Hyundai Motor Company Announces Plans for U.S. Proving Ground

     - Fifty-Million-Dollar California Facility Adds to Hyundai's Growing
            Investment in the United States, Reaffirms Commitment
                     To U.S. Hyundai and Kia Consumers -

    FOUNTAIN VALLEY, Calif., Jan. 27 -- Hyundai Motor Company, Korea, announced plans to build a $50 million
automotive proving ground in California City, Calif.  The facility will be the
test site for next-generation vehicles from Hyundai and Kia.  The Hyundai/Kia
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.
    Groundbreaking on the 4,300-acre facility, located 100 miles north of Los
Angeles in the Mojave Desert (north of State Highway 58) will take place later
this year.  The project is scheduled for completion in 2004 and will feature
the construction of 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 and indoor
testing will also be constructed.
    The proving ground will be staffed and run by Hyundai Motor Company
subsidiary, Hyundai America Technical Center, Inc. (HATCI), which is
responsible for the technical development of Hyundai and Kia cars and trucks
in North America.
    The Hyundai/Kia Proving Ground is the most recent U.S. investment by
Hyundai, demonstrating the company's firm commitment to this country.  Recent
U.S. investments include the newly opened $24 million Hyundai/Kia Design
Center in Irvine, Calif., and the $1 billion manufacturing plant in
Montgomery, Ala. -- Hyundai's first U.S. manufacturing facility.
    "The United States offers many appealing opportunities for Hyundai Motor
Company, and we continue to invest to ensure our future here," said Dr. Young
Woo Kim, Senior Executive Vice President, Hyundai America Technical Center,
Inc.  "The proving ground is an example of our commitment to developing
vehicles that meet the unique demands of the American driver."
    Hyundai selected California City because it has proven to be an ideal
location for other automotive research and development industries.
Groundbreaking for the new facility will signal the success of a campaign to
redraw the city boundaries to increase the viability of future development in
California City.
    The facility will bring as many as 40 new full-time jobs to the East Kern
County area, attract associated industry companies and add significantly to
city revenue.  California City officials have endorsed the project citing
Hyundai's reputation as a responsible corporate partner, and the long-term
positive impact on the local economy, as the primary reasons for facilitating
the deal.

    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,
visit http://www.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, visit http://www.kiamedia.com .