Muhak Alcohol (023150)   STOCK (Unit : %, Times) Fiscal Year End 2003.12.31 2004.12.31 2005.12.31 2006.12.31 2007. 6.30 Net Income to Total Assets 8.00  10.25  7.47  3.53  10.41  Ordinary Income to Total Assets 10.47  15.14  10.79  5.28  13.27  Operating Profit to Working Capital 21.30  25.10  14.88  11.87  22.49  Net Income to Equity 11.58  14.80  10.79  5.45  17.38  Net Income to Sales 11.69  14.91  10.38  4.78  15.02  Ordinary Income to Sales 15.30  22.04  15.00  7.15  19.14  Operating Income to Sales 21.12  22.51  13.89  11.30  21.89  Total Income to Sales 27.18  28.79  24.32  23.47  31.74  Times Interest earned 11.77  13.65  9.42  4.82  8.18  Financial Expenses/Sales 1.42  1.74  1.78  1.87  2.67  Equity to Total Assets 69.04  69.39  69.08  60.86  59.06  Liability to Equity 44.83  44.12  44.76  64.31  69.33  Borrowings & Bonds to Assets 23.95  22.86  22.82  34.08  31.32  Current Liabilities to Equity 35.96  40.67  40.99  18.45  25.48  Fixed Assets to Equity & L/T Liabilities 95.32  102.01  100.94  86.68  87.85  Fixed Ratio 103.78  105.53  104.75  126.43  126.37  Current Ratio 114.16  94.89  97.63  205.31  168.59  Quick Ratio 83.44  68.08  59.21  169.38  96.86  Debt Coverage Ratio 62.62  60.74  55.57  93.24  181.58  Total C/F to Liabilities 48.25  44.06  44.23  30.85  -     Business Capital Turn over 1.01  1.12  1.07  1.05  1.03  Total Assets Turn over 0.68  0.69  0.72  0.74  0.69  Trade Receivables Turn over 7.63  7.52  11.73  10.36  7.63  Inventories Turn over 8.36  9.05  7.82  10.23  9.19  Trade Payables Turn over 470.47   -   -   -  43.27  Sales Growth 11.01  12.24  8.25  8.54  9.39  Total Asset Growth 13.04  10.66  - 3.20  14.92  7.99  Equity Growth 13.06  11.20  - 3.62  1.25  4.79  (Unit : %) Fiscal Year End 2002.12.31 2003.12.31 2004.12.31 2005.12.31 2006.12.31 Cost of Sales 79.91  72.82  71.21  75.68  76.53  Selling & General Adm.Exp. 5.79  6.06  6.28  10.43  12.17  R & D Costs 0.05  0.06  -  0.05  0.05  Depreciation 5.65  4.51  3.85  4.66  4.35  Financial Expenses 2.90  1.42  1.74  1.78  1.87  Operating Income 14.30  21.12  22.51  13.89  11.30  Ordinary Income -  -  -  -  -  Income before Income Taxes 5.23  15.30  22.04  15.00  7.15  Net Profit 3.96  11.69  14.91  10.38  4.78  (Unit : 100Mn. Won, %) Fiscal Year End 2002.12.31 2003.12.31 2004.12.31 2005.12.31 2006.12.31 Total Debt 101.2  109.9  116.1  112.2  192.6  Short-Term Debt 57.3  74.7  100.4  103.0  39.0  Current Portion of L/T Debt 8.5  10.7  6.2  -  -  Long-Term Debt 35.2  24.4  9.3  9.2  153.5  Short-Term Debt to Total Debt 56.70  67.99  86.52  91.78  20.29