1. ETF 2009. 7. 22

2. ETF 2 www.kbam.co.kr www.kbam.co.kr 2 2

3. - 3 KOSPI200 KOSPI200 KTBINDEX : , KIS MKF : , , FnGuide 2009 2009 6 1 CHECK 3759 , MARKETPOINT 2851 www.kbam.co.kr 3

4. - 3 2009 9 0475-1112 (08-06) 2008.12.10 2011.12.10 4.75% 0550-1106 (08-03) 2008.06.10 2011.06.10 5.50% 0475-1403 (09-01) 2009.03.10 2014.03.10 4.75% 2009 12 0475-1112 (08-06) 2008.12.10 2011.12.10 4.75% 0475-1403 (09-01) 2009.03.10 2014.03.10 4.75% 0400-1206 (09-02) 2009.06.10 2012.06.10 4.00% www.kbam.co.kr 4

5. (KTBINDEX) - 1 2.4~2.8 (2.5 (2.5 2.4~2.8 (2.5) ETF Constant Maturity () () T+1 T+1 3 3 12 ( ) 3, 6, 9, 12 ( ) 2009 2009 6 1 10,000p www.kbam.co.kr 5

6. ETF ETF ETF + + () () ) KStar () () : KTBINDEX MKF TBI 0.15% ~ 0.16% CU 10 ), PDF : 3 10 ( 1), 30,000 6,000 => 1CU : 30,000( 6,000) ETF ) T+1 ( ETF ) 100,000 50,000 ) 100,000 ( 50,000 ) 5 ETF ) T+2 ( ETF ) www.kbam.co.kr 6

7. ETF - PDF PDF KR1035017V67 0550-1106 1,000,000,000 KR1035017W33 0475-1403 1,000,000,000 KR1035017VC6 0475-1112 1,000,000,000 KRD010010001 5,487,613 1CU = 30,000 NAV PDF / 30,000 PDF T+2 NAV www.kbam.co.kr 7

8. ETF : : ( +) ETF : , ( ) = < , ( ) > = www.kbam.co.kr 8

9. ETF 9 www.kbam.co.kr www.kbam.co.kr 9 9

10. ETF Benchmark Tracking ETF ETF 3.50 3.00 2.50 2.00 1.50 1.00 0.50 0.00 2004/06/16 2005/07/21 2006/08/25 2007/09/29 2008/11/02 www.kbam.co.kr 10

11. ETF ETF (Lending) ETF (Lending) (Lending) ETF, ETF : 0.24 % points(, ) ETF, ETF www.kbam.co.kr 11

12. ETF - : ETF, ETF ETF 3 5 ETF ETF NAV ETF NAV 3 ETF 3 , ETF ETF NAV ETF www.kbam.co.kr 12

13. ETF - ETF ETF (Relative Value) ETF & www.kbam.co.kr 13

14. ETF - ETF ETF (Relative Value) ETF + ETF Carry 5 - 3 ETF + ETF Carry 5 - 3 www.kbam.co.kr 14

15. ETF - ETF ETF ETF 2009-04-09 99,390 110.26 110.8 -0.54 - 2009-04-21 100,240 111.35 111.62 -0.27 27 ETF > Cash flow ETF + 200 () 218,000,000 22,052,000,000 ETF 24bp ETF -188,592,050 ETF 221,873 () 22,051,957,470 ( 24bp) ETF -1,739,990 2.41% CD 91 17,472,400 5,429,251 39,711,109 5.48% www.kbam.co.kr 15

16. ETF - ETF ETF vs ETF / , vs ETF / ~ ETF () () > 8-6 8-3 8-4 ETF ETF (10,000) ETF/ 09. 6. 1 10444.96 10654.84 10565.93 10555.24 10,550 5.24 - 09. 6. 2 10450.89 10659.82 10579.07 10563.26 10,553 10.26 -5.02 ETF/ 09. 6. 3 10446.35 10656.87 10572.48 10558.57 10,558 0.57 +4.67 ) ETF 1 www.kbam.co.kr 16

17. ETF Income Fund + Income 5 3 3 / Income 105.00 100.00 95.00 90.00 85.00 80.00 75.00 2004/06/16 2005/07/21 2006/08/25 2007/09/29 2008/11/02 www.kbam.co.kr 17

18. - - - - - - - - / Wrap Account - - - ETF - ETF - - - www.kbam.co.kr 18

19. . : 23-2 (150-712) 23- (150- (150 : www.kbam.co.kr : 2167 8200 www.kbam.co.kr 19