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Guarantee of Debt Payment for Major shareholder

2005.07.07 No. 349
1.Name of debtor(major shareholder): Hyundai Motor Europe (HME)
- Relationship with Company : Affiliated Overseas Subsidiary
2. Details of Guaranteed Debt :
- Amount of guarantee concerned : KRW 6,264,300,000
- Contents of principal debts : Credit Line Guarantee
- Period of guarantee : July 07, 2005 ~ July 07, 2006
- Name of creditor : Chohung Bank
- Accumulated balance of debt payment guarantee for HME
: KRW 15,034,320,000
- Shareholder’s Equity as of end of 2004 : KRW 13,365,111,000,000
- Total Amount of Guarantee for debtor concerned
(HME)in 2005(excluding the amount stated in the last
announcement for said debtor concerned) : KRW 6,264,300,000
3. Decision Date : July 07, 2005
4. Others:
- The “Shareholder’s Equity as of end of 2004” in #2 above represents the amount approved at the 37 th Annual General Meeting of Shareholders(March 04,2005) reflecting the effects of Kia Motors Corporation’s(a subsidiary under Hyundai Motor Company) change in its accounting policy
- The amount above is based on the exchange rates for July 07, 2005 (KRW 1,252.86 / 1 EUR).
- The “Amount of Guarantee Concerned” in #2 above is based on the borrowing limit for HME (EUR 5,000,000), and may be subject to change after reflecting the related interests and commissions.
- The decision date in #3 is the acceptance date of guarantee contract report.
-The “Accumulated balance of debt payment guarantee for HME”
in #2 above includes the said guarantee of debt payment concerned above(KRW 6,264,300,000).
- The above contents may be subject to change depending on government approvals, authorization process, and market situations of the related countries.
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