On October 1, 2003, Kookmin Bank’s board of directors (the “Board”) officially resolved to announce the completion of Kookmin Bank’s merger with Kookmin Credit Card. This resolution is pursuant to Article 526-3 of the Korean Commercial Code, which prescribes that the Board may make a public notice in lieu of a report to the general shareholders' meeting.

The following is key information regarding Kookmin Bank’s merger with Kookmin Credit Card.

Progress of Merger with Kookmin Credit Card

2003. 5.30 : Board approval of the merger agreement

2003. 7.23 : Merger approval by Kookmin Bank’s Board

2003. 9. 5 : Merger approval by stockholders’ meeting (Kookmin Credit Card)

2003. 9.26 : Merger approval by the Financial Supervisory Commission (FSC)

2003. 9.30 : Merger date

2003.10. 1 : Board announcement of the completion of the merger

2003.10.15 : Listing of new shares of Kookmin Bank

Reorganization of Credit Card Business Units

Kookmin Bank reorganized its credit card business unit from one to two business units. The number of teams related to its credit card business is increased from three to ten.

New Positions of Executive Vice Presidents

In line with Kookmin Bank’s reorganization, Jung-Tae Kim, President and Chief Executive Officer of Kookmin Bank appointed new individuals to the following Executive Vice President positions. The new positions take effect as of October 1, 2003.

Bong-Hwan Cho  Executive Vice President, Credit Card Business Unit

See-Young Lee   Executive Vice President, Credit Card Collection Management Business Unit