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Guarantee of Debt Payment for Major shareholder

2006.03.22 No. 421

1. Name of debtor(major shareholder):
Hyundai Motor Finance Company (HMFC)
- Relationship with Company : Affiliated Overseas Subsidiary
2. Details of Guaranteed Debt :
- Amount of guarantee concerned : KRW 77,384,000,000
- Contents of principal debts : Credit Line Guarantee
- Period of guarantee : March 31, 2006 ~ May 22, 2007
- Name of creditor : Deutsche Bank
- Accumulated balance of debt payment guarantee for HMFC for CY 2005(excluding the amounts stated in previous announcement for said debtor concerned) : KRW 77,384,000,000
- Shareholder’s Equity as of end of 2004 : KRW 13,365,111,000,000
- Total Amount of Guarantee for debtor concerned (HMFC) : KRW 609,399,000,000
3. Decision Date : March 22, 2006
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 guarantee amount above is based on the transaction exchange rates for March 22, 2006(KRW 967.30 / 1 USD).
- The “Amount of Guarantee Concerned” in #2 above is based on the borrowing limit for HMFC (USD 80,000,000), 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 “HMFC” in #2 above includes the said guarantee of debt payment concerned above(KRW 77,384,000,000).
- 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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