TURKEY An old partner with new opportunities! Vienna Economic Forum, 05th of November 2007, Vienna AUSTRIA

- Young Executives and Businessmen Association of TURKEY - We know how to “survive” MACROECONOMIC PARAMETERS GROWTH E GNP (US$mn) ,804174,136129,295201,206143,664182,485239,121301,656362,755402,103495,457 GNP Growth (annual % chg.)9,30, INFLATION E CPI (annual % chg.)60,471, CPI (12-month average annual % chg.)60,366, Source: Turkstat, Eczacibasi Securites Research Average growth rate of 7.2% since 2001 Inflation rate below 10% achieved in the last years

- Young Executives and Businessmen Association of TURKEY - Growth

- Young Executives and Businessmen Association of TURKEY - Economy- Balance of Payments

- Young Executives and Businessmen Association of TURKEY - Projections GDP (billion USD) GDP growth (%)4.7%5.5% CPI inflation (year end)7.0%6.5% CA Deficit (% of GDP)-6.8%-6.7% FDI (billion UDS)2016 Projections - Economy in TR!

- Young Executives and Businessmen Association of TURKEY - FDI Flow – A hot topic for TR A country; –which is at the crossroads of energy lines –with a young and trained population –and increasing manufacturing capacity offers solid opportunities for the investors!

- Young Executives and Businessmen Association of TURKEY - FDI Flow Substantial upward trend in the FDI Volume; –Average annual rate of FDI inflow to TR was 1-2 billion US$ until year 2001 –2005 FDI inflow to TR is 9,8 billion US$ –2006 FDI inflow to TR is 20,2 billion US$ –Upward trend still continues...

- Young Executives and Businessmen Association of TURKEY - FDI Flow - Some examples in last 3 years Banking and Finance TEB - BNP Paribas (France) Million USD Dışbank - Fortis (Belgium) Billion USD Yapı Kredi - Koç Holding + Unicredito (Italy) Billion USD Akbank – Citi Group (US) Billion USD Garanti Bank – GE Capital (US) – 2.8 Billion USD Finansbank – National Bank of Greece Billion USD General Insurance – Mapfre (Spain) Million USD

- Young Executives and Businessmen Association of TURKEY - Other Sectors Akmerkez Shop. Mall – Corio (Netherlands) Million USD Kent Food – Cadbury Schweppes (UK) - 96 Million USD Petrol Ofisi – OMV (Austria) - 1 Billion USD Mey Alcoholic Beverages – TPG (US) Million USD Cevahir Mall – St.Martins (Kuwait) Million USD Eczacıbaşı Pharma - Zentiva (Czech) Million USD Enerjisa – Verbund (Austria) Million USD FDI Flow - Some examples in last 3 years

- Young Executives and Businessmen Association of TURKEY - FDI Flow - Sectors At the moment FDI mainly goes to; –Banking and Finance –Energy –Transportation –Real Estate and Land Development

- Young Executives and Businessmen Association of TURKEY - FDI Flow – Potential Sectors Very good opportunities in areas like; –Energy –Tourism –Media –Consumer Products –Retailing

- Young Executives and Businessmen Association of TURKEY - Tourism Figures

- Young Executives and Businessmen Association of TURKEY - A few words over ISE Established in 1986, a relatively young stock market Over the past 19 years: number of the ISE-listed companies rose from 80 to 326, ISE-100 Mcap from US$1bn to US$141bn Around 66% of the IPOs are allocated to foreign institutional investors Source: ISE (US$bn)

- Young Executives and Businessmen Association of TURKEY - Sectoral Breakdown of Free-Float A wide range of companies and sectors, with banks and conglomerates having the largest pie in the free-float Mcap A large number of companies having JVs with foreign partners, such as: Ford Motor – Otosan Fiat Auto – Tofas Phillip Morris – Carrefour – Mitsubishi – Sabanci Holding UniCredito Italiano – Koc Holding AOL Time Warner – Dogan Media Group Source: ISE Number of the ISE-listed companies

- Young Executives and Businessmen Association of TURKEY - Foreign Holdings - ISE During the past 10 years, the share of foreign holdings in the free - float Mcap of the ISE always remained above 30% Foreign interest in the ISE in 2007 is still on an up-trend ISE is one of the most attractive SEs of the world with lucratively high earnings! (US$mn) Source: ISE

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