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Other Matters to be Disclosed

2004.08.27 No. 252

Resolution of execution of contract and guarantee

1. Principal debtor : Rotem Company
    Relationshiop with company : Affiliated Company

2. Contents
    Guarantee of execution of obligations and payments for liabilities ofr the supply of 340 electric railroad cars (approximatly USD 300~400 million) relating to the supply bidding and contract with the Port Authority Trans-Hudson Corporation (PATH) of New York & New Jersy.
       - Thus, guarantee is a biding precondition for the PATH electric railroad cars.

3. Guarantee Period
     : January 2005 ~ January 2013
    * Contract Performance(6 years) & Repair Works(2 years)
    - Total 8 years
     ** Expected first bidding date : September 21, 2004

4. The BOD resolution date : August 27, 2004

5. The final principal debtor could be UTS(United Transit Systems), the U.S. subsidiary of Rotem

6. The above guarantee is only valid at the time of a sucessful bid, and the contents and period of guarantee are subject to change depending on the bidding schedule, related laws, and etc.

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