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Addition of an Affiliated Company

2004.08.27 No. 251

1. Affiliated Company
    (1) Name of Company : China Millennium Corporation II
    (2) Representative : Leo H. Chen and James N. Ellsworth
    (3) Paid-in capital : KRW 7,711,523,496
    (4) Total assets : KRW 7,711,523,496
    (5) Business Areas : Investment in real estate

2. Investment Amount : KRW 13,780,228,219
    - Number of Shares Acquired : -
    - Shareholding Ratio after Acquisition (%) : 59.60

3. Name of Company Group : Hyundai Motor Group

4. Number of Affiliated Companies :
    - Before Addition : 96 companies
    - After Addition : 97 companies

5. Total Assets of Affiliates :
    - Before Addition : KRW 73,923,102,000,000
    - After Addition : KRW 73,930,814,000,000

6. Reason for Addition :
    Acqusition of shares of a local overseas corporation

7. Date When Addition is Confirmed : August 27, 2004

8. Others :
    i) The paid-in capital and the total assets amount in #1 and
    investment amount in #2 above are based on the exchange
    rates for August 26, 2004 (KRW 1,156.50 / 1 USD).
    ii) The acquisition of shares above is an indirect acquisition of shares of Beijing Hines Real Estate Development Co. Ltd, which is the 100% owner of Millennium Tower located in Beijing PRC.
    iii) The number of affiliated companies in #4 and the total assets of affiliates in #5 above are including domestic and overseas affiliates(including subsidiaries of the affiliates).
    iv) The Total Assets of Affiliates in #5 above are based on the end of 2003, and amounts less than KRW 1,000,000 have been deleted. (Some overseas subsidiaries` assets are based on financial statements that have not undergone on external audit review.)
    v) The date when addition is confirmed in #7 above is the approval date of board of directors.
    vi) The contents of above are subject to change depending on the government approval and the changes of the market situation of the related countries both China and Korea.

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