Leadership Changes at Hyundai Motor Manufacturing Alabama

MONTGOMERY, Ala., June 1 -- After successfully completing construction, launching commercial production and a major grand opening event, Hyundai Motor Manufacturing Alabama's (HMMA) leadership team will undergo several changes. This is part of Hyundai Motor Company's strategy and on-going management philosophy to transition the leadership team that was responsible for construction and the start of commercial production with a new team that will oversee HMMA's transition to full-scale commercial production.

Effective immediately, M. H. Lee, President and CEO of HMMA will receive a new position with Hyundai Motor Company in Korea. Lee was responsible for the strategic direction and management of HMMA's company operations. Prior to joining the HMMA team, Lee was the plant manager of Hyundai Motor in India. Lee joined Hyundai Motors in 1972 and has been with the company for 33 years.

B.M. Ahn, Executive Vice President of Administration and HR, and Mark Lee, Executive Vice President of Purchasing and Procurement, will also be transferred to new assignments in Korea effective today. For the past four years, Ahn has been an integral part of HMMA's negotiations with various state, city and county governmental entities and played a significant role in bringing Hyundai to Montgomery. Lee was responsible for overseeing the development of the complex parts supply structure, which includes both Korean and American suppliers.

Mr. Joo-Soo Ahn has been named as the new President and CEO of HMMA. Mr. Ahn comes to HMMA from Hyundai's Asan Plant in Asan, Korea, also producers of the 2006 Sonata, where he served as COO. Ahn will begin oversight of HMMA's transition to full-scale commercial production effective immediately.

HMMA, headquartered in Montgomery, Ala., is an independent manufacturing operation of Hyundai Motor Company, based in Seoul, Korea. HMMA currently produces the Sonata sedan, and will begin production of the next generation 2007 Santa Fe sport utility vehicle in Spring of 2006. At full capacity, HMMA will produce 300,000 vehicles annually. Hyundai cars and sport utility vehicles are distributed throughout the United States by Hyundai Motor America and are sold and serviced by more than 650 Hyundai dealerships nationwide.