SAIC SSANG YONG Motor: main business profits while net profit loss of 1.6 b

Yesterday, SSANG YONG Motor released 2006 business data in Korea Stock Exchange (unaudited), the Company profits recovered from losses, and recurring profit loss was slightly lower than in 2005; But according to the relevant provisions of South Korean accounting standards, one off surplus income tax assets amounted to 138.2 billion won, and net profit loss amounted to 196 billion won in 2006 (1.638 billion yuan).

This is the first gain for Ssangyong profits ever since SAIC shares purchasement completed in January 2005.

In 2006, Ssangyong Corporation plans to revitalize the vehicle production and management, including reducing procurement and development costs through synergy effect with SAIC, improving operational efficiency; enriching product variety and upgrading products.