HYUNDAI AUTOMOTIVE GROUP BREAKS GROUND ON FIRST NORTH AMERICAN PROVING GROUND

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-- MONG-KOO CHUNG, CHAIRMAN AND CEO OF HYUNDAI MOTOR COMPANY AND KIA MOTORS CORPORATION, PARTICIPATES IN THE CEREMONIAL GROUNDBREAKING OF THE $50 MILLION CALIFORNIA FACILITY --

02/11/2002

Mong-Koo Chung, chairman and CEO of Hyundai Motor Company and Kia Motors Corporation, joined a select group of VIPs in a ceremonial groundbreaking on Hyundai's first U.S. proving ground in California City, Calif. The 4,300-acre, $50-million facility will be the test site for next-generation Hyundai and Kia vehicles. The Hyundai - Kia Motors Proving Ground furthers Hyundai's growing investment in the United States and reaffirms the company's commitment to designing Hyundai and Kia products for North American consumers.

The Hyundai - Kia Motors Proving Ground site is located 100 miles north of Los Angeles in the Mojave Desert (north of State Highway 58). Construction will begin later this year and the facility is scheduled to open in late 2004. The grounds will include a 6.4-mile oval track, a Vehicle Dynamics Area (VDA), a vehicle-handling course inside the oval track, a paved hill road, and several special surface roads. A 30,000-square-foot complex for offices will also be constructed.

"The U.S.-based Hyundai - Kia Motors Proving Ground will ensure that future Hyundai and Kia vehicles are designed with the North American consumer in mind," said Chairman Chung. "Hyundai is committed to building on the momentum we've established in the U.S., and this state-of-the-art testing facility will help us do so."

"California City is excited to welcome Hyundai Automotive Group into our community," said Larry Adams, mayor of California City. "Hyundai's excellent reputation as a responsible corporate partner, and its eagerness to contribute to the culture of our city, are signs of the benefits to come."

Hyundai Motor America, based in Fountain Valley, Calif., is a subsidiary of Hyundai Motor Company of Korea. Hyundai cars and sports utility vehicles are distributed in the United States by Hyundai Motor America and are sold and serviced through more than 600 dealerships nationwide. For more information, visitwww.hyundainews.com.

Hyundai America Technical Center, Inc., is a wholly owned subsidiary of Hyundai Motor Company, Korea. It is responsible for the technical development of cars and trucks in North America, including governmental certification issues. Its headquarters are located in Ann Arbor, Mich., with two branch offices in the Los Angeles area.

Kia Motors America is the U.S. sales, marketing and service arm of Kia Motors Corp. in Seoul, Korea. The full line of Kia models including the Sorento midsize SUV, Sedona minivan, Optima midsize sedan, Spectra compact sedan and five-door hatchback as well as the Rio subcompact sedan and Rio Cinco five-door are available at more than 600 retailers nationwide. For more information, visitwww.kiamedia.com.

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