Kosdaq Index Committee, Held On February 26, 2002, Confirmed 50 Index Constituents For Regular Review

Kosdaq 50 is a market capitalization weighted index for the largest 50 issues that represent the Kosdaq stock market. Since November 27, 2000, Kosdaq Stock Market Inc. has published the index for the purpose of offering a new benchmark, which can be also used as a basis for financial derivatives. The index was set at 100.00 with the base date of January 4,1999. Kosdaq 50 option and Kosdaq 50 future are currently traded in the Korea Futures Exchange.

Kosdaq Index Committee reviews Kosdaq 50 every six months and advises on Kosdaq 50 index rule. In order to be included in Kosdaq 50, an issue should meet liquidity conditions and have trading history of minimum six months. Exceptionally newly listed issues traded for three months or more can be inserted into the index if they record remarkably high in terms of market capitalization, trading value and turnover ratio.

The Committee of Feb 26 has decided that eight companies are replaced. Among the eight new comers, three are issues that were listed in 2001 and one of the three are comes under the case of exception. The newly added companies include: Kangwon Land, KOREIT, Daiwon CA, IBK, LeadCorp, KT Hitel, Kyobo SEC, C&C Enterprise. Constituent replacements will be effective from March 15, 2002.

The Kosdaq Stock Market was established in 1996 as South Korea's market for SME and venture firms. It lists 780 companies of which 181 were newly listed in 2001. For more information about Kosdaq, visit the Kosdaq website at http://www.kosdaq.or.kr/