On November 16, 2001, the board of directors of Kookmin Bank approved and ratified the resolution to grant stock options as follows:

1. Grantees

• Kim, Sanghoon, Chairman: 150,000 registered common shares of Kookmin Bank

• Kim, Jungtae, President and CEO: 500,000 registered common shares of Kookmin Bank

The CEO will also have the option to purchase an additional 200,000 shares if the average closing price of Kookmin Bank’s stock between August 17, 2004 and November 16, 2004 (or during the three months period prior to his resignation if he resigns before his term) is higher than the stock prices of any other bank listed on the Korea Stock Exchange.

2. Exercise method

The Bank may choose to grant shares by means of: 1) issuing new shares; 2) granting treasury shares; or 3) granting cash or treasury shares for the difference between the exercise price and the market price.

3. Exercise price

The price will be calculated pursuant to the relevant rules and regulations.

4. Exercise period

The Exercise period is from November 17, 2004 to November 16, 2007.

5. Adjustment of the exercise price and the number of options

In the event of any capital increase, stock dividend, transfer of reserves to capital, stock split, reverse split, or merger, which require adjustments of the price or the numbers of stock after the option grant date, the board of directors shall adjust the number of options and the exercise price to reflect the changes.