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Hyundai Motor Finance Company Reorganizes to Focus on Key Dealers

18 January 1998

Hyundai Motor Finance Company Reorganizes to Focus on Key Dealers

      Company Reduces Number of Dealers Served, Reduces Staffing by 22;
            Hyundai Motor America Announces Layoff of 11 Employees

    FOUNTAIN VALLEY, Calif., Jan. 16 -- Hyundai Motor Finance
Company (HMFC) announced today that it is reorganizing to focus on a core
group of Hyundai Motor America auto dealers.  The reorganization will reduce
the size of the company and will result in the layoff of 22 employees.
    "Our primary goal at Hyundai Motor Finance Company has always been to see
that Hyundai dealers receive the best in service for their financing needs.
By focusing on the dealers who have the greatest need for our services and who
utilize HMFC the most, we can assure those dealers that we will be better able
to meet their needs," said HMFC Vice President Michael Krahelski.
    In order to meet the needs of Hyundai dealers who will no longer be served
by HMFC, the company is finalizing arrangements for a strategic relationship
with a major automotive financing supplier.
    HMFC will concentrate its efforts on 75 dealers in 20 states.
    In a separate action, Hyundai Motor America laid off 11 employees today.
The layoffs were made as part of the company's efforts to reduce costs.

SOURCE  Hyundai Motor Finance Company