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Resolution of Cancellation of Grant of Stock Option

2006.01.26 No. 405
1. Cancellation Details
- Number of person canceling grant : 4 person
- Type and number of cancelled shares:
6,650 shares of registered common stock
2. Details of Cancelled Shares :
- Date of Grant: February 14, 2003
- Exercise Period : February 14, 2006 ~ February 13, 2011
- Exercise Price : KRW 26,800
3. Status of stock options granted after cancellation :
- Number of Grant : 112 persons
- Number of shares : 1,235,904 shares of registered common stock
4. Reason for cancellation of grant : Voluntary retirement
- Basis for cancellation : Article 84 section 6.8 of the securities and exchange law and article 7 section 3.7 of the articles of incorporation of Hyundai Motor Company.
5. Date of Board Resolution : January 26, 2006
- Attendance of Outside Directors : 3 out of 4
- Attendance of auditors(who are not Ouside Directors): -
* Hyundai Motor Company’s audit committee members are all ouside directors (3 out of 3 were present)
6. Persons canceling stock option / number of common shares :
 

Relationship with company

Cancelled shares

Remarks

Common shares

Prefered shares

Johng Sik Choi

Unregistered officer

854

-

resignation

Jong Ryul Shin

Unregistered officer

754

-

resignation

Choong Yong Kim

Unregistered officer

3,781

-

resignation

Bok Kil

Cheon

Unregistered officer

1,261

-

resignation

Total

-

6,650

-

resignation

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