South Korea's Kosep opens tender to transport coal from Indonesia, Australia, Russia

Korean South-East Power & Co (Kosep) is inviting ocean transportation service to transport 1.42 million -2 million tons of sub-bituminous coal per year from Indonesia, Australia, Russia to South Korea

PUBLIC NOTICE FOR INVITATION TO BID

1. Invitation No. : KOSEP-CHARTER-2004-L3

2. Bidding Name : Ocean Transportation Service of (Sub bituminous Coal

3. Bidding Method : International competitive bidding

4. Bidding Cargo

* Bid Item : CH 2004-L3

* Cargo quantity(MT) : Indonesia or China or Russia 1,420,000??10% - 2,000,000??10%/per year

* Loading period : 3 years (from first March, 2004)

* Loading port : Indonesia or China or Russia

* Geared/Gearless : Panamax Gearless

* Discharging port : Samchonpo or Yonghung / Korea

5. Application for Bid participation & Bid closing Date and time :

Thursday 18:00 5th February 2004 (Korean standard time)

6. Qualification for Bid : Anyone who owns or operates at least

one(1) bulk carrier(coal/ore) over 60,000DWMT and who registered bid in advance.

7. Bid Bonds : Not less than 5% of total bid value/year for Bid item

8. Place of Bidding :

Business Management Department, Korea South-East Power Co.

167, Samsung-dong, Kangnam-gu, Seoul, 135-791, Korea

(Tel. 82-2-3456-7171, 7174 Fax. 82-2-3456-7189, 7188)

9. Others: bid conditions may be changed and we will notice them ASAP.

10. For Further Details : Please refer to "Invitation To Bid" which is available at the above mentioned place of bidding and at KOSEP's internet homepage (www.kosep.co.kr).

2004. 01. 27

Korea South-East Power Company