02 Message from CEO // 04 Layout / Facilities // 06 Quality Assurance // 08 Prestige Ships Created by HYUNDAI MIPO

 10 Shipbuilding // 16 Growth // 17 Organization // 18 Chronicle // 20 Welfare Facilities

 22 HYUNDAI-VINASHIN Shipyard // 23 Affiliated Companies // 24 Global Network
    04   PRESTIGE CREATOR                                                                                                                              PRESTIGE CREATOR-HMD   05

                                 9         11
                10                                                          6





                                       5            General Layout
                                                     1   Dock #1                            5   Quay #1                             9     Hull Shop

                                                     2   Dock #2                            6   Quay #2                            10     Blasting & Painting Shop

                                                     3   Dock #3                            7   Quay #3                            11     Main Office Building

                                                     4   Dock #4                            8   Quay #4                            12     Site Office Building

                                                                                                   No.1                  No.2           No.3                 No.4
                                                                                Dimension       380m x 65m          380m x 65m    380m x 65m            295m x 76m
                                                             Dock               Capacity        400,000 DWT         400,000 DWT   400,000 DWT           350,000 DWT
                                                                                 Crane                     200 Ton x 6                         200 Ton x 6
                                                                                                   No.1                  No.2           No.3                 No.4
                                                                                 Length            720 m                 195 m       870 m                   480 m

                   Layout Facilities
                                                             Quay                                30 Ton x 3
                                                                                 Crane                               20 Ton x 1    30 Ton x 4           Tower Cranes
                            /                                                                    20 Ton x 1
06   PRESTIGE CREATOR                                                                                                                                                                             PRESTIGE CREATOR-HMD   07


              Quality Assurance
                   HMD’ s policy is to actively meet all contract specifications and regulations,
                                                                                                                                                            100 %
                   in addition to satisfying every client’s needs. HMD’s quality assurance system is                                                          Satisfaction
                   designed, organized and implemented to ensure its strict quality standards.
                   HMD’s system is acknowledged world-wide by scores of national & international                                            Zero-Defect                        Speedy & Perfect
                                                                                                                                            Construction                       Warranty Service
                   designing and manufacturing organizations. HMD has received
                   ‘International Integration Management System Certificates for ISO 14001 & OHSAS 18001’.
                   HMD’s well-developed resources for training continue to provide its clients
                   with reliable high quality products and better services.

                                                        HMD will continuously implement and further develop its
                                                        ‘Quality Assurance System’ to achieve a higher level of quality for its products.
                                                        HMD manages SPAS 100 system in a web-branch service center,
                                                        which means ”Speedy & Perfect After Service to the 100% satisfaction of
                                                        our customers”. HMD, therefore, can provide to its customers a real
                                                        time progress of guarantee claims, spare parts forwarding and lifetime service.
Prestige Ships Created by HYUNDAI MIPO   HMD has been acknowledged as one of the leading and most versatile shipbuilders in
                                         the sectors of medium-sized conventional ships and specialized vessels.
                                         Especially, HMD has achieved world-wide recognition for its Medium-Ranged Product / Chemical
                                         Tankers and Handy~Panamax size Containerships, with optimized
                                         superior specifications and unchallenged quality gained by the competent
                                         design staff and the highly qualified workforce.

                                         Moreover, an unequalled flexibility based on HMD’s customer-oriented marketing
                                         policy to meet the various requirements of buyers, is another of HMD’s advantages, which
                                         has led to its current leading position in the market.
                                                                                                                                                                          PRESTIGE CREATOR-HMD   11

                                                              HMD is internationally recognized for its excellence in shipbuilding and is tailored to customer demand.
                                                              Since its entry to newbuilding, HMD has delivered more than 320 ships, aggregating some
                                                              12 million DWT. HMD has relationships with 82 shipowners from 28 countries all over the world.
                                                              HMD will always move toward the future and hopes to share its vision of a bright future with customers.

Product / Chemical Tanker // Container Ship // Bulk Carrier
                  Ro-Ro Vessel // Pure Car & Truck Carrier
                      LPG Carrier // General Cargo Carrier
                      Offshore Vessel // Specialized Vessel

                                                                              Ship Type                               Coverage
                                                                              Product / Chemical Tanker               13,000~75,000 DWT
                                                                              Container Ship                          1,800~4,500 TEU
                                                                                                                      Handy ~ Supramax
                                                                                                                      General Cargo Carrier
                                                                              Bulk Carrier
                                                                                                                      Multi Purpose Cargo Carrier
                                                                                                                      Self-Unloading Bulk Carrier
                                                                                                                      10,800 DWT Ro-Ro
                                                                              Ro-Ro Vessel
                                                                                                                      24,000 / 29,000 DWT CON-Ro
                                                                              Pure Car & Truck Carrier                3,500 / 6,500 UNITS
                                                                              LPG Carrier                             20,600 / 35,000 m3
                                                                              Offshore Vessel                         Drill-Ship, FPSO, Cable Layer, Pipe Layer
                                                                              Specialized Vessel                      Car Ferry, Totally Enclosed Forestry Carrier, etc
12   PRESTIGE CREATOR                                                                                        PRESTIGE CREATOR-HMD   13

                        Product / Chemical Tanker
                        HMD is the best shipbuilder in the shipbuilding of product / chemical tankers ranging from
                        13,000 DWT to 75,000 DWT. HMD’s market share is more than

14   PRESTIGE CREATOR                                                                                                                                                                                                       PRESTIGE CREATOR-HMD   15

                                                                                                                   High Value-added Vessel
                                                                                                                   HMD has a portfolio of high value-added vessels with a maximization of design capacity.
                                                                                                                   As a part of ship type diversification, HMD entered into the new market for
                                                                                                                   LPG Carriers in 2006, PCTC & Ro-Ro Vessels in 2007.

                                                                                                                                                                                                                          Bulk Carrier
                                                                                                                                                      As well as building Bulk Carriers (Handysize ~ Supramax) to carry bulk freights,
                                                                                                                                        HMD has delivered Multi Purpose Cargo Carriers and Self Unloaders. HMD is ready to deliver
                                                                                                                                                                        the new ship type, General Cargo Carriers with open hatches.

               Container Ship
               HMD is specialized in medium-sized container ships (1,800 ~ 4,500 TEU) :
               almost 100 container ships have been ordered at HMD. Container ships built by HMD offer a service
               speed of 21 ~ 24 knots, the fastest speed available for medium-sized container ships.
                                                                                                                   Offshore / Other Vessels
                                                                                                                   Starting with the new building in 1996, HMD has succeeded in delivering Offshore Vessels,
                                                                                                                   including Drillships, Cable Laying Vessels, Pipe Laying Vessels, FPSO and other specialized vessels.
                                                                                                                   HMD will strive to enter into the offshore market again in the near future.
16   PRESTIGE CREATOR                                                                                                                                                                                                                                                          PRESTIGE CREATOR-HMD   17

              Growth                                                                                                                                                Organization
                   Hyundai Mipo Dockyard has showed remarkable growth since 2003.
                   This is attributable to the success of its shipbuilding business diversification, while consolidating
                   its prime position in Medium-Range Product / Chemical Tankers, and earning a stellar reputation in
                   Sub-Panamax Containerships. HMD has continued to evolve; not satisfied at taking over half of the world's                                                                                             President & CEO
                   Product / Chemical tanker and mid-size containership new-building market, HMD challenges to get involved
                   more keenly in building other high value-added vessels. Actively anticipating changes in the market,
                   HMD entered into the LPG carrier market in 2006 and the PCTC and                                                                                                                                                                Hyundai-Vinashin Shipyard in Vietnam
                   RO-RO vessel markets in 2007.

                                                                                                                                                             Sales Division
                            3,500                                                                     140
                                                                                                                                                             Sales Department
                                                                                                                                                             Contract Administration Department                                                    Safety & Quality Control Division

                            3,000                                                                     120

                                                                                                                                                             After Sales Service Department                                                        Safety & Health Department
                            2,500                                                                     100
                                                                                                                                                                                                                                                   Quality Management Department

                            2,000                                                                      80                  92


                            1,500                                                                      60

                            1,000                                                                      40                                                                          Design and Engineering Division

                                                                                                                                                                                                Ship Design Department                                              Administration Division

                             500                                                                       20
                                                                                                                                                                              Initial Planning & Estimation Department                                                   Personnel Department
                                 0                                                  2007                0                                      2007
                                                                          2006                                                          2006                                                                                                                        General Affairs Department
                                                                2005                                                             2005
                                                                                                                          2004                                                                                                                                             Finance Department
                                                                                                                                                                                                                                                      Material Purchasing / Control Department
                           Turnover (U.S. dollars Million)                                            Number of Ships Ordered
                                                                                                                                                                                                                         Production Division
                                                                                                                                                                                                                         Construction Department





                                                                                                      250                                                              Project & Production Planning Division

                            40                                                                                                                                          Project & Production Planning Department

                                                                                                                                                                        Information Technology Department





                             0                                                                 2008                                                   2008
                                                                                  2007                  0                                      2007
                                                                        2006                                                            2006
                                                              2005                                                               2005
                                                    2004                                                                  2004
                                      2003                                                                         2003

                           Number of Ships Delivered                                                  Number of Backlog
                                                                                                      (2003~2007 : As of the year-end, 2008 : As of March)
18   PRESTIGE CREATOR                                                                                                                                                                                                           PRESTIGE CREATOR-HMD   19

                   For over three decades HMD has been accomplishing things once thought to be theoretically and
                   scientifically impossible through unwavering determination and endless efforts.
                   The key to our success lies in the “Hyundai Spirit" that
                   was embodied by the founder Chung Ju-Yung.

                                                               Before                            After 9 Months                     Now

               1975        Establishment                        1980s                                  1990s                                                      2000s
                                                                                                                                                                                                            ...and our journey continues
                                                       1981 Selected as Best Top 10          1990 The number of Shiprepair and      2001 Selected as the World’s Best   2005 Selected as ‘Overall Most
                                                       Company for Productivity              Conversion reached 3,000 vessels.      Shipbuilder by Lloyd’s List         Improved Company for Best
                                                       Improvement by Korea                  1995 Repair experience of more         Maritime Asia.                      Management Practices in Korea’
                                                       Productivity Center.                  than 6,000 vessels.                    2002 Delivery of a Korea-Japan      from Asiamoney.
                                                       1982 Construction of                                                         Line Passenger Ferry,               Awarded 2005 Value Innovation
                                                                                             1996 Entered into
                                                       New Shipyard.                                                                the first one built by              Award by Korea Ministry of
                                                                                             Newbuilding market.
                                                                                                                                    a Korean Shipyard.                  Commerce, Industry and Energy.
                                                       1983 The number of                    Establishment of Hyundai-Vinashin
                                                       Ship-repair and Conversion                                                   2003 Granted International          Sub-Panamax Containership
                                                                                             Shipyard Co., Ltd. (HVS) in Vietnam.
                                                       reached 2,000 vessels.                                                       Integration Management System       selected as ‘World-class Product’
                                                                                             1997 Accreditation of ISO 9001                                             by Ministry of Commerce, Industry
                                                       Delivery of 3 Asphalt Carriers                                               Certificates for ISO 14001 &
                                                                                             from the Lloyd’s Register.                                                 and Energy, Republic of Korea.
                                                       and 1 Cable Layer.                                                           OHSAS 18001.
                                                                                             Contracts for an FPSO and                                                  2006 Awarded “The Most Respected
                                                       Listed in Korea Stock Exchange                                               Medium-ranged Product Tanker
                                                                                             two Drillships.                                                            Company” by the Korean
                                                       with Initial Public Offering.                                                selected as ‘World-class Product’
                                                                                             1998 Awarded 1998 Korean               by Ministry of Commerce, Industry   CEO Association.
                                                                                             Management Grand Prize .               and Energy, Republic of Korea.      Contracts for LPG Carriers.
                                                                                             1999 Awarded 1999 Quality and          2004 Delivery of the 100th          2007 Contracts for PCTC
                                                                                             Safety Management Grand Prize.         Newbuilding vessel.                 and Ro-Ro Vessels.
                                                                                             Selected as the World’s Best           Groundbreaking for a New Block      The 300th vessel delivered.
                                                                                             Shiprepair Yard by Lloyd’s List        Fabrication Shop in Daebul          New building accumulated
                                                                                             Maritime Asia.                         Industrial Complex.                 10,000,000 DWT.
                                                                                             Opening of HVS.                        Awarded the “$1 Billion Export”     Awarded the “$2 Billion Export”
                                                                                                                                    prize by the Korean Government.     prize by the Korean Government.
                                                                                                                                                                        Awarded “CEO of the year” by
                                                                                                                                                                        Maekyoung Business Daily.
20   PRESTIGE CREATOR                                                                                                                PRESTIGE CREATOR-HMD   21

              Welfare Facilities
                   HMD provides its employees, foreign residents, and visitors with accommodations
                   and recreational facilities for a more comfortable life and stay. Long-term foreign residents are supplied with
                   housing at the Foreigners’ Compound. HMD, with HHI Group, also operates a guest house,
                   a luxurious hotel, bungalows, apartments of various sizes, bachelor dormitories, a general hospital,
                   a gymnasium, a recreation center, department stores and other facilities.
                   These amenities help our employees and residents from all over the world to enjoy a more convenient,
                   healthy lifestyle. A number of activities are also arranged at HMD to promote pleasant,
                   harmonious relationships among people.
22   PRESTIGE CREATOR                                                                                                                                                                                                                                       PRESTIGE CREATOR-HMD   23

              HYUNDAI-VINASHIN Shipyard Co., Ltd.                                                                                                   Affiliated Companies
                   Hyundai Vinashin Shipyard Co., Ltd. (HVS), a joint venture between HMD of Korea and                                               Hyundai Heavy Industries Co., Ltd.
                   Vietnam Shipbuilding Industry Corporation (VINASHIN) of Vietnam, was established on 30th September 1996.                          Hyundai Heavy Industries (HHI), the world's number one shipbuilder, leads the global
                   HMD has devolved its ship repair and conversion business to HVS with its invaluable know-how and                                  shipbuilding industry with a 15% share of the market. HHI stretches over five kilometers
                   experience gained from 30 years’ repair and conversion business.                                                                  along the coast of Mipo Bay in Ulsan, Korea. The company is capable of building all types of
                   Since its operation in 1999, HVS managed by HMD, has repaired more than 860 various type of vessels and                           ships to meet various demands from its clients.
                   completed numerous heavy damage repairs, including Offshore Units (Platform), upgrading & life extension
                                                                                                                                                     It has nine (9) large-scale dry docks with six huge 'Goliath Cranes'. Since the shipyard's groundbreaking in
                   works, elongation of PCTC and conversion of Bulk Carriers.
                                                                                                                                                     1972, HHI has garnered many awards and set many records within the shipbuilding industry.
                   Accumulating state-of-the-art new building technologies and skills through conversions and
                                                                                                                                                     HHI reached the 10 million dwt production mark, and reached the milestone of 20 million dwt in 1988,
                   general repairs, HVS has entered into new building in 2008.
                                                                                                                                                     30 million dwt in 1991, 40 million dwt in 1994, 50 million dwt in 1997, and 100 million dwt in 2005.
                                                                                                                                                     HHI has delivered more than 1,300 ships to 233 shipowners in 45 countries since 1972.

                                                                                                                                                     Hyundai Samho Heavy Industries Co., Ltd.
                                                                                                                                                     Hyundai Samho Heavy Industries (HSHI) has the fifth-largest manufacturing capacity
                                                                                                                                                     in the world and succeeded in making its first profit in 2001 with maximum expertise in order
                                                                                                                                                     acceptance via the Hyundai business line since 1999.
                                                                                                                                                     Featuring a qualified workforce and highly educated personnel, the shipyard is
                                                                                                                                                     achieving remarkable improvements in productivity and quality. Since full-scale operations began in 1995,
                   Major Facilities [Dock & Quay]
                                                                                                                                                     HSHI has successfully built and delivered over 110 vessels, including VLCCs, 4,000 TEU
                        Dock        Capacity     Dimension (m)      Crane              Quay            Length / Depth (m)          Crane
                                                                  250 Ton x 2    No.1 (Dolphin East)         500 / 8             30 Ton x 2          Containerships, Suezmax Tankers, Aframax Tankers, Capesize Bulk Carriers and other vessels.
                        No.1        80,000 DWT    260 x 45 x 13
                                                                  30 Ton x 1     No.2 (Dolphin West)         500/ 8              20 Ton x 1
                                                                                                                                                     HSHI continues full efforts to provide high quality vessels to clients and to move
                                                                                                                              30 Ton x 1 (Jib)
                                                                  450 Ton x 1           No.3                 250/ 8
                        No.2       400,000 DWT    380 x 65 x 13   80 Ton x 1
                                                                                                                            150 Ton x 1 (Crawler)    toward a brighter future as a reliable partner.
                                                                  30 Ton x 1            No.4                 100/ 8         150 Ton x 1 (Crawler)
24   PRESTIGE CREATOR                                                                                                                                                                  PRESTIGE CREATOR-HMD   25

                   Global Network
                             HEAD OFFICE & SHIPYARD         OVERSEAS OFFICE                   OVERSEAS AGENT
                             HEAD OFFICE & DOCKYARD         LONDON                            BRAZIL                             INDONESIA                        PAKISTAN
                             ULSAN 682-712, KOREA           5-17 HAMMERSMITH GROVE,           AVENIDA RIO BRANCO 45, ROOM 2512   WISMA BSG 7TH FLOOR,             GOKAL CHAMBERS BEACH HOTEL ROAD
                             tel (82-52)250-3031~3040       LONDON, W6 0LG, U.K.              CENTRO CEP 20.090-003,             JL ABDUL MUIS NO. 40             34/A-5 LALAZAR DRIVE
                             fax (82-52)250-3056            tel (44-20)8600-7133~5            RIO DE JANEIRO, RJ - BRAZIL        JAKARTA 10160, INDONESIA         KARACHI-74000,
                             e-mail         fax (44-20)8748-5049              tel (55-21)2516-9359               tel (62-21)350-5350              PAKISTAN
                                     e-mail           fax (55-21)2516-9093               fax (62-21)380-3615              tel (92-21)561-1001
                                                                                                                                                                  fax (92-21)561-0760
                             SEOUL OFFICE                   ATHENS                            FRANCE                             ISRAEL
                             15TH FL., HYUNDAI BLDG.,       73, POSSIDONOS AVE, EDEN MARE     CJP FANGA                          LIBIS ENGINEERING LTD.           TAIWAN
                             140-2, KYE-DONG, CHONGRO-KU,   COMPLEX, PALEO FALIRO,            78 RUE JEAN DE LA FONTAINE         8 AVIGDOR HAMEIRI ST.,           EUROASI ENGINEERING &
                             SEOUL 110-793, KOREA           ATHENS 175-62, GREECE             75016 PARIS,                       HAIFA 35500,                     TRADING CO., LTD.
                             tel (82-2)746-8647             tel (30-210)428-2994/5            FRANCE                             ISRAEL                           5FL-3 NO. 167 SEC. 5,
                             fax (82-2)746-8625             fax (30-210)428-2630              tel (33-612)783-010                tel (972-4)833-5764              MIN SHEN EAST ROAD TAIPEI,
                                                            e-mail            fax (33-140)280-966                fax (972-4)831-2631              TAIWAN
                                                                                                                                                                  tel (886-2)2760-5066
                                                            DUBAI                             GERMANY                            ITALY                            fax (886-2)2761-1210
                                                            OFFICE NO. 304-B AL SALEMIYAH     ERNST RUSS GMBH & CO. KG           BANCHERO COSTA & C. AG. MAR.
                                                            TOWER, DEIRA, DUBAI, U.A.E.       ALSTERUFER 10                      S.P.A. 2, VIA PAMMATONE          TURKEY
                                                            tel (971-4)229-3496               20314 HAMBURG,                     16121, GENOA, ITALY              TURMAR MARINE SURVEY CONSULTANCY
                                                            fax (971-4)229-3498               GERMANY                            tel (39-10)563-1628/9            & SHIPPING INC.
                                                            mobile (971-50)840-3112           tel (49-40)41407-273               fax (39-10)563-1602              INONU CAD. TURABOGLU SOKAK
                                                            e-mail          fax (49-40)41407-117                                                HAMDIYE YAZGAN IS MERKEZI NO. 4 K. 3
                                                                                                                                 THE NETHERLANDS                  KOZYATAGI 81080 ISTANBUL,
                                                            TOKYO                             HONG KONG                          EMHA TECHNISCH BUREAU B.V.       TURKEY
                                                            8TH FL., YURAKUCHO DENKI BLDG.,   ASIAN MARINE SERVICES LTD.         RINGDIJK 520A                    tel (90-216)411-4575
                                                            1-7-1 YURAKU-CHO,                 ROOM 1809-10 TAI YAU BUILDING      P.O.BOX 54 2980 AB RIDDERKERK,   fax (90-216)302-5087
                                                            CHIYODA-KU, TOKYO,                NO. 181 JOHNSTON ROAD WANCHAI,     THE NETHERLANDS
                                                            100-0006, JAPAN                   HONG KONG                          tel (31-180)484-343
                                                            tel (81-3)3212-7941/2             tel (852)2539-5011                 fax (31-180)418-581
                                                            fax (81-3)3213-8055               fax (852)2539-5800
                                                            SINGAPORE                         SEA CRESTS SHIPPING
                                                            7 TEMASEK BOULEVARD #41-02        611-SAI CHAMBERS 6TH FLOOR
                                                            SUNTEC CITY TOWER 1               OPP. SANTACRUZ STATION (EAST),
                                                            038987 SINGAPORE                  MUMBAI 400 055, INDIA
                                                            tel (65)6332-1011                 tel (91-22)6678-0973
                                                            fax (65)6332-1022                 fax (91-22)6678-0974
1381, Bangeo-dong, Dong-gu,
Ulsan 682-712, Korea
tel +82-52-250-3031~3040
fax +82-52-250-3056

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