We are pleased to announce that Cosmo Oil Co., Ltd. (hereinafter "COSMO"; headquarter: Minato-ku, Tokyo, Japan; President & Representative: Yaichi Kimura; Share capital: JPY 107.2 billion) and Hyundai Oilbank Co., Ltd. (hereinafter "HDO"; headquarter: 640-6 Daejuk-ri, Daesan-eup, Seosan-si, Chungchongnam-do, Korea; President and CEO: Young Tae Seo) have entered into a Joint Venture Agreement (hereinafter "JVA") for the establishment of a joint venture company (hereinafter "JVC") to undertake the paraxylene business in relation to a previously entered into Memorandum of Agreement announced on June 9, 2009. Outlined below are the main contents of this JVA.
1.Signing of JVA in relation to the paraxylene business1.Signing date of JVAOctober 1, 20092.SignersCOSMO (President & Representative: Yaichi Kimura)HDO (President and CEO: Young Tae Seo)