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【PARK24 Co., Ltd. 】Park24, GS Caltex, SOMO Petroleum, and Amano are Going to Establish 'GS Park24 Co., Ltd.' Through a Joint Venture Agreement

Introducing 'GS Times,' 24-hour unmanned automated parking services in Korea

Seoul, South Korea, February 2, 2006 --- Park24 Co., Ltd. (TSE: 4666), GS Caltex Corp. (South Korea), SOMO Petroleum Co., Ltd. (South Korea) And Amano Corp. (TSE: 6436) have reached an agreement to operate unmanned automated parking facilities 'GS Times' in Korea. Today the four companies signed the joint venture agreement, and a new company, 'GS Park24 Co., Ltd.,' will be established.

The shareholding ratio among the four shareholders are as follows; Park24 45%, GS Caltex 30%, SOMO Petroleum 20%, and Amano 5%. GS Park24 will have two representative directors, Tsugio Kondo of Park24 and Jae Hyup Yoon of GS Caltex.

Using the brand name of 'GS Times,' the new company aims to expand parking network by offering about 25% cheaper rate compared with current Korean market. GS Park24 intends to provide sophisticated parking service utilizing Park24's know-how.

Park24 has been contributing to establish and expand the new infrastructure of 'unmanned automated parking' in Japan's automobile society since 1991. Through this joint venture, GS Caltex and SOMO Petroleum are both able to enter parking business while utilizing their resources. It is also an opportunity for Park24 to bring its know-how of 'Times' to overseas market, and for Amano to increase its parking equipment sales.

GS Park24 aims to achieve its 5-year target of 30,000 parking spaces under operation by 2011.

About GS Park24 Co., Ltd.
1. Corporate Name: GS Park24 Co., Ltd.
2. Head Office: 1445-3 Yoksam-dong, Kangnam-gu, Seoul, South Korea
3. Main Business: Operation of 'GS Times' (unmanned automated parking facilities)
4. President and Representative Director: Tsugio Kondo (Park24), Jae Hyup Yoon (GS Caltex)
5. Date of Founding: scheduled on Feb. 15, 2006
6. Paid-in Capital: 1 billion won
7. Shareholders: Park24 (45%), GS Caltex (30%), SOMO Petroleum (20%), Amano (5%)

About Park24 Co., Ltd.
1. Registered Head Office: Shinagawa-ku, Tokyo, Japan
2. Main Business: Operation of 'Times' (unmanned automated parking facilities)
3. President and Representative Director: Koichi Nishikawa
4. Paid-in Capital: 5.6 billion yen
5. Sales: 55.3 billion yen

About Amano Corp.
1. Registered Head Office: Yokohama, Kanagawa, Japan
2. Main Business: Production of parking system products and time recording products
3. President and Representative Director: Kaoru Haruta
4. Paid-in Capital: 18.2 billion yen
5. Sales: 73.1 billion yen

About GS Caltex Corp.
1. Registered Head Office: Seoul, Korea
2. Main Business: Petroleum and petrochemical businesses
3. CEO: Dong-Soo Hur
4. Paid-in Capital: 260 billion won
5. Sales: 14,060 billion won

About SOMO Petroleum Co., Ltd.
1. Registered Head Office: Seoul, Korea
2. Main Business: Operation of gas stations
3. Chairman and Representative Director: Joon Soo Sin
4. Paid-in Capital: 7.2 billion won
5. Sales: 93.1 billion won