ROBERT F. COSMAI NAMED ACTING PRESIDENT AND CHIEF EXECUTIVE OFFICER HYUNDAI MOTOR AMERICA

FOUNTAIN VALLEY, Calif. Sept. 2, 2003 – It was announced today that Robert F. Cosmai has been named Acting President and Chief Executive Officer of Hyundai Motor America (HMA). Cosmai had previously served as Vice President of National Sales.

Cosmai will be responsible for implementation of strategic direction and the management of the company’s operations.

Cosmai said “I appreciate HMC’s confidence in me. The continuation of American management responsibility for the operations of Hyundai in the United States is an important part of how we will continue to grow the brand and sales here in the hotly competitive American market place.”

“I’m very excited about the prospects for growth Hyundai has and extremely enthusiastic as I begin my work with dealers and employees in taking Hyundai to the next level,” Cosmai said.

Cosmai joined Hyundai Motor America in October 1998. In his more than 30-year automotive industry career, Cosmai has held management and sales positions with Ford, Nissan, Mazda and Acura.

Hyundai Motor America, based in Fountain Valley, Calif., is a subsidiary of Hyundai Motor Company of Korea. Hyundai cars and sport utility vehicles are distributed in the United States by Hyundai Motor America and are sold and serviced through more than 600 dealerships nationwide.

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