Investors News

Addition of an Affiliated Company

2004.08.27 No. 255

1. Affiliated Company
    (1) Name of Company : Beijing Hines Millennium
    Real Estate Development
    (2) Representative : James A. Morrison
    (3) Paid-in capital : KRW 33,700,717,654
    (4) Total assets : KRW 103,018,418,924
    (5) Business Areas : Real Estate Management

2. Investment Amount : 0
    - Number of Shares Acquired : 0
    - Shareholding Ratio after Acquisition (%) : 0

3. Name of Company Group : Hyundai Motor Group

4. Number of Affiliated Companies :
    - Before Addition : 98 companies
    - After Addition : 99 companies

5. Total Assets of Affiliates :
    - Before Addition : KRW 73,948,729,000,000
    - After Addition : KRW 74,051,747,000,000

6. Reason for Addition : Overseas affiliated companies own 99% of Beijing Hines Millennium Real Estate Development.

* China Millennium Corporation I, China Millennium Corporation II, China Millennium III, which were acquired by Hyundai Motor Company on August 27, 2004, owns 99% shares of Beijing Hines Millennium Real Estate Development.

     - Share structure of Beijing Hines Millennium Real Estate Development
      China Millennium Corporation I : 22.94%
      China Millennium Corporation II : 22.82%
      China Millennium Corporation III : 53.24%
           Total : 99.00%

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

8. Others :
    i) The paid-in capital and the total assets amount in #1
    above are based on the exchange rates for August 26,
    2004 (KRW 1,156.50 / 1 USD).
    ii) 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).
    iii) 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.)
     iv) The date when addition is confirmed in #7 above is the approval date of board of directors.
    v) 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.