Hyundai and Kia Celebrate the Grand Opening of a New $30 Million California-Based Design Center

         - Mong-Koo Chung, Chairman and CEO of Hyundai Motor Company
          and Kia Motors Corporation, and Local Officials Celebrate
                     the Innovative U.S. Design Center  -

    FOUNTAIN VALLEY, Calif., Feb. 12 -- Mong-Koo Chung, chairman
and CEO of Hyundai Motor Company and Kia Motors Corp., gathered with elected
officials in Irvine, Calif. today to celebrate the grand opening of the
Hyundai/Kia Motors Design & Technical Center.  The $30 million
state-of-the-art facility houses 100 auto designers, engineers, model makers
and technicians, many who were responsible for design successes such as
Hyundai's Santa Fe sport-utility vehicle and its HCD 6 and HCD 7 concept
vehicles, as well as Kia's KCD-1/Slice concept vehicle.
    The Hyundai and Kia design teams moved from Hyundai's Fountain Valley
headquarters to their new 90,000 square foot design and technical center in
January 2003.  The new facility is fitted with an advanced visualization
system from Blue Water Technologies housed in a presentation room with three
projection screens and two turntables.  Designers and math modelers operate
from the latest Alias / Silicon Graphic work stations while clay modelers
sculpt new design proposals on six surface plates and operate a 5-axis milling
machine with state-of-the-art shop facilities.
    Hyundai and Kia selected the City of Irvine for the home of its design and
technical center because of both companies' rich history in Orange County,
Calif.  Hyundai Motor America is headquartered in neighboring Fountain Valley,
Calif. and Kia Motors America is headquartered in Irvine.
    "Kia Motors America was, in essence, born and raised in Irvine, and we
look forward to continuing that tradition," said Peter M. Butterfield,
president and CEO, Kia Motors America.  "The major benefit of this design
center is having a California-based design staff that understands how to take
automotive trends and make them appealing to U.S. consumers on a bigger
scale."
    "This new design facility reaffirms Hyundai's commitment toward investing
in the U.S. economy as well as its commitment toward the creation of stylish
car designs for our U.S. consumers," said Finbarr O'Neill, president and CEO,
Hyundai Motor America.  "Hyundai and Kia continue to exceed expectations when
it comes to car design and our newest design center will echo both companies'
innovative spirits."
    Also joining the Hyundai and Kia design teams will be Hyundai America
Technical Center, Inc. (HATCI) which is responsible for all engineering
activities in the U.S. for both Hyundai and Kia.
    "Housing HATCI with the Hyundai and Kia design teams guarantees modern
design and expertise in automotive engineering," said S.K. Kim, president,
Research and Development, Hyundai Motor Company.  "This unique type of
collaboration will secure Hyundai's and Kia's continued quest for excellence
in car design."

    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 wagon are available at more than 600 retailers nationwide.
For more information, visit http://www.kiamedia.com .