posco AMERICA

- Introducing its performance and plans to investors in London, New York and Boston

POSCO held CEO Forum for overseas investors in some British and American cities from February 13 for three days to introduce the company`s performance and management activities of the last year and the management plans of this year.

POSCO held the forum in London, New York and Boston and also had separate meetings with main investors.

CEO Chung Joonyang said in his greeting, ``While many steelmakers are reducing their production, POSCO has attained the record high production and sales, maintained the top-tier profitability in the industry and also conducted R&D activities for the future and overseas projects without a problem.`` ``This year, our company will focus on reinforcing our competitiveness, expanding profitability gaps with our rivals by boosting our efforts to reduce costs and creating the results of the overseas steel projects and new growth engine projects we have invested in so far.``

In this overseas CEO Forum, POSCO announced it would establish the upstream process of 7 million tons and downstream process of 9.1 million tons by 2015, commercialize the production of eco-friendly future materials based on steel manufacturing methods and implement energy infrastructure projects in collaboration with POSCO Family companies, creating visible results of the company`s future growth engine projects.

In addition, the steelmaker also announced that it would make investments only within the scope of its cash creation capability to fortify its financial soundness, adjust maintainability and current investment when required and actively consider the methods to utilize non-operating assets.

POSCO announced it set this year`s sales goal as 70.6 ~ 74.3 trillion won (consolidated) and as 37.7 ~ 41.2 trillion won (alone), and that it would execute the investment cost of 8.3 ~ 9.5 trillion won (consolidated).

In the meantime, the company is planning to hold an investor forum in Hong Kong and Singapore on February 29 and March 1, with meetings with main investors.

- POSCO held CEO Forum for overseas investors in some cities including London, New York (picture above) and Boston from February 13 for three days and there the company introduced its performance of the last year and the management plan of this year.

yoonish@posco.com