A Time of Thanks!

On behalf of the employees and shareholders of Asiana Airlines, I would like to extend my personal thanks and appreciation to all of you who have made Asiana Airlines what it is today- a truly global airline of quality stature. As we close out another year, it is a time to reflect back on our accomplishments and look forward to the forthcoming opportunities.

This past year saw the addition of Qingdao, Tianjin, Taiwan and Busan-Manila to our route map as we continue to expand our wings. Our Star Alliance group added US Airways, Blue1, Croatia and Adria to its membership, giving our Asiana Club members more of the world to earn and redeem miles. While the world economies continue to struggle, travel is still growing as technology and trade shrink global boundaries and more people take to the air.

Looking forward to the coming year, we are excited about the prospects for continued growth. Asiana will start taking delivery of its next generation aircraft that will be equipped with the latest in in- flight communications and internet technology, enabling our passengers to stay connected with the world, even in-flight. We will be welcoming both South African Airways and TAP Air Portugal to our Star Alliance partner list.

We invite you to take advantage of our expanded network and improved services in 2005.

It's a great time to travel!

Thank you again for your loyal support and I wish you and your family the best for the coming year.

With warm regards,

Chan Bup,
Park President & COO of Asiana Airlines