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Other Matters to be Disclosed

2004.10.01 No. 262

Approval on Merger as acquiring Hyundai Commercial Vehicle Engine Co.

1. Date of BOD resolution : October 1, 2004

    i) 4 out of 7 directors were present.
       (3 out of 4 outside directors were present)
    ii) 3 out of 3 auditors were present.

2. Contents

    i) Agenda : Approval on Merger as acquiring Hyundai Commercial
       Vehicle Engine Co (HCVE).
    ii) Purpose of Merger
       : To enhance efficiency and to reduce R&D costs by increasing in-house
       development capabilities for large commercial vehicle engines.
    iii) Method of Merger
       : Merger by acquiring Hyundai Commercial Vehicle Engine Co.
    iv) Merging Ratio
       : Ratio 1:0 (HMC : HCVE)
    v) Expected contract date of merger : November 5, 2004

3. Related disclosure Date : August 27, 2004

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