Statement from Hyundai Motor America Regarding the Departure of Finbarr O'Neill

FOUNTAIN VALLEY, Calif., Aug. 31, 2003 -- Hyundai Motor America announced today that its President Finbarr O'Neill has elected to leave the company effective immediately.

"After 18 years working for Hyundai Motor America I have elected to pursue an opportunity which offers new and exciting challenges for me," said O'Neill. "I leave Hyundai looking toward its third year of record sales and with a strong management team in place. The company is well positioned for the future, but for me it was time to try something new," O'Neill said.