Fitch Ratings Issues Hyundai Auto Receivables Trust 2004-A

NEW YORK--Aug. 2, 20045, 2004--Fitch Ratings has issued a presale report on Hyundai Auto Receivables Trust discussing the rating analysis behind Fitch's expected 'F1+' ratings on the class A-1 notes, 'AAA' ratings on the class A-2 notes, A-3 notes and A-4 notes, 'AA' class B, 'A+' class C, and 'BBB+' class D. The securities are backed by a pool of retail installment sales contracts secured by new and used automobiles.

The following presale report is available to all investors on the Fitch Ratings web site at 'www.fitchratings.com' or by contacting Sara Grohl at +1-212-908-0564 or via e-mail, 'sara.grohl@fitchratings.com'. For more information about Fitch's comprehensive subscription service FitchResearch, which includes all presale reports, surveillance, and credit reports on more than 20 asset classes, contact product sales at +1-212-908-0800 or at 'webmaster@fitchratings.com'.