50DN Wells Fargo 24

RNS Number:7258K
Samsung Heavy Industries Co., Ltd
28 December 2007


Subject : Insurance Policy Purchase


On December 26, 2007, the BOD of Samsung Heavy Industries authorized to
renew the severance payment insurance policy with Samsung Life Insurance.


Details

1.       The purchase of insurance policy aims to manage severance pay in a
         stable manner and improve profitability of the asset.

2.       Insurance policy purchase date : December 28, 2007

3.       Insurance details

             -         Total premium : KRW 30 billion

             -         Samsung Life Insurance will pay 65% of severance pay in 
                       case a Samsung Heavy Industries employee leaves the 
                       company.

             -         Insurance period : December 28, 2007

             -         Interest rate : 4.9% (having dividend and floating rate)



                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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