Announcement from Hanaro Telecom Inc. Seoul, April 20, 2000/PRNI-HK-Asianet/ -- Contrary to recent speculation in the media, Hanaro Telecom has no immediate plans to issue convertible debt or any other equity related security. In connection with the recent Nasdaq listing of ADR's the company is subject to a lock-up for six months on the issuance of any new equity or equity related instruments, including the issuance of convertible debt. Following the successful Nasdaq offering, the company now has sufficient funds available for its network build out in the near term. However, the Company is currently receiving subscriptions for more than 8,000 subscriber lines per day, substantially greater than its original forecast. As a result, the Company will need to raise additional financing in the medium term and will consider a number of financing alternatives including accessing the debt, equity and convertible markets. However, no future financing plans have yet been finalized. Issued by Hanaro Telecom, Inc. Contact: Dr. Young Soo Woo Address: Hanaro Telecom, Inc., Kukje Electronics Center Bldg. 1445-3, Seocho-dong, Seocho-ku, Seoul, Korea 137-728 Phone: 822-6266-4540