Press Release

December 4, 2014

Bidding Results for Woori Bank Shares

The Public Fund Oversight Committee(PFOC) held its 103^rd meeting on December 4 after receiving the bidding results for Woori Bank shares from the Korea Deposit Insurance Corporation(KDIC).

(Minority shares) Out of the 23.76% stake on sale, the KDIC auctioned off 5.94% for KRW 453.1 billion, which offered higher price than the KDIC’s estimation. Successful bidders will be granted call options accounting for 50% of the winning bid. The sales process will be completed within next week after signing stock sale contracts.

(Controlling shares) The bidding procedure for the controlling shares will be halted since only one bid had been received.

The PFOC will continue to discuss and then decide when and how the sales process for the remaining 48.06% stake in Woori Bank will be resumed.

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