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Temporary Response to Disclosure Inquiry regarding Rumor or News

2005.12.30 No. 400
Responsive disclosure regarding the news report of the
establishment of a joint venture company with
Guangzhou Automobile Company

We signed MOU with China Guangzhou Automobile Company in reference to the establishment of China Commercial Vehicle Joint Venture Plant in June 21, 2005, and were under negotiations for establishing the company and starting construction of plant at the end of this year. However, since we are still undergoing market research and business appropriateness etc., there is no final decision as of yet.
We will disclose any further details upon its conclusion by the end of June, 2006.

Name of Disclosure Officer : Yoo No Hwang,
Director, Head of Financial Management Group
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