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Transaction with Major Shareholder

2004.03.12 No. 219
1. Name of Transaction conterpart : Rotem Company
    - Relationship with Company : Affiliate

2. Details of Transaction: -

3. Accumulated Amount of Transaction with Majore Shareholder Concerned (KRW) : -

4. Decision Date : March 12, 2004
    - attendance of outside directors : 3 out of 4
    - attendance of auditors : present

5. Applicability of Fair Trade Act : Yes
6. Others :
    - guarantee of fulfillment of obligations and payments for UTS, the US subsidiary of
     Rotem Company, a company specializing in railroad cars.
    - Contents of Guarantee : Execution of payment for liabilities for the supply of
    104 electric railroad cars (approx. USD 240 million) as stated in the supply contract
    between the Southeastern Pennsylvania Transportation Authority (SEPTA) and UTS.
    - This guarantee is in accordance with and at the request of the Southeastern
    Pennsylvania Department of Transportation`s mandatory criteria for the awarding of
    commuter rail car bidding.
    - Guarantee Period : May 2004 ∼ May 2010 (4 years for supply and 2 years for
    defect warranty starting from the contract signing date, totaling 6 years).
    - The Contents of Guarantee may be subject to change depending on the related
    - The auditor(s) mentioned in #4 above represents member(s) of the audit

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