Report regarding the addition of Woori F&I Seventeenth Asset Securitization Specialty Co.,
Ltd. as a second-tier subsidiary of Woori Finance Holdings Co., Ltd.

On September 2, 2010, Woori F&I Co., Ltd. (“Woori F&I”), a wholly-owned subsidiary of Woori Finance Holdings Co., Ltd. (“Woori Finance Holdings”), added Woori F&I Seventeenth Asset Securitization Specialty Co., Ltd. as its subsidiary.

Key details regarding the newly added second-tier subsidiary:

• Name of company: Woori F&I Seventeenth Asset Securitization Specialty Co., Ltd.

• Financial status as of September 2, 2010 (expected date of establishment):

(unit: millions of KRW)

Total assets	10	Total stockholders’ equity	10
Total liabilities	—	Capital stock	10

• Primary business: Business activities related to the purchase, management and disposition of bonds and other instruments pursuant to the Asset Securitization Act.

• Woori F&I Seventeenth Asset Securitization Specialty Co. Ltd is a wholly-owned subsidiary of Woori F&I, and is a special-purpose company established under the Asset Securitization Act.

• Expected financial status as of September 27, 2010 (the expected asset transfer registration date):

(unit: millions of KRW)

Total assets	134,781	Total shareholders’ equity	15,510
Total liabilities	119,271	Paid-in-capital	87.5

• Number of all subsidiaries of Woori Finance Holdings after addition: 51

• Date of addition as a subsidiary: September 2, 2010