1. Name of debtor(major shareholder):
SMART ALABAMA, LLC (SAL)
- Relationship with Company : Affiliated Overseas Subsidiary
2. Details of Guaranteed Debt :
- Amount of guarantee concerned : KRW 10,470,000,000
- Contents of principal debts : Credit Line Guarantee
- Period of guarantee : October 31, 2005 ~ October 30, 2006
- Name of creditor : Woori Bank New York Branch
- Accumulated balance of debt payment guarantee for SAL for CY 2005(excluding the amounts stated in previous announcement for said debtor concerned) : KRW 10,470,000,000
- Shareholder’s Equity as of end of 2004 : KRW 13,365,111,000,000
- Total Amount of Guarantee for debtor concerned (SAL) :
3. Decision Date : October 27, 2005
- 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
October 27, 2005 (KRW 1,047.00 / 1 USD).
- The “Amount of Guarantee Concerned” in #2 above is based on the borrowing limit for SAL (USD 10,000,000), 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 “SAL” in #2 above includes the said guarantee of debt payment concerned above(KRW 10,470,000,000).
- The above contents may be subject to change depending on government approvals, authorization process, and market situations of the related countries.