On October 19, 2001, the board of directors of H&CB, on behalf of New Kookmin, have ratified and approved the application to list the securities of the new bank to be established on the New York Stock Exchange (“NYSE”) pursuant to the Merger Agreement between H&CB and Kookmin Bank (“New Kookmin”).

Agenda were submitted and resolved as follows:

• Application for listing of the securities of the New Kookmin and other related matters;

• Consent to convert New Kookmin common stock into New Kookmin American depositary shares;

• Issuance of New Kookmin’s American depositary shares; and

• Delegation of authorities and ratification of previous actions taken.

1. Securities to be listed

H&CB’s board of directors, on behalf of New Kookmin, ratified and approved the application to list the American depositary shares of New Kookmin to be issued in connection with the merger of H&CB and Kookmin Bank (“New Kookmin ADSs”), to cause such ADSs to be admitted to trading on the NYSE, and to list (but not for trading) on the NYSE up to 299,781,734 shares of the common stock with par value of Won 5,000 per share, to be issued by New Kookmin.

Number of New Kookmin ADSs to be registered with the Securities and Exchange Commission (“SEC”) is up to 200,000,000.

2. Estimated listing date

The estimated listing date for New Kookmin ADSs on the NYSE is November 5, 2001.

3. Others

One New Kookmin ADS is representing one underlying share of New Kookmin common stock. Accordingly, holders of H&CB American depositary shares will receive one New Kookmin ADS for every two American depositary shares they own.

On September 10, 2001 (Eastern Standard Time), the SEC has declared effective the registration statement for the contemplated merger between H&CB and Kookmin Bank.

The Bank of New York will act as the transfer agent and registrar for the New Kookmin ADSs.