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Murchison Metals Ltd & POSCO Co Ltd	Update Date: 09/22/08
Date Announced: 09/01/05
Value (million $USD): 2.3 million U.S. Dollar 3.0 million Australian Dollar

Status: Completed

TRANSACTION DETAILS
Date Announced	09/01/05
Date Originally Announced	09/01/05
Format	Acq. Part. Int.	Acquisition techniques	Privately Negotiated Purc
Attitude	Friendly	Agency	n/a
Value	2.3 million U.S. Dollar 3.0 million Australian Dollar	Advisor Fees	n/a

SYNOPSIS
AUSTRALIA - POSCO through its wholly-owned POSCO Australia Pty Ltd, acquired an 11% stake, or 10 mil new ordinary shares, in Murchison Metals Ltd, an iron ore mining company, for 3 mil Australian dollars ($2.287 mil US), in a privately negotiated transaction.

TARGET
Name	Murchison Metals Ltd (Australia : MMX)
Industries	n/a
City	West Perth, Western Australia
State	n/a
Nation	Australia
Incorporated in	n/a
Public Status	Public
Business Description	Murchison Metals Ltd provides iron ore mining and exploration services through its Jack Hills iron ore project located in the mid West region of Western Australia.
Advisors	NULL
Target Sales	n/a

ACQUIROR
Name	POSCO Co Ltd (PKX)
Industries	Gray and ductile iron foundries; Cold-rolled steel sheet, strip and bars; Malleable iron foundries; Metal heat treating; Iron and steel forgings; Primary metal products, nec; Sheet metal work; Steel foundries, nec; Steel pipe and tubes; Industrial supplies
City	Gyongsangbuk-Do
State	n/a
Nation	South Korea
Incorporated in	n/a
Public Status	Public
Business Description	POSCO Co Ltd, located in Korea, manufactures and wholesales hot and cold rolled coil steel sheets which are used in automobiles, steel structure, steel pipe, home appliances, and food containers; steel plates which are used in marine structures, pressure vessels, machinery pipes and storage tanks; wire rods which are used to make screws, nail, barbed wires, wire mesh, wire ropes, springs, welding electrodes, and underwater cables; electrical steel sheets which are used for power generators and transformers; and stainless steel products which are used in home appliances, medical equipment, machinery, automobile exhaust system, train interior and exterior panels.
Advisors	NULL
Acquiror Sales	27.19 billion U.S. Dollar 28,113.17 billion Korean Won

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