Samsung Heavy in Notes Offering and Listing

December 20, 2006

Cleary Gottlieb served as transaction counsel in the offering of $100 million senior unsecured floating rate notes due 2011 by Samsung Heavy Industries Co., Ltd. The notes were offered pursuant to Regulation S and are listed on the London Stock Exchange. Standard Chartered Bank, The Bank of Tokyo-Mitsubishi, Hyundai Securities and Mizuho International acted as mandated lead arrangers. The transaction closed on December 19, and the notes were listed on the London Stock Exchange on December 20.

Samsung Heavy Industries Co., Ltd. is one of the world's leading shipbuilding companies and a member of the Samsung Group.