2004

1 4 5 7 11 15 18 21 45 47 52 94 1 94

1 QK18-2 18-2 43 8-11 2 CFD11-1/2 90 21-26 3 LD10-1 4 BZ25-1 BZ25-1 BZ25-1 150 19 5 HZ21-1B 160 115 6 LF13-2 7 NB35-2 110 12.2 8 PY30-1 200 9 PL19-3 19-3 10 JZ20-2 50 15-19 11 WHP Wellhead Platform 12 STT The Surface Tension Transfer 13 AUT Automatic Ultrasonic Technique 14 CEP Central platform 2 94

15 CFRE Contractor Furnished Reimbursable Equipment 16 CCS China Classification Society 17 DNV Det Norske Veritas 18 HSE Heathy Safety Environment 19 SPM Single Point Mooring 20 FPSO Float Production Storage and Offloading 21 TLP 22 SPAR 23 3D 24 Intools 25 EPCI Engineering design Purchase Construct Installation 3 94

1 OFFSHORE OIL ENGINEERING CO., LTD. CNOOC Engineering 2 3 4-396 022-25215878 022-25215565 llj@mail.cooec.com.cn 4 4-396 4-396 300451 http://www.cnoocengineering.com zqblx@mail.cooec.com.cn 5 http://www.sse.com.cn 6 600583 7 2000 4 20 248 2004 10 27 4-396 1200001000326 120118722950227 88 818 4 94

561,147,494.56 365,596,840.19 * 365,784,367.83 630,663,270.47 16,148.85 559,808,844.76 1,618,541.80 48,485.00-279,892.00 512,294,017.86 199,495,899.40 * 129,638.00 48,485.00 458,015.00-279,892.00-92,364.36-187,527.64 2004 2003 2002 3,487,502,020.87 2,053,897,722.08 1,733,885,317.15 365,596,840.19 196,453,348.88 132,668,684.32 2,659,217,983.47 2,093,752,972.73 1,961,445,271.08 1,794,333,097.70 1,456,236,257.51 1,284,450,408.63 / 1.11 0.71 0.53 / 5.44 5.30 5.14 / 5.44 5.28 5.14 / 1.55 1.71 0.79 % 20.38 13.49 10.33 % 22.54 13.49 11.33 5 94

9 35.15 38.86 1.91 1.91 31.20 34.49 1.70 1.70 20.38 22.53 1.11 1.11 20.39 22.54 1.11 1.11 275,000,000 746,588,376.12 95,228,708.06 42,676,056.54 339,419,173.33 1,456,236,257.51 55,000,000-54,840,594.51 18,280,198.17 365,596,840.19 475,437,434.70-27,500,000.00 - - 109,840,594.51 137,340,594.51 330,000,000 719,088,376.12 150,069,302.57 60,956,254.71 595,175,419.01 1,794,333,097.70 1 2003 10 1 1 10 1 275,000,000 330,000,000 2 2003 10 1 27,500,000.00 3 4 365,596,840.19 54,840,594.51 2003 10 1 1 55,000,000 255,756,245.68 5 6 94

1 * 187,000,000 18,700,000 18,700,000 37,400,000 224,400,000 2 3 4 187,000,000 18,700,000 18,700,000 37,400,000 224,400,000 1 88,000,000 8,800,000 8,800,000 17,600,000 105,600,000 2 3 4 88,000,000 8,800,000 8,800,000 17,600,000 105,600,000 275,000,000 27,500,000 27,500,000 55,000,000 330,000,000 * 15,923.38 57.9% 2003 9 28 2004 2 13 1 7 94

A 2002 1 21 9.6 / 80,000,000 19.6 2002 2 5 80,000,000 250,000,000 2 2003 9 23 2003 2002 250,000,000 10 1 2003 10 14 2003 10 16 2003 10 21 275,000,000 187,000,000 88,000,000 2004 4 19 2003 2003 275,000,000 10 1 1 10 1 2004 5 14 2004 5 18 2004 5 21 330,000,000 224,400,000 105,600,000 10,863 10 2004 12 31 (%) 1 191,080,560 191,080,560 57.9 2 5,331,722 31,990,332 9.69 3 6,361,398 6,361,398 1.93 4 3,510,926 6,242,315 1.89 5 2,504,270 6,033,170 1.83 6 3,895,019 5,900,112 1.79 7 4,904,213 4,904,213 1.49 8 3,501,483 3,501,483 1.06 9 3,435,300 3,435,300 1.04 10 3,397,613 3,397,613 1.03 8 94

1 5% 5% 2 10 3 5% 4 15,923.38 57.9% 2003 9 28 2004 2 13 1 2 3 1982 2 15 4 500 5 6 9 94

100% 100% 9.69% 0.41% 57.9% 10 2004 12 31 1 6,361,398 A 2 6,242,315 A 3 6,033,170 A 4 5,900,112 A 5 4,904,213 A 6 3,501,483 A 7 3,435,300 A 8 3,397,613 A 9 2,552,938 A 10 2,304,000 A 10 10 94

( ) ( ) 54 2004 2007 0 0 48 2001 2007 0 0 57 2004 2007 0 0 41 2004 2007 0 0 36 2004 2007 0 0 44 2004 2007 0 0 47 2004 2007 0 0 46 2004 2007 0 0 54 2004 2007 0 0 55 2003 2006 0 0 55 2003 2006 0 0 55 2003 2007 0 0 51 2000 2007 0 0 40 2000 2007 0 0 38 2002 2007 0 0 41 2001 2007 0 0 39 2001 2007 0 0 2002.8-2003.4-2003.4-2003.4-2003.4-2004.12 - MBA 1997-2001 - 1977-11 94

1999.9-2000.10 2000.10-2002.8 2002.8-2001.9-2002.2 1999.8-2001.4 2001.4-2001.12 2003.12-2001.2-2001.8 2003.4-2000.9-2001.6 2001.6-2001.9 2004.12-1997-2001 1977.9-2004 2001.9-2003.4 2001.3-2002.12 2004 1 2002.2-2001 5 2001.12-2003.12 2004 1 2000.1-2001.2 2001.8-2003.4 2002 4 2000.8-2002.7 2002.8-2003.4 2003.4-2004 1 2001.9-2004.12 2003 5 1997.10- MBA 2005 2002 4 2001-2002 4 2004-2002 4 2003.4-2003 9 2002.12-2003.5 2003.5-2003 9 12 94

1999.9-2003.8 2003.8-1997.5-2000.4 2000.4-1998-2000.4 2000.4-2000.4-2002.3 2002.3-2000.4-2001.2 2001.2-2000.4-2001.2 2001.2-1 2 8 141.07 41.83 59.66 20 ~22 3 16 ~18 3 12 ~16 2 4.2 13 94

2003 12 13 19 2004 1 14 2004 2004 1 14 2004 12 29 2004 12 31 2550 1 683 415 535 162 755 6% 30% 21% 27% 16% 2 277 572 34 1606 61 64% 2% 11% 22% 1% 14 94

15 94

1 8 8 0 0 8 8 0 0 8 8 0 0 2 16 94

2002 17 94

2003 2004 2004 1 2003 12 13 2004 2004 1 14 2004 6 189,702,062 68.98% 2 9 2004 1 15 2003 1 2004 3 9 2003 2004 4 19 2003 9 192,386,489 69.96% 2 1 2003 2 2003 3 5% 4 2003 18 94

5 2003 6 7 8 2004 9 2003 10 2003 11 2004 4 20 2004 1 2004 4 28 2004 2004 5 31 2004 3 232,811,843 70.55% 2 < > 2004 6 1 2004 1 2004 9 1 2004 2004 10 11 2004 19 94

5 225,129,094 68.22% 2 4-396 2004 10 12 2004 1 14 2004 20 94

2004 1.2 40% 2004 2003 2004 5 CCTV2003 9 11 2004 100 37 1 30 34.88 6.31 3.66 1.11 69.8% 127.96% 86.1% 55.08% 2002 2004 42.42% 49.63% 21 94

28.00 26.59 35.00 34.88 3.66 23.00 18.00 13.00 19.61 12.84 20.94 14.56 17.94 28.00 21.00 14.00 7.00 17.34 1.33 20.54 1.96 8.00 Y02 Y03 Y04 0.00 Y02 Y03 Y04 % 20 15 10.33 13.49 20.38 10 5 0 Y02 Y03 Y04 2 CFD11-1 BZ25-1 LF13-2 HZ19-3/2/1 HZ21-1B JZ20-2 PY30-1 QK18-2 CFD11-1 BZ25-1 NB35-2 18 QK18-2 19 CFD11-1 15 BZ25-1 WHPB/WHPD/WHPE 5 /15 /15 31 4 2005 1 LD10-1 62 2004 2003 77% 3D Intools 22 94

863 2003 76% 2004 87% 2003 12% 94% 2003 2.4% CFRE PL19-3 PY30-1 SES 3 23 94

4 LD10-1 5 25 8000 6 22 6500 CEP 8000 3800 8000 9 27 299 11 19 CCS DNV 2005 1 26 2006 24 94

5 6 TLP SPAR 863 25 94

2004 STT+INNERSHIELD BZ25-1 LD 3D LF13-2 1 LD AUT JZ20-2 BN SPM CFD11 10 10-1CEP 7 2005 3 8 QHSE 26 94

9 2003 3 2004 8 27 94

69.8% 85% 90% 90% 1 3,487,502,020.87 2,807,984,422.52 19.48 69.8 62.63 3.55 3,041,330,290.03 2,564,689,469.05 - - - - 2 3,471,998,767.19 2,804,695,422.97 621,160,477.6 70.82 72,124,151.57 60,246,732.88 9,320,398.21 235.69 4,680,027.00 4,343,191.56 182,394.66-41.30 1 1,365 3,720.69 931.28 95% 2,000 2,485.63 0.71 70 30 2 28 94

141,500 2002 6 2,500 1.77% 33,058.78 34.23% 336,473 96.48% 1 TLP SPAR 2 2006 20 25 8000 12 3 29 94

30 94

1 2002 1 8000 75,038 2004 71,968 3,070 2,555 75,038 71968 62,738 62,738 800KNM 2,700 2,667 350 2,000 1,963 4,600 9,010 * 3,000 0 75,038 76,378 * 2 1 2002 2 6 150 2500 3800 2 800KNM 2002 800KNM 1000 3 350 2002 350 31 94

4 9,010 4,600 4,410 2004 6 22 6500 CEP 3800 8000 5 1 299 7,324 2005 1 26 2 2005 1 27 9,500 2005 2 25 2 32 94

2004 12 31 2003 12 31 % 596,112,518.35 396,616,618.95 50.30 87,921,458.62 99,047,383.57-11.23 396,085,153.36 154,820,698.12 155.83 1,133,607,638.58 684,441,303.33 65.63 2,659,217,983.47 2,093,752,972.73 27.01 1,794,333,097.70 1,456,236,257.51 23.22 2004 2003 3,487,502,020.87 2,053,897,722.08 69.80 2,807,984,422.52 1,726,646,822.69 62.63 630,663,270.47 276,658,620.72 127.96 365,596,840.19 196,453,348.88 86.10 512,294,017.86 471,402,343.93 8.67 199,495,899.40 86,512,663.79 130.60 1 2 2004 12 31 3.04 467.13% 3 QK18-2 CFD11-1 BZ25-1 4 69.8% 3.55% 33 94

5 34 94

1 Y04 Y02 Y00 Y98 Y96 Y94 Y92 Y90-10000 0 10000 20000 30000 40000 50000 60000 70000 2004 6.94% 1.6% 2004 1.2 34.8% 4 1 2010 1.8-2 50% 2 2010 5000-5500 35 94

3 2005 2005 2005 12005 2 3 2005 BZ25-1 LD LF13-2 NB35-2 HZ21-1 CFD JZ20-2 PY DF PL19-3 SES QK17-2 PL19-3 PY30-1 NB35-2 7800T Float over 36 94

SES 4 5 6 2005 2004 7 2005 2005 2004 10% 2004 15% 37 94

8 1 2004 1 14 2004 1 16 2 2004 3 5 1 2003 2 2003 3 5% 4 2003 5 2003 6 2003 7 2004 8 2003 9 10 11 12 13 14 2004 15 2003 2004 3 9 3 2004 4 23 1 38 94

13,298 2 2004 2004 4 28 4 2004 7 19 5 2004 8 6 2004 6 2004 8 30 1 2 2004 2004 9 1 7 2004 10 21 2004 8 2004 11 30 1 2004 2 1 2005 1 27 2005 2 1 2 2005 2 25 2005 2 28 2003 2003 27,500 10 1 1.00 10 1 2,750 39 94

2,750 2,750 33,000 2004 5 10 2004 365,596,840.19 339,419,173.33 10% 5% 54,840,594.51 650,175,419.01 2004 5 27,500,000 27,500,000 2004 595,175,419.01 2004 33,000 10 1 1.00 10 1 39,600 12,672 3,300 529,175,419.01 2004 2004 2003 56 2004 1. 500 40 94

2 * * * 9.69% ( ) ACT OPERATOR S GROUP 0.40% * 24.78% 22.02% 11.11% 1 1 2 221,883,630.83 3,128,085,301.22 2,991,688,269.51 358,280,662.54 221,883,630.83 3,128,085,301.22 2,991,688,269.51 358,280,662.54 1,634,594.60 41 94

2 1 2 / (-) / (-) -71,911,168.24 2,355,949,226.66 2,235,281,957.35 48,756,101.07-13,773,574.29 325,035,270.80 267,918,228.74 43,343,467.77 5,450,000.00 9,080,000.00 9,080,000.00 5,450,000.00 195,199,757.37 103,692,025.95 91,507,731.42 ACT OPERATOR S GROUP 159,857,624.68 126,356,903.94 33,500,720.74-80,234,742.53 3,045,121,879.51 2,742,329,115.98 222,558,021.00 / 1 : 1 7,769,950.73 7,769,950.73 7,769,950.73 7,769,950.73 2 42 94

/ - / - 10,938,683.10 229,802,892.53 204,143,462.47 36,598,113.16 5,421,944.00 61,818,544.10 54,909,742.10 12,330,746.00 4,000.00 67,438,662.58 44,311,144.28 23,131,518.30 126,472.80 126,472.80 16,364,627.10 359,186,572.01 303,490,821.65 72,060,377.46 3 1-221,883,630.83 3,128,085,301.22 2,991,688,269.51 358,280,662.54 7,769,950.73 7,769,950.73 214,113,680.10 3,128,085,301.22 2,991,688,269.51 350,510,711.81 2-80,234,742.53 3,045,121,879.51 2,742,329,115.98 222,558,021.00 16,364,627.10 359,186,572.01 303,490,821.65 72,060,377.46-96,599,369.63 2,685,935,307.50 2,438,838,294.33 150,497,643.54 3 221,883,630.83 358,280,662.54 136,397,031.71 7,769,950.73 7,769,950.73 214,113,680.10 350,510,711.81 136,397,031.71 4-80,234,742.53 222,558,021.00 302,792,763.53 16,364,627.10 72,060,377.46 55,695,750.36-96,599,369.63 150,497,643.54 247,097,013.17 : 43 94

1 152,477.69 523,645.00 676,122.69 6,081,689.58 41,901.00 95,273.29 6,028,317.29 6,234,167.27 2 1,167,021.01 523,532.44 643,488.57 3 19,524,412.86 19,524,412.86 19,524,412.86 19,524,412.86 2003 56 2005 3 11 [2003]56 2004 2004 44 94

2 1 2004 3 5 2003 2004 3 9 2 2004 12 29 1 2004 2004 2 2005 3 2004 1 2004 2 2004 2001 45 94

800KNM 350 2002 9,010 4,600 4,410 46 94

1 ( ) 2,355,949,226.66 67.55 9,080,000.00 0.26 325,035,270.80 9.32 195,199,757.37 5.60 CACT 159,857,624.68 4.58 2 A. 54,410,015.22 15.61 832,030.58 0.24 B. 86,328,702.84 24.76 66,606,632.00 19.11 1,885,700.00 0.54 126,472.80 0.04 C. 59,932,844.10 17.19 D. 47 94

6,500,269.30 1.86 E. 56,411,229.85 16.18 F. 15,581,342.16 4.47 3 1 A. -58,688,563.72 25,947,453.50 0 5,450,000.00 43,318,467.77 43,343,467.77 B. 25,659,430.06 36,598,113.16 6,908,802.00 12,330,746.00 23,127,518.30 23,131,518.30 C. 0 7,769,950.73 2 48 94

1 2004 358,280,662.54 2 2004 2,784,925.93 3 2004 25,000,000.00 2,784,925.93 49 94

424,640.68 282,115.24 BZ25-1 17,600.00 17,600.00 CACT HZ21-1 48,646.86 12,244.66 CFD11 65,570.00 64,148.24 5% 1 2 2004 55 1 2004 4 19 2003 2003 275,000,000 10 1 1 10 50 94

1 330,000,000 224,400,000 105,600,000 2004 7 7 2 2004 10 11 2004 4-396 2004 10 27 3 2004 1 14 2004 4 2004 1 14 51 94

(2005) 2036 ( )2004 12 31 2004 2004 2004 12 31 2004 2005 3 11 52 94

: 1 596,112,518.35 396,616,618.95 2 87,921,458.62 99,047,383.57 3 6,545,625.15 2,020,941.33 4 42,086,154.93 31,872,382.82 5 4,821,281.21 6 396,120,600.32 154,883,976.66 1,133,607,638.58 684,441,303.33 7 25,085,614.92 25,101,667.72 25,085,614.92 25,101,667.72 85,614.92 101,667.72 8 2,254,404,492.55 2,003,921,080.95 8 801,666,055.49 665,604,125.20 1,452,738,437.06 1,338,316,955.75 1,452,738,437.06 1,338,316,955.75 9 35,376,629.23 28,913,366.91 1,488,115,066.29 1,367,230,322.66 10 12,409,663.68 11,559,789.68 11 5,419,889.34 12,409,663.68 16,979,679.02 2,659,217,983.47 2,093,752,972.73 53 94

: 12 9,153,967.05 19,639,300.83 13 454,296,443.99 173,672,804.43 14 194,696,225.12 355,068,896.82 32,393,068.63 27,434,071.46 3,842,831.57 179,887.56 15 139,401,591.55 28,637,658.17 16 1,369,061.72 398,131.22 17 24,665,068.74 26,767,959.54 859,818,258.37 631,798,710.03 18 4,303,230.57 5,420,250.85 864,121,488.94 637,218,960.88 763,396.83 297,754.34 19 330,000,000.00 275,000,000.00 330,000,000.00 275,000,000.00 20 719,088,376.12 746,588,376.12 21 150,069,302.57 95,228,708.06 60,956,254.71 42,676,056.54 22 595,175,419.01 339,419,173.33 33,000,000.00 27,500,000.00 1,794,333,097.70 1,456,236,257.51 2,659,217,983.47 2,093,752,972.73 54 94

: 2004 2003 1 3,487,502,020.87 2,053,897,722.08 2,807,984,422.52 1,726,646,822.69 2 48,854,327.88 50,592,278.67 630,663,270.47 276,658,620.72 16,148.85 105,143.97 3 73,922,746.24 50,340,691.44 4-3,052,171.68 2,003,432.36 559,808,844.76 224,419,640.89 5 1,618,541.80 577,462.35 48,485.00 129,638.00 258,665.46 458,015.00 180,876.00 561,147,494.56 225,074,892.70 6 195,085,011.88 28,886,451.61 465,642.49-264,907.79 365,596,840.19 196,453,348.88 339,419,173.33 197,595,609.39 705,016,013.52 394,048,958.27 36,560,396.34 19,753,189.96 18,280,198.17 9,876,594.98 650,175,419.01 364,419,173.33 27,500,000.00 25,000,000.00 27,500,000.00 595,175,419.01 339,419,173.33 55 94

2004 : 1 3,044,613,243.73 2 73,728,534.93 3 1 5,150,738.22 3,123,492,516.88 4 2,317,269,615.56 5 140,159,499.65 6 123,600,952.26 7 2 30,168,431.55 2,611,198,499.02 512,294,017.86 1 2 1,634,594.60 3 79,000.00 4 1,713,594.60 5 287,013,344.30 6 7 287,013,344.30-285,299,749.70 1 2 3 4 5 27,500,000.00 6 27,500,000.00-27,500,000.00 1,631.24 199,495,899.40 56 94

2004 1. : 365,596,840.19 465,642.49 21,168,246.59 140,151,009.72 1,702,514.00 4,727,969.04 306,945.68 81,947.00-1,618,541.80-263,316,481.53 : -6,773,028.91 : 249,882,902.39 512,294,017.86 2. : 3. 596,112,518.35 396,616,618.95 199,495,899.40 57 94

: 584,025,473.23 386,256,601.86 1 86,582,404.30 93,792,832.90 6,605,616.81 1,926,134.90 42,086,154.93 31,872,382.82 4,821,281.21 396,085,153.36 154,820,698.12 1,120,206,083.84 668,668,650.60 2 55,767,750.83 46,931,610.04 55,767,750.83 46,931,610.04 3 2,241,942,336.13 1,990,740,789.72 3 792,010,459.60 655,106,422.56 1,449,931,876.53 1,335,634,367.16 1,449,931,876.53 1,335,634,367.16 35,376,629.23 28,913,366.91 1,485,308,505.76 1,364,547,734.07 12,409,663.68 11,559,789.68 4,305,390.00 12,409,663.68 15,865,179.68 2,673,692,004.11 2,096,013,174.39 58 94

: 9,153,967.05 19,639,300.83 466,599,625.93 172,696,389.39 194,696,225.12 355,068,896.82 32,393,068.63 27,350,071.46 3,589,342.24 138,463,763.30 28,093,012.49 1,345,604.38 390,395.50 28,814,079.19 31,118,599.54 875,055,675.84 634,356,666.03 4,303,230.57 5,420,250.85 879,358,906.41 639,776,916.88 330,000,000.00 275,000,000.00 330,000,000.00 275,000,000.00 719,088,376.12 746,588,376.12 148,266,434.84 93,426,908.81 60,081,962.69 41,802,120.68 596,978,286.74 341,220,972.58 33,000,000.00 27,500,000.00 1,794,333,097.70 1,456,236,257.51 2,673,692,004.11 2,096,013,174.39 59 94

: 2004 2003 4 3,471,998,767.19 2,032,528,045.03 2,804,695,422.97 1,701,882,826.16 46,142,866.62 49,659,947.36 621,160,477.60 280,985,271.51 16,148.85 105,143.97 73,922,746.24 50,340,691.44-3,009,429.38 2,048,592.96 550,263,309.59 228,701,131.08 5 10,470,735.39-3,700,800.16 48,485.00 126,500.00 258,665.46 365,772.00 174,790.00 560,543,257.98 225,084,206.38 6 194,946,417.79 28,630,857.50 365,596,840.19 196,453,348.88 341,220,972.58 199,235,626.03 706,817,812.77 395,688,974.91 36,559,684.02 19,645,334.89 18,279,842.01 9,822,667.44 651,978,286.74 366,220,972.58 27,500,000.00 25,000,000.00 27,500,000.00 596,978,286.74 341,220,972.58 60 94

2004 : 1 3,024,939,821.94 2 73,728,534.93 3 5,088,397.70 3,103,756,754.57 4 2,304,667,704.78 5 137,702,897.38 6 121,157,793.40 7 29,938,480.23 2,593,466,875.79 510,289,878.78 1 2 1,634,594.60 3 79,000.00 4 1,713,594.60 5 286,736,274.30 6 7 286,736,274.30-285,022,679.70 1 2 3 4 5 27,500,000.00 6 27,500,000.00-27,500,000.00 1,672.29 197,768,871.37 61 94

2004 1. : 365,596,840.19 21,352,267.96 139,486,794.36 1,702,514.00 4,305,390.00 215,762.68-10,470,735.39-263,344,313.11 : -11,776,516.72 : 263,221,874.81 510,289,878.78 2. : 3. 584,025,473.23 386,256,601.86 197,768,871.37 62 94

1 ( ) ( ) 3632.26 4000 3864 2000 4 20 2 3 : 2002 2 2002 1 21 8000 2002 2 5 600583 2002 7 9 1200001000326 63 94

4 2003 25,000 10 1 27,500 8,800 2004 1 12 2003 27,500 10 1 2,750 10 1 2,750 5,500 2004 10 27, 5 15,923.38 57.91% 2003 9 28 2004 2 13 1 2 1 1 12 31 3 4 64 94

5 6 7 (1), (2) (%) 1 5 1---2 10 2---3 30 3---5 50 5 100 8 65 94

9 10 20% 20% 20% 50% 10 11 2000, 5-10%, 66 94

( ) (%) 20 4.5 5-10 9-18 5-15 6.33-18 12 3 13 14 15 16 17 (1) 67 94

(2) (3) (4) 18 19 50% 20 2003 27 1 [2004]1043 2004 1 1 [2003]46 [2003]249 2 3% 5% 3 7% 3% 1% 3% 4 2000 43 68 94

15% [2004]112 2004 33% 15% 15% 5 1 1,365 1993 7 95% 1,296.75 2,000 1995 10 70% 1,400 30% 2 141,500 2002 6 1.77% 2,500 2004 12 31 ( ) 1 51,998.36 24,103.05 596,025,260.56 396,569,178.85 35,259.43 23,337.05 596,112,518.35 396,616,618.95 69 94

5,085,917.89 8.2765 42,093,599.42 4,154,753.50 8.2767 34,387,648.29 9,329.70 1.0622 9,910.01 9,330.53 1.0657 9,943.55 358,280,662.54 221,883,630.83 2 1 5% 82,271,101.86 93.21% 70,476.54 88,262,025.64 87.96% 486,311.93 1-2 10% 5,450,000.00 6.17% 11,550,230.27 11.51% 637,023.03 2-3 30% 4,800.00 0.01% 1,440.00 454,946.60 0.45% 136,483.98 3-5 50% 534,946.60 0.61% 267,473.30 80,000.00 0.08% 40,000.00 88,260,848.46 100.00% 339,389.84 100,347,202.51 100.00% 1,299,818.94 1 2 3 85,711,571.00 97.11% 4 5%( 5%) 5,450,000.00 5,450,000.00 70 94

3 1 5% 6,324,306.09 95.56% 23,320.99 1,639,136.44 80.16% 20,689.93 1-2 10% 110,792.00 1.67% 10,611.80 403,034.82 19.71% 1,890.00 2-3 30% 183,274.81 2.77% 38,814.96 3-5 50% 2,700.00 0.13% 1,350.00 5 100% 6,618,372.90 100.00% 72,747.75 2,044,871.26 100.00% 23,929.93 1 2 2,239,078.81 33.83% 3 4 5%( 5%) 4 1 41,950,241.93 99.68% 31,867,869.82 99.99% 1-2 135,913.00 0.32% 2-3 3 4,513.00 0.01% 42,086,154.93 100.00% 31,872,382.82 100.00% 1 2 24,932,088.27 59.24 % 3 5%( 5%) 5 71 94

4,821,281.21 2004 1 1 6 71,550,250.85 2,612,307.46 103,081,477.99 3,239,773.10 349,889,980.44 22,707,323.51 55,042,271.77 421,440,231.29 2,612,307.46 22,707,323.51 158,123,749.76 3,239,773.10 1 2 / 3 2004 12 31 92,113,544.69 71,269,667.19 65,797,981.86 21 1B 33,500,720.74 25-1 21,466,731.44 C/D 20,128,366.86 304,277,012.78 4 3,239,773.10 627,465.64 2,612,307.46 3,239,773.10 627,465.64 2,612,307.46, 72 94

5 35-2EPIC 22,707,323.51 22,707,323.51 22,707,323.51 22,707,323.51 35-2EPIC 7 1 1.77% 25,000,000.00 25,000,000.00 25,000,000.00 25,000,000.00 2-39,413.97 10-3,941.40-21,020.75 199,941.90 10 19,994.20 106,635.67 160,527.93 16,052.80 85,614.92 8 2,254,404,492.55 2,003,921,080.95 801,666,055.49 665,604,125.20 1,452,738,437.06 1,338,316,955.75 A 73 94

195,802,720.00 7,113,118.19 202,915,838.19 1,359,088,755.76 179,360,851.41 530,000.00 1,537,919,607.17 449,029,605.19 68,847,637.00 4,308,195.00 513,569,047.19 2,003,921,080.95 255,321,606.60 4,838,195.00 2,254,404,492.55 B 44,430,340.76 19,844,504.85 64,274,845.61 403,329,418.84 74,986,655.81 498,000.00 477,818,074.65 217,844,365.60 45,593,398.95 3,864,629.32 259,573,135.23 665,604,125.20 140,424,559.61 4,362,629.32 801,666,055.49 C 1,338,316,955.75 114,897,046.99 475,565.68 1,452,738,437.06 1 2 405,675,743.15 3 4 5 9 BH105 444 2,311,495.63 2,311,495.63 75% 430 4,036,000.00 4,036,000.00 0.00 255 380,000.00 380,000.00 15 30 179 1,497,795.00 1,497,795.00 0.00 3M 350 1,858,800.00 1,858,800.00 50 7000T 4300 10,809,079.00 10,809,079.00 26 9696 73,241,000.00 73,241,000.00 0.00 74 94

660 1,980,000.00 4,620,000.00 6,600,000.00 0.00 263 1,410,000.00 1,410,000.00 0.00 135 1,350,000.00 1,350,000.00 0.00 8900 20,449,783.91 69,650,216.09 90,100,000.00 0.00 * 423 407,676.00 951,244.00 1,358,920.00 0.00 2304 15,631,560.31 15,631,560.31 95% 30000T 1,654,611.32 1,654,611.32 1906 1,226,411.77 1,226,411.77 10 7711 6,075,907.00 1,576,412.20 6,147,648.00 1,504,671.20 2 28,913,366.91 192,204,625.32 185,741,363.00 35,376,629.23 * 2003 4600 4,410 10 9,715,960.68 4,709,569.68 2,552,388.00 1,554,674.00 4,008,677.00 5,707,283.68 9-59 7,392,300.00 6,850,220.00 147,840.00 689,920.00 6,702,380.00 544 17,108,260.68 11,559,789.68 2,552,388.00 1,702,514.00 4,698,597.00 12,409,663.68 1 2 11 * 165,540.00 39,030.00 39,030.00 165,540.00 * 2,462,787.00 190,455.00 190,455.00 2,462,787.00 6,403,858.19 5,190,404.34 4,498,484.04 691,920.30 5,711,937.89 9,032,185.19 5,419,889.34 4,727,969.04 691,920.30 8,340,264.89 * 75 94

12 5,504,716,52 10,144,469.04 3,649,250.53 9,494,831.79 9,153,967.05 19,639,300.83 2,150,472.05 571,186.01 2005 3 15, 13 1 441,812,992.01 97.25% 164,572,487.99 94.76% 1-2 9,875,704.18 2.17% 7,553,927.51 4.35% 2-3 2,081,807.68 0.46% 1,343,865.78 0.77% 3 525,940.12 0.12% 202,523.15 0.12% 454,296,443.99 100.00% 173,672,804.43 100.00% 1 2 70,479,958.00 15.51% 2004 11 42,103,894.29 9.27% 2004 23,131,518.30 5.09% 2004 HYUNDAI HEAVY INDUSTRIES CO. LTD 16,729,119.78 3.68% 2004 16,660,029.36 3.67% 2004 169,104,519.73 37.22% 76 94

3 5%( 5%) 23,131,518.30 14 1 194,696,225.12 100.00% 355,068,896.82 100.00% 194,696,225.12 100.00% 355,068,896.82 100.00% 1, 2 3 5%( 5%) 4 2004 12 31 : 30 1 93,524,974.56 13 2 32,097,735.35 35 2EPIC 22,138,170.57 19,034,968.88 1 1 14,794,217.22 181,590,066.58 15 77 94

3,351,920.04 9,989,665.81 3%,5% 368,607.31 687,049.78 1%,7% 149,999,372.85 17,904,692.02 33% 23,958.77 27,336.23-14,342,267.42 28,914.33 17% 139,401,591.55 28,637,658.17 1 2 16 169,935.61 3% 47,029.60 1% * 1,152,096.51 1,369,061.72 * 17 1 1,924,845.96 21,535,165.12 1--2 19,650,686.87 1,940,610.62 2--3 741,165.00 715,656.64 3 2,348,370.91 2,576,527.16 24,665,068.74 26,767,959.54 1 8,641,931.58 78 94

35.04% 2 5% 5% : 7,769,950.73 7,769,950.73 18 8,688,886.43 5,420,250.85 1,117,020.28 4,303,230.57 1 15% 2000 5 1 10 2 2002 15% 2002 1 1 5 3 19 (+ -) 1 2,776.62 555.32 3,331.94 2,776.62 555.32 3,331.94 2 3 4 15,923.38 3,184.68 19,108.06 18,700.00 3,740.00 22,440.00 79 94

1 8,800.00 1,760.00 10,560.00 2 3 4 8,800.00 1,760.00 10,560.00 27,500.00 5,500.00 33,000.00 / 22 1 20 2004 12 31 2003 12 31 746,588,376.12 771,255,876.12 332,500.00 27,500,000.00 25,000,000.00 27,500,000.00 25,000,000.00 719.088,376.12 746,588,376.12 702,212,590.36 729,712,590.36 332,500.00 332,500.00 16,543,285.76 16,543,785.76 / 22 1 21 80 94

2004 12 31 2003 12 31 95,228,708.06 65,598,923.12 54,840,594.51 29,629,784.94 36,560,396.34 19,753,189.96 18,280,198.17 9,876,594.98 150,069,302.57 95,228,708.06 89,113,047.86 52,552,651.52 60,956,254.71 42,676,056.54 10% 5% 22 2004 12 31 2003 12 31 339,419,173.33 197,595,609.39 365,596,840.19 196,453,348.88 36,560,396.34 19,753,189.96 18,280,198.17 9,876,594.98 27,500,000.00 25,000,000.00 27,500,000.00 595,175,419.01 339,419,173.33 33,000,000.00 27,500,000.00 1 2003 27,500 10 1 1.00 81 94

10 1 33,000 10,560 2,750 2 33,000 10 1 1.00 10 1 39,600 12,672 ( ) 1 2004 2003 2,987,394,397.57 1,423,543,572.76 500,107,623.30 630,354,149.32 11,453,670.70 79,324,432.70 436,647,220.36 453,646,899.19 2,421,339.00 20,908,078.36 49,585,393.24 76,474,739.07 3,487,502,020.87 2,053,897,722.08 2 2004 2003 44,570,713.58 46,019,593.35 2,923,862.83 3,189,295.54 1,359,751.47 1,383,389.78 48,854,327.88 50,592,278.67 82 94

3 2004 2003 73,922,746.24 50,340,691.44 2,271 / 6 4 2004 2003 3,408,499.37 1,229,180.94 433,475.24 86,962.18 340,834.89 4,368,314.80 2,179,377.14-3,052,171.68 2,003,432.36 5 2004 2003 1,618,541.80 577,462.35 1,634,594.60 593,515.15-16,052.80-16,052.80 1,618,541.80 577,462.35 6 2004 2003 195,085,011.88 28,886,451.61 2004 33% 15% 83 94

1 5,150,738.22 4,368,314.80 2 30,168,431.55 3,870,205.60 2,482,748.92 2,191,367.98 1,651,657.44 1,302,892.18 1,297,401.77 1,221,448.59 1,200,685.00 1,059,373.43 908,160.00 637,350.66 1 1 5% 86,311,571.00 99.38% 82,730,919.67 87.26% 209,756.63 1-2 10% 11,550,230.27 12.18% 637,023.03 2-3 30% 4,800.00 0.01% 1,440.00 454,946.60 0.48% 136,483.98 3-5 50% 534,946.60 0.61% 267,473.30 80,000.00 0.08% 40,000.00 86,851,317.60 100.00% 268,913.30 94,816,096.54 100.00% 1,023,263.64 1 84 94

2 85,711,571.00 98.69% 3 5%( 5%) 5,450,000.00 5,450,000.00 2 55,767,750.83 46,931,610.04 55,767,750.83 46,931,610.04 1 1995.10-2005.10 70.00% 14,000,000.00 1993-2017 95.00% 12,967,500.00 1.77% 25,000,000.00 51,967,500.00 2 14,000,000.00 16,172,610.12 4,986.23 2,177,596.35 16,177,596.35 12,967,500.00 5,657,332.20 8,847,207.36 1,537,039.56 14,504,539.56 26,967,500.00 21,829,942.32 8,852,193.59 3,714,635.91 30,682,135.91 3-39,413.97 10-3,941.40-18,393.22-21,020.75 199,941.90 10 19,994.20 93,306.23 106,635.67 160,527.93 16,052.80 74,913.01 85,614.92 3 85 94

2,241,942,336.13 1,990,740,789.72 792,010,459.60 655,106,422.56 1,449,931,876.53 1,335,634,367.16 A 195,151,720.00 6,147,648.00 201,299,368.00 1,357,640,795.76 179,360,851.41 1,537,001,647.17 437,948,273.96 68,570,567.00 2,877,520.00 503,641,320.96 1,990,740,789.72 254,079,066.41 2,877,520.00 2,241,942,336.13 B 44,191,212.76 19,541,682.96 63,732,895.72 402,040,451.84 74,951,458.81 476,991,910.65 208,874,757.96 44,993,652.59 2,582,757.32 251,285,653.23 655,106,422.56 139,486,794.36 2,582,757.32 792,010,459.60 C 1,335,634,367.16 114,592,272.05 294,762.68 1,449,931,876.53 4 2004 2003 2,971,891,143.89 1,423,543,572.76 500,107,623.30 608,984,472.27 11,453,670.70 65,927,482.90 436,647,220.36 453,646,899.19 2,421,339.00 20,908,078.36 49,585,393.24 68,502,011.82 3,471,998,767.19 2,032,528,045.03 86 94

5 2004 2003 10,470,735.39-3,700,800.16 1,634,594.60 593,515.15 8,852,193.59-4,278,262.51-16,052.80-16,052.80 10,470,735.39-3,700,800.16 1 2 6 2004 2003 194,946,417.79 28,630,857.50 1 A. 500 B * * * 9.69% 87 94

( ) ACT OPERATOR S GROUP 0.40% * 24.78% 22.02% 11.11% 2 A 2004 2003 2,355,949,226.66 1,401,556,465.78 9,080,000.00 64,507,972.90 325,035,270.80 144,082,086.95 195,199,757.37 ACT OPERATOR S GROUP 159,857,624.68 B 2004 2003 54,410,015.22 21,784,667.02 3,252,479.06 3,652,909.80 2,808,064.47 832,030.58 700,734.92 88 94

C 2004 2003 86,328,702.84 78,373,518.55 66,606,632.00 56,930,000.00 1,885,700.00 34,126,594.10 126,472.80 558,836.80 202,000.00 D 2004 2003 18,423,011.00 59,932,844.10 35,535,436.58 E 2004 2003 6,500,269.30 5,251,404.51 3,229,614.00 F 2004 2003 56,411,229.85 28,737,260.40 664,500.00 G 2004 2003 15,581,342.16 17,514,983.16 89 94

H 358,280,662.54 221,883,630.83 I 2004 2003 2,784,925.93 1,013,620.60 J 2004 25,000,000.00 1,634,594.60 3 25,947,453.50 84,636,017.22 5,450,000.00 5,450,000.00 43,343,467.77 25,000.00 36,598,113.16 10,938,683.10 12,330,746.00 5,421,944.00 23,131,518.30 4,000.00 90 94

7,769,950.73 7,769,950.73 2004 12 31 2004 2003 365,596,840.19 196,453,348.88 129,638.00 258,665.46 48,485.00 458,015.00 180,876.00-92,364.36 11,968.42 365,784,367.83 196,387,527.84 2005 3 11 91 94

2004 1-12 : 1,323,748.87 49,724.82 961,336.10 412,137.59 1,299,818.94 960,429.10 339,389.84 23,929.93 49,724.82 907.00 72,747.75 3,239,773.10 22,707,323.51 627,465.64 25,319,630.97 3,239,773.10 627,465.64 2,612,307.46 22,707,323.51 22,707,323.51 4,563,521.97 22,757,048.33 1,588,801.74 25,731,768.56 92 94

2004 1-12 : 1,040,480.17 26,760.43 754,350.34 312,890.26 1,023,263.64 754,350.34 268,913.30 17,216.53 26,760.43 43,976.96 3,239,773.10 22,707,323.51 627,465.64 25,319,630.97 3,239,773.10 627,465.64 2,612,307.46 22,707,323.51 22,707,323.51 4,280,253.27 22,734,083.94 1,381,815.98 25,632,521.23 93 94

94 94