Hyundai M.gds O Regulatory News (HYUO)

16 Dec 2005 07:00

Hyundai Motor Company16 December 2005 HYUNDAI MOTOR COMPANY (HMC) Corporate Disclosure to Korea Stock Exchange Disclosure date : December 15, 2005 Disclosure title : Guarantee of Debt Payment for Major shareholder 1. Name of debtor(major shareholder): Hyundai Motor Europe (ROTEM) - Relationship with Company : Affiliate 2. Details of Guaranteed Debt : - Amount of guarantee concerned : KRW 71,074,000,000 - Contents of principal debts : Guarantee of execution of obligation, paymentsand liabilities of the supply of 40 driverless rail car units in accordance tothe contract. - Expected Period of guarantee : December , 2005(upon start of guarantee) - December, 2011 (performance of contract 4 years + repair works 2 years = total 6 years) - Name of creditor : SNC-Lavalin Company (Canada) - Accumulated balance of debt payment guarantee for ROTEMfor CY 2005(excluding the amounts stated in previous announcement for saiddebtor concerned) : KRW 71,074,000,000 - Shareholder's Equity as of end of 2004 : KRW 13,365,111,000,000 - Total Amount of Guarantee for debtor concerned (ROTEM) : KRW 71,074,000,000 3. Decision Date : December 15, 2005 4. Others: - The "Shareholder's Equity as of end of 2004" in #2 above representsthe amount approved at the 37th Annual General Meeting of Shareholders(March04,2005) reflecting the effects of Kia Motors Corporation's(a subsidiary underHyundai Motor Company) change in its accounting policy - The amount above is based on the transaction exchange rates for December15, 2005 (KRW 884.82 / 1 CAD). - The above guarantee is a precondition in order for the supply contractof 40 driverless rail car units to become effective. (Canada's SNC-Lavalin company requested Hyundai Motor company's (the parent company of ROTEM) letter of guarantee as a condition for the contract to become effective.) - The "Amount of guarantee concerned" in #2 above is based onthe contract amount for ROTEM. - The "Decision date" in #3 above is the internal decisiondate. - The above contents and period of guarantee are subject to change depending onthe execution schedule, related laws, etc. This information is provided by RNS The company news service from the London Stock Exchange