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Temporary Response to Disclosure Inquiry regarding Rumor or News

2004.04.26 No. 228

Responsive disclosure regarding the news report of thediscontinuance of the strategic alliance with DaimlerChrysler

In the year 2000, Hyundai Motor Company and Daimler Chrysler AG formed a comprehensive strategic alliance.However, due to situational changes since 2000, Hyundai Motor Company and Daimler Chrysler AG are currently undergoing negotiations of all possibilities for restructuring the comprehensive strategic alliance into a project-by-project strategic alliance. The negotiations are yet to be concluded at this time. Currently, no concrete decision has been made, and we will disclose the details of the negotiation upon its conclusion.

Name of Disclosure Officer : Jung Dae Lee, Senior Executive Vice President / Finance & Accounting Division

* The above statement is in response to the Korea Stock Exchange inquiry made on April 26, 2004 09:18 a.m.

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