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HHI-EMD awarded $380M PPS order from Iraq

06.16.2008
HHI-EMD recently won a $380M order of 144 Packaged Power Stations(PPS) from
the Iraqi government on June 16th and will commence construction this
December and is expected to be complete in April of next year.

The Packaged Power Station(PPS) is a diesel power plant in which a diesel
generator and auxiliary equipments are packed inside a 40-foot container
thus making it convenient to install and mobilize. Moreover, because it uses
Heavy Fuel Oil along with Diesel Oil, it is also cost-effective.

So far, HHI-EMD has won a total of 180 PPS orders from Iraq.

On a worldwide basis, from the previous 973 orders of PPS from a total of 23
nations, HHI-EMD has now surpassed the 1,000 order mark to reach a total of
1,117 PPS orders.

In 2005, 644 PPS sets worth $850M were exported to Cuba which was almost 6 times
the amount of the yearly ROK-CUBA trade volume($150M in 2005).

The reason for the high popularity of HHI-EMD's PPS in nations lacking electric
power infrastructure and nations in war is because of its convenient
installation procedure.

Moreover, the fact that the PPS uses HHI-EMD's own HiMSEN engine as the main
generator engine makes it more significant. The HiMSEN engine is a medium speed
diesel engine developed purely by Korean domestic technology.

Executive Vice President & COO Seung-Nam Yoo of HHI-EMD explained "Currently
orders are continuously coming in from South America and the Middle East and
this is due to trust and high reputation of our products among customers
worldwide.

Meanwhile, HHI-EMD's PPS was selected and awarded as a 'World Class Product'
by the Ministry of Knowledge Economy in 2006 and was illustrated on the Cuban
10 peso note last year.
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