Hyundai Motor Company 27 January 2006 HYUNDAI MOTOR COMPANY (HMC) Corporate Disclosure to Korea Stock Exchange Disclosure date : January 26, 2006 Disclosure title : Resolution of Cancellation of Grant of Stock Option 1. Cancellation Details - Number of person canceling grant : 4 person - Type and number of cancelled shares: 6,650 shares of registered common stock 2. Details of Cancelled Shares : - Date of Grant: February 14, 2003 - Exercise Period : February 14, 2006 February 13, 2011 - Exercise Price : KRW 26,800 3. Status of stock options granted after cancellation : - Number of Grant : 112 persons - Number of shares : 1,235,904 shares of registered common stock 4. Reason for cancellation of grant : Voluntary retirement - Basis for cancellation : Article 84 section 6.8 of the securities and exchange law and article 7 section 3.7 of the articles of incorporation of Hyundai Motor Company. 5. Date of Board Resolution : January 26, 2006 - Attendance of Outside Directors : 3 out of 4 - Attendance of auditors(who are not Ouside Directors): - * Hyundai Motor Company!s audit committee members are all ouside directors (3 out of 3 were present) 6. Persons canceling stock option / number of common shares : Relationship with Cancelled shares Remarks company Common shares Prefered shares Johng Sik Choi Unregistered officer 854 - resignation Jong Ryul Shin Unregistered officer 754 - resignation Choong Yong Kim Unregistered officer 3,781 - resignation Bok Kil Unregistered officer 1,261 - resignation Cheon Total - 6,650 - resignation This information is provided by RNS The company news service from the London Stock Exchange