Resolution of Cancellation of Grant of Stock Option
1. Grant Details - Granted Members : 168 persons - Type and number of shares: 2,352,200 shares of registered common stock
2. Date of Board Rresolution : May 3, 2004
3. Reason for cancellation of grant : Voluntary retirement - Basis for cancellation : Article 84 section 6.8 of the securities exchange law and article 7 section 3 of the articles of incorporation of Hyundai Motor Company.
4. Persons canceling the grant of stock option / the number of common shares :