Strategic Partnership

7 May 2008 10:50

Hyundai Motor Company07 May 2008 HYUNDAI MOTOR COMPANY (HMC) Corporate Disclosure to Korea Stock Exchange Disclosure date : May 07, 2008 Disclosure title : Other Matters to be Disclosed 1. Title : Strategic Partnership Agreement with Microsoft corporation 2. Contents : Hyundai Motor Company and Microsoft Corporation has made anagreement to enter into a Strategic partnership to collaborate in thedevelopment of automobile-use IT and Infortainment system. *Infortainment : Newly coined word for Information and Entertainment a) Major Contents of Strategic Partnership -Enter into contract for Cooperations in developing the next generation Infortainment system for auto vehicles -Enter into MOU for establishing !(R)Automotive IT Innovation Center! by Hyundai Motor Co, Microsoft Co, and Institute for Information Technology Advancement b) Planned Investment Amount : USD 166 million over 5 years c) Future Schedule -From early 2009 : Public demonstrations of prototype at major Motor shows and Consumer Electronics shows -Mid 2010 : Develop Next Generation Audio system for North America market 3. Date of Strategic Partnership Agreement : May 06, 2008 4. Others : a) The above contents may be subject to change depending on the business environment of the above mentioned companies. b) The above planned investment amount is the consolidated amount of investment by Hyundai Motor Company and Kia Motor Company. This information is provided by RNS The company news service from the London Stock Exchange