Hyundai Motor America to Open Processing Facility to Provide Faster Service

FOUNTAIN VALLEY, Calif., Feb. 14 -- Hyundai Motor America (HMA), Amports, and the Maryland Port Administration today announced the addition of a vehicle port of call at the Port of Baltimore. The Baltimore facility owned and operated by Amports is HMA's sixth U.S. port and second processing center opening in the past year.

Shipments are set to begin in April 2002 to the 55,000 square foot facility, which will undergo significant enhancements to make it a state-of- the-art processing center. Amports, the company responsible for processing vehicles, will be investing $6.1 million toward enhancements in the upcoming year. Three hundred jobs will be created in the region, including 30 at Amports, as a result of the additional 52 vessel calls per year. The port is expected to process more than 47,000 vehicles each year.

Baltimore based Amports is a wholly owned subsidiary of Associated British Port (ABP), which owns and operates the largest and leading ports group in the United Kingdom, handling about one quarter of the country's waterborne trade.

``We are very pleased to work with Hyundai Motor America and the Maryland Port Administration to bring this new business to Port of Baltimore and the state of Maryland,'' said Doug Tipton, president and CEO of Amports. ``HMA is one of the fastest growing auto companies in North America, and we are a very excited to be a part of their success.''

All vehicles for the states of Maryland, Virginia, West Virginia and Delaware as well as the southern portions of Pennsylvania and New Jersey will be processed at the facility. The six states were previously serviced by the company's New Jersey port. HMA utilizes four additional processing centers in Portland, Ore., Wilmington, Calif., Brunswick, Ga., Newark, N.J. and an inland center in Alliance, Texas.

``The Baltimore port plays an important role in ensuring the efficient processing of our high-quality, high-value vehicles and providing improved, quicker service to our dealers,'' said Robert Cosmai, vice president of sales for Hyundai Motor America.

``In addition, the opening of the Baltimore port further demonstrates the company's ongoing commitment to the U.S. market,'' said Cosmai.

In the past ten years, more than 3.5 million vehicles have rolled through the Port of Baltimore, with a steady increase in recent years. In 2000, 501,000 vehicles moved through the port's public and private terminals.

``We are thrilled to add Hyundai to the distinguished list of automobile manufacturers moving their cars through the Port of Baltimore,'' said Jim White, executive director for the Maryland Port Administration. ``Hyundai is a first rate company and their vehicles will be handled with Baltimore's nationally recognized 'white glove' service by Amports.''

The facility remodel, which will include an automated car wash as well as other enhancements, is scheduled to be complete by the second quarter of this year. A grand opening will be planned at that time.

About Hyundai Motor America

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 500 dealerships nationwide.

About the Maryland Port Administration

Since becoming the port of entry for the first Volkswagen Beetle in 1963, the Port of Baltimore has been committed to offering top-rate automobile service and handling capabilities. Located more than 150 miles inland, Baltimore is the closest Atlantic port to major mid-western destinations and manufacturing centers. Today, Baltimore consistently ranks among the nation's top three automobile ports and ranks number one in the export of automobiles and trucks.