February 20, 2002 in Social Responsibility News

Voluntary Disclosure of Other Material Information Regarding Business




 voluntary disclosure regarding the possibility
of the preferred share conversion

 into common shares




The current Article 8 of the Articles of Incorporation of Samsung Electronics
("AOI"),

which was amended as of Feb. 28th, 1997, provides for the conversion of
the preferred

shares into common shares upon expiry of the 10-year duration of the preferred
shares.

However, the old provisions of the AOI regarding the preferred shares, which
were in effect prior to Feb. 28th, 1997, did not provide for such conversion
and those provisions are

almost exactly copied to Article 5, Paragraph 2 of the Addendum of the current
AOI.

 

As such, while the amended Article 8 applies only to the preferred shares
newly issued after Feb. 28th, 1997, Article 5, Paragraph 2 of the Addendum
still applies to the old preferred

shares issued prior to Feb. 28th, 1997 and therefore, the old preferred
shares are not to be converted into common shares.  

 

Since all outstanding preferred shares of Samsung Electronics were issued
prior to Feb. 28th 1997, those shares are not to be converted into common
shares.





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