1. PRESENTATION April 2005 A global leader in building a better tomorrow

2. Company Overview  Established in 1947  The Top Korean Contractor  Recognized as an International Leading General Contractor for over 30 years  ENR Report 2004  23rd largest contractor world-wide  6th in the Middle East  8th in Asia  Homepage : www.hdec.co.krwww.hdec.co.kr

3. Hyundai’s Manpower Strength Hyundai’s Manpower Strength Safety & QA/QC Management & Administration Engineering (HEC: subsidiary) Construction & Fabrication Commissioning & Others DISCIPLINE TOTAL 648 316 1,067 2,356 289 4,676

4. Overseas Experiences Overseas Experiences By Work Categories (1965 ~2004) (7Prj) (5Prj) (6Prj) (1Prj) (2Prj) (1Prj) (2Prj) (5Prj) (3Prj) (7Prj) 1,226 Mil 668 Mil 853 Mil 500 Mil Total 598 Projects U$ 47,239 Mil Total 598 Projects U$ 47,239 Mil Since advancing into the overseas market in 1965, HDEC has gained international recognition as a global leader

5. Financial Highlights 2004 20032002 U$ 6,706 Mil U$ 5,931 Mil U$ 5,734 Mil New Orders Revenue U$ 3,164 Mil U$ 1,287 Mil U$ 4,451 Mil U$ 2,875 Mil U$ 4,544 Mil U$ 2,702 Mil U$ 1,599 Mil U$ 4,301 Mil U$ 1,670 Mil Domestic Overseas Total Revenue 2004 20032002

6. Hyundai’s Scope of Services Providing the complete spectrum of project implementation services, from the initial feasibility studies to the final start-up, operation and maintenance  General Contractor for EPC Lump-sum Turnkey Business  General Contractor for EPC Lump-sum Turnkey Business  Project Management  Project Management  Engineering and Design  Engineering and Design  Procurement  Procurement  Construction  Construction  Plant Start-up, Operation, Maintenance & Training  Plant Start-up, Operation, Maintenance & Training  Technical and Economic Feasibility Studies  Technical and Economic Feasibility Studies  Consulting Services  Consulting Services

7. Business Lines Business Lines  Worldwide Position By ENR 2004  Heavy Civil Works  The largest in Marine & Port Facilities  Oil & Gas, Petrochemical  9th Largest in Oil & Gas / Petroleum  Power & Industrial Plants and Transmission & Distribution  23rd Largest in Power Generation  5th Largest in Transmission & Distribution  Buildings  22nd Largest in General Building

8. Heavy Civil Works Heavy Civil Works Dredging & Reclamation Harbor & Marine Work Land Transportation Water Resource Development Based on its technological competence and more than 50 years of experience, HDEC entertains its reputation in the international construction industry. -New Oil Pier at MAA Refinery, Kuwait -Jubail Industrial Harbor, Saudi Arabia

9. Oil & Gas, Petrochemical HDEC has been recognized as one of the best plant engineering and construction contractors HDEC has successfully completed the world largest gas processing plants in Iran largest gas processing plants in Iran -South Pars Gas Processing Plant Ph. 2 & 3 -South Pars Gas Processing Plant Ph. 4 & 5 Oil & Gas Production Gas Processing Gas Compression & Transmission Oil Refinery Petrochemical Fertilizer & Chemicals Oil Terminal & Distribution

10. Power Generation Power Generation HDEC takes the lead in the development of clean energy for a clean environment and a high quality of life HDEC has successfully completed 83 projects around world (total 45,186 MW) -Meghnaght 450MW CCPP, Bangladesh -Termo Norte 340MW CCPP, Brazil CCPP Thermal Hydro Cogeneration Geothermal Diesel Desalination Nuclear

11. Buildings Buildings Artistry, state-of –the-art functionality, and the ability to withstand time, these three requirements go into each and every HDEC building. -Four Season Hotel at Cairo, Egypt -Ministry of the Interior, Saudi Arabia -Changi Airport, Singapore Super High-rise Intelligent Building Housing & Apartment Public Building Hotel Hospital

12. Contact Points Contact Points Head Office (Seoul, Korea) Address: 140-2, Kye-dong, Chongro-ku, Seoul, Korea Tel : + 82-2-746-3172 Fax : + 82-2-746-2528 New Jersey Office (U.S.A) Contact Point : Mr. T. W. Kim / General Manager Tel: + 1-201-816-4063 Fax : + 1-201-816-4070 E-mail: twkim@hdec.co.krtwkim@hdec.co.kr Contact Points in Head Office DivisionNameTitleE-mailTel No. Int’l Business DivisionD. J. YeoExecutive Vice Presidentdjyeo@hdec.co.kr+ 82-2-746-2508 S. C. ChaSenior Vice Presidentsccha@hdec.co.kr+ 82-2-746-3172 O. S. KwonGeneral Manageroskwon@hdec.co.kr+ 82-2-746-2511 Oil & Gas, PowerD. J. HanSenior Exe. Vice Presidentdjhan@hdec.co.kr+ 82-2-746-2339 Electrical WorksH. B. HanExecutive Vice Presidenthbh@hdec.co.kr+ 82-2-746-2407 Building WorksJ. K. KimExecutive Vice Presidentjkk1472@hdec.co.kr+ 82-2-746-2991 Civil WorksH. Y. KangExecutive Vice Presidentyong21@hdec.co.kr+ 82-2-746-4150