Korea Exchange: After-Hours Trading Has Been Extended To 18:00 On May 30, 2005

Korea Exchange (KRX) has extended after-hours trading to 18:00 and introduced off-hours single price trading during which trades are to be executed every 30 minutes in an effort to eliminate the inconveniences caused by the suspension of ECN market operations scheduled for May 28, offer additional trading opportunities to investors, and accommodate various trading needs.

Closing Price Trading
- Current: 15:10~16:00
- New: 15:10~15:30 (Trading hours shortened)

Single Price Trading
- Current: No
- New: 15:30~18:00 (Newly adopted)

Block(Basket) Trading
- Current: 15:10~16:00
- New: 15:10~18:00 (Trading hours extended)

In After-hours single price trading, orders will be matched every 30 minutes, limiting price fluctuations within ±5% of the closing price of the regular trading session(without exceeding the maximum price fluctuations of the day).

The Random End scheme will be used to prevent traders from offering quotations that are not bona fide if the expected matching price fluctuates in excess of ±3%.

Random End is a mode of market operation intended to curb fake quotations by changing the deadline for receiving single price quotations for single price trading.

Additionally, the trading unit is one share as in the other after-hours trading markets, and only quotations at a designated price will be accepted in order to prevent severe price fluctuations in the after-hours trading market where liquidity is usually tight.

Continued efforts will be made to revise the regulations including easing the price rules to facilitate after-hours single price trading.

Effective Date: May 30, 2005 (Monday)