On March 18, NOROO Holdings held the 65th periodical general meeting of shareholders at the headquarters building in Anyang, with its directors and employees present. President Yang Jeong-mo, who chaired the meeting, explained the Company’s performance results and financial status to the shareholders. He said, “In 2010, the Company posted 29.7 billion won in operating profit and 6.9 billion won in net profit, although it experienced a difficult situation in the second half of the year amid the overall sluggishness of the world economy resulting from the financial crisis in some European countries and the jump in raw material prices. In 2011, we will adopt a new paradigm for growth, set a far-reaching vision for the future, and do our best to maximize shareholder value under the Group’s management guideline, which can be summarized as a jump forward accompanied by harmonious changes. We will concentrate on our existing business areas and undertake harmonious changes in a drive to make successful forays into new markets.”

At the session, the shareholders approved the balance sheet and the income statement for 2010, as well as the allocation of a dividend of 400 won per share (for common stocks) and 405 won per share (for preferred stocks) in the surplus appropriation statement. Directors Yang Jeong-mo, Song Yoon-bin and Jin Inn-joo (outside director) were reelected, while Mr. Kim Youn-sung was newly elected as an outside director to fill the vacancy left by the departure of Mr. Choi Kwang-joo, and Mr. Kim Chul-hee was elected as the new Auditor.