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Inverstors News

Other Matters to be Disclosed

2004.05.24 No. 237
Car Carrier for Hyundai Motor Company Sinks

1. Damage : 1,058 vehicles for export

2. Date of Accident : 22:46, May 22, 2004 (Local time)
    23:46, May 22, 2004 (Korea time)

3. Details : The car carrier toward Europe collided
    with VLCC (Very Large Crude oil Carrier) and sank on route

4. Location of Accident : The Straits of Singapore

5. Estimated Loss : Loss of 1,058 vehicles to be exported to
    Russia, Germany, Finland

      1) Amount of Loss : KRW 11,406,000,000-
      (The above amount is based on the first quoted basic trade rate by the Korea
      Exchange Bank for the date of May 22, 2004 of USD 1 = KRW 1,177.10
      (USD 9,690,000))
      2) Total Assets as of the End of FY 2003 :
      KRW 24,250,145,000,000-
      3) Portion of Estimated Loss to Total Assets : 0.05%

6. Insurance Coverage : Damaged vehicles are insured and the
    expected compensation to victim of loss is 110%

7. Future Action : Shipment as soon as possible after
    reproduction of vehicles

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