #2 above is based on the expected capital borrowing (EU 40,000,000), and may be subject to change after reflecting the related interests and commissions.

- The decision date in #3 is the acceptance date of guarantee contract report.

- The “total amount of guarantee for debtor concerned (HMETCin #2 above reflects the said guarantee of debt payment concerned above(KRW 51,940,000,000).

- The above contents may be subject to change depending ongovernment approvals, authorization process, and market situations of the related countries.

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