1. Name of debtor(major shareholder): Hyundai Capital (HC)
- Relationship with Company : Affiliate
2. Details of Guaranteed Debt :
- Amount of guarantee concerned : KRW 369,612,000,000
- Contents of principal debts : Credit Line Guarantee
- Period of guarantee : -
- Name of creditor : GE Capital
- Accumulated balance of debt payment guarantee for HC
: KRW 369,612,000,000
- Total Amount of Guarantee for debtor concerned (HC)in 2005(excluding the amount stated in the previous announcements for said debtor concerned) : KRW 369,612,000,000
- Shareholder’s Equity as of end of 2004 : KRW 13,365,111,000,000
3. Date of BOD Resolution : August 02, 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
- 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 of debt payment above is USD 360,000,000, which represents Hyundai Motor’s shareholding (approx. 61%) for the Credit Line USD 600,000,000 provided by GE Capital; the detailed amount and method of guarantee may be subject to change depending on the contract procedure with GE Capital.
- The guarantee amounts above are based on the exchange rates for August 02, 2005 (KRW 1,026.70 / 1 USD)
- The “Period of guarantee” in #2 above is expected for 1 year starting from the beginning of September 2005 (which is the anticipated starting date for the credit line), and is automatically extended as far as there is no notification from Hyundai Capital or GE Capital 90 days before the expiration date; the above contents are subject to change depending on the related contract procedure and related regulation.
- The above contents may be subject to change depending on government approvals, authorization process, and market situations of the related countries.