Hyundai Intends to Support Bering Truck Dealers and Customers

    SEOUL, South Korea--June 22, 2001--In light of the recent announcement by Bering Truck Corp. and Bering Distribution that they are closing their doors, Hyundai Motor Company announces through its United States counsel, McCutchen, Doyle Brown & Enersen that HMC is seeking ways to provide support for dealers and customers of the Bering following Bering's closure.
    Bering Truck purchased custom-built and Bering-specified commercial vehicles from Hyundai Motor Company for two years until the agreement was terminated by HMC in November 2000. Around 2,000 trucks were sold in the United States as Bering vehicles.
    Warranty and support services were provided by Bering. However, in light of Bering's closure, Hyundai Motor Company is concerned about protecting the interests and activities of customers and dealers and is currently discussing a new warranty program with Bering dealers.
    Hyundai Motor Company and its parts affiliate Hyundai Mobis are also in discussions with Detroit Diesel to establish a United States commercial vehicle parts distribution network.
    The company is also seeking ways in which it can help former Bering dealers to remain viable and is meeting representatives of the dealer network to explore other long-term strategies to protect them and their customers.