On Jan. 23, 2008, Hyundai annual sales meeting was solemnly held in Hong Kong. The important people attended the annual meeting are: Mr. Kim, the president of Hyundai Heavy Industries (China) Investment Co., Ltd.; Mr. Wen, the president of Taishan Financial Leasing Co., Ltd.; Mr. Eui-youl, Lee, sales & product support executive vice president of Hyundai Heavy Industries Co., Ltd.; Mr. Quan, standing committee member of overseas production support, representatives of Hyundai excavator machinery and forklift dealers, and other honored guests. Totally about 300 people gathered in Hong Kong Harbour Plaza Resort City.

The meeting was hosted by Ms. Li Chunsheng, the deputy general manager of Beijing Hyundai Jingcheng Construction Machinery Co., Ltd. Mr. Kim, the president of Hyundai Heavy Industries (China) Investment Co., Ltd. warmly congratulated the success holding of the annual sales meeting.

Hyundai Heavy Industries has entered Chinese engineering machinery market for 13 years. During the 13 years, the excavator market grew to 61000 units from 2500 units, with a growth of 25 times, the fastest of the world. The sales of Hyundai Chinese factory grew to 9500 units in 2007 from 33 units in 1995. Till now, including imported equipment, totally 38000 units were sold. In 2007, we have a growth of 33% comparing with that of 2006. Mr. Kim expressed his heartfelt thanks to all the concerned people.

Mr. Li Xiangzu, general manager of Beijing Hyundai Jingcheng Construction Machinery Co., Ltd. also made a speech at the meeting: “In 2007, Beijing Hyundai sold 5800 forklifts and 5100 excavators, with a growth of 30% and 45% respectively than that of 2006. From the 2000 units of 2004 to nearly 6000 units of 2007, Beijing Hyundai has a yearly growth of more than 35%; far more than the average growth of Chinese forklift companies. Mr. Li attributed all these achievements o the hard work of the dealers all over the country.

Dealers like Guangzhou Tianli Forklift Co., Ltd. were awarded for their excellent performance in 2007.

Banquet of “Evening of Hyundai” was held after the meeting, the leaders of Hyundai and some representatives of dealers opened champagne together and toasted for the bright future.