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Guarantee of Debt Payment for Major shareholder

2005.07.28 No. 353
1. Name of debtor(major shareholder): SMART
- Relationship with Company : Affiliated Overseas Subsidiary
2. Details of Guaranteed Debt :
- Amount of guarantee concerned : KRW 20,624,000,000
- Contents of principal debts : Term Loan
- Period of guarantee : August 01, 2005 ~ July 31, 2008
- Name of creditor : The Export-Import Bank of Korea
- Accumulated balance of debt payment guarantee for SMART
: KRW 57,747,200,000
- Total Amount of Guarantee for debtor concerned (SMART)in 2005(excluding the amount stated in the last announcement for said debtor concerned) : KRW 20,624,000,000
- Shareholder’s Equity as of end of 2004 : KRW 13,365,111,000,000
3. Decision Date : July 28, 2005
4. 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 guarantee amount above is based on the exchange rates for July 28, 2005 (KRW 1,031.20 / 1 USD).
- The “Amount of Guarantee Concerned” in #2 above is based on the capital borrowing for SMART (USD 20,000,000), 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 “Accumulated balance of debt payment guarantee for SMART” in #2 above includes the said guarantee of debt payment concerned above(KRW 57,747,200,000).
- The above contents may be subject to change depending on government approvals, authorization process, and market situations of the related countries.
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