1. PERFORMANCE & FINANCIAL RESULTS – 9M09
November 12, 2009

2. About Us Overview of Capital Markets Our Performance Financial Results Expectations for the Rest of the Year
Performance & Financial Results – 9M09

3. Shareholder Structure
About Us
Activities
Subsidiaries
Brokerage & Trading
TL/FX Stocks
TL/FX Treasury Bond/ Government Bond
TL/FX Private Sector Bonds
TL/FX Derivatives
Maxis Securities: (Share: 100%)
London headquartered B Group capital markets licensed subsidiary
Camiş Investment: (Share: 99.79%)
Turkey’s one of the long-established brokerage houses
IS Asset Management: (Share: 70%)
Turkey’s leading Portfolio Management Company managing IS Group funds
IS Investment Trust (Share: 29.1%)
Turkey’s leading Investment Trust
IS Private Equity: (Share: 29%)
Turkey’s largest Private Equity
Investment Advisory
Individual Clients
Corporate Clients
Institutional Sales
Asset Management
Discretionary Portfolio Management
Mutual Funds Management
Private Funds Management
Shareholder Structure
Corporate Finance
Public Offerings
Mergers & Acquisitions
Project Finance
Privatization Advisory
Strategic Planning
Private Equity
Research
Macro economy
Sector Research
Company Analysis
Fixed Income Securities Analysis
Strategy Reports and Presentations

4. About Us Overview of Capital Markets Our Performance Financial Results Expectations for the Rest of the Year
Performance & Financial Results – 9M09

5. Overview of Capital Markets
Equity Market Volume (In TL Billion)
Derivatives Market Volume (In TL Billion)
680
31%
47%
478
519
325
2008/9
2009/9
2008/9
2009/9
Source:ISE
Source:TurkDEX
Equity and derivatives market exceeded the full-year of 2008

6. Overview of Capital Markets
Bills & Bonds Market Volume (In TL Billion)
30%
649
499
2008/9
2009/9
Source:ISE
Lower interest rates and higher trading volume

7. Overview of Capital Markets
Asset Management ( In TL Billion)
Pension Funds grew
47% with respect to
the same period of 2008
Mutual Funds*
29.8
Pension Funds
24.9
8.5
5.8
2008/9
2009/9
Source:CMB
Pension fund business is growing
*A Type and B Type Funds.

8. About Us Overview of Capital Markets Our Performance Financial Results Expectations for the Rest of the Year
Performance & Financial Results –9M09

9. Our Performance More Volume & Bigger Market Share
Equity Market Volume and Market Share
(In TL Billion)
Derivatives Market Volume and Market Share
(In TL Billion)
13.48%
8.21%
14.19%
64.5
61%
55.9
6.69%
39.6%
46.2
34.7
2008/9
2009/9
2008/9
2009/9
Source:ISE
Source:TurkDEX
We increased our trading volume 61% annually, doubling the total market volume increase over the same period
Sustained leadership

10. More buy and hold, less transaction
Our Performance
Bills & Bonds Market Volume and Market Share* (In TL Billion)
15.53%
11.63%
14.7
-16.8%
12.2
2008/9
2009/9
Source:ISE
More buy and hold, less transaction
*Among Brokerage Houses

11. Mutual Funds portfolio size represents 23.5% of the market
Our Performance
AuM – IS Asset Management & IS Investment (In TL Billion)*
Mutual Funds portfolio size represents 23.5% of the market
Mutual Funds**
Pension Funds portfolio size represents 19.9% of the total pension funds
7.0
Pension Funds
5.3
1.7
1.1
2008/9
2009/9
Source: IS Investment & IS Asset Management
AuM size reached TL 9.9 billion surging by 41.4% on annual basis, while pension funds and mutual funds registered 54.5% and 32% growth rates respectively
* Other Funds: Portfolio size of TL 692 mn and TL mn for other funds for the periods of 2008/9 and 2009/9 respectively.
**A Type and B Type Funds.

12. About Us Overview of Capital Markets Our Performance Financial Results Expectations for the Rest of the Year
Performance & Financial Results –9M09

13. Financial Results Sound Performance
IS Investment*
2008/9
2009/9
YoY
TL (000)
Total Assets
1,482,839
1,444,069
2,182,590
51%
Shareholders' Equity
272,689
266,190
321,008
21%
Net Profit
44,705
36,812
55,356
50%
Strong financial structure with enhanced profitability
* Consolidated

14. Financial Results Breakdown of Operating Revenues
Diversified Revenues

15. Financial Results Asset Management
Asset Management Commissions
(In TL Million)
2008Q1
2009Q1
2008Q2
2009Q2
2008Q3
2009Q3
2008/9
2009/9
We raised our management fees 60% on annual basis - We see positive effect of our prime brokerage services

16. Financial Results Price Performance
ISMEN Closing Price TL
238%
P/E
1.98
4.9
P/BV
0.25
1.1
ISMEN’s price has increased 253% with respect to January 2, This upswing indicates 98% and 85%
higher performance relative to ISE-100 Index and ISE Financial Index respectively

17. About Us Overview of Capital Markets Our Performance Financial Results Expectations for the Rest of the Year
Performance & Financial Results – 9M09

18. Expectations for the Rest of 2009
Dubai liaison office will be ready as of end of 2009.
Feasibility study for new branches continues.
We sealed our uncontested leadership with strong performance.
New derivative instruments yet to come

19. Investor Relations
Mr. Mert Erdoğmuş
Assistant General Manager
Phone :
Fax :
The Investor Relations Department is responsible for the timely communication of necessary, accurate, complete, comprehensible and easily accessible information and explanations, which are not considered to be trade secrets to its shareholders and stakeholders.
Mr. Ozan Altan
Vice President
Phone :
Fax :

20. Disclaimer
The information in this report is prepared by “IS YATIRIM MENKUL DEGERLER A.S.” (IS Investment) and it is not to be construed as an offer or solicitation for the purchase or sale of any financial instrument or the provision of an offer to provide investment services. Information, opinions and comments contained in this material are not under the scope of investment advisory services. Investment advisory services are given according to the investment advisory contract, signed between the intermediary institutions, portfolio management companies, investment banks and the clients. Opinions and comments contained in this report reflect the personal views of the analysts who supplied them. The investments discussed or recommended in this report may involve significant risk, may be illiquid and may not be suitable for all investors. Therefore, making decisions with respect to the information in this report cause inappropriate results.
All prices, data and other information are not warranted as to completeness or accuracy and are subject to change without notice. Any form of reproduction, dissemination, copying, disclosure, modification, distribution and/or publication of this report is strictly prohibited. The information presented in this report has been obtained from sources believed to be reliable. IS Investment cannot be held responsible for any errors or omissions or for results obtained from the use of such information.

21. IS Investment İş Kuleleri Kule-2 Kat:12 HEAD OFFICE
İş Kuleleri Kule-2 Kat:12
HEAD OFFICE
Levent İSTANBUL TURKEY
Tel:
Fax:
Süleyman Seba Cd. No:44 B1 Blok D:10
Köybaşı Caddesi İskele Çıkmazı No: 6
AKARETLER
34357 Akaretler İSTANBUL TURKEY
YENİKÖY
34464 Yeniköy İSTANBUL TURKEY
BRANCH
Tel:
Tel:
Fax: 
Fax:
Tahran Cd. No:3/8
Havalimanı Kavşağı EGS Business Park
ANKARA
06700 Kavaklıdere ANKARA TURKEY
YEŞİLKÖY
B3 Blok No:470
Tel:
34149 Yeşilköy İSTANBUL TURKEY
Fax:
Tel:
Fax:
Akdeniz Cd. No:14 Birsel İş Merkezi D:501
Bağdat Cd. Kılıçoğlu Ap. No:451 K:1 D:4
İZMİR
35210 Alsancak İZMİR TURKEY
SUADİYE
34740 Suadiye İSTANBUL
Tel:
REP. OFFICE
Tel:
Fax:
Fax:
Fener Kalamış Cd.
Jeltozbekova Street
KALAMIŞ
Tibaş-Belvü Sitesi A2 Blok D:3
ALMA ATA
97 Block A2 Floor:2
34726 Fenerbahçe İSTANBUL TURKEY
ALMAATA KAZAKHSTAN
Tel:
Tel:
Fax:
Fax:
Büyükdere Cd.
MAXIS SECURITIES LTD
MASLAK
Nurol Plaza No:71/16
8 Princes Street
34398 Maslak İSTANBUL
SUBSIDIARY
London EC2R 8HL UNITED KINGDOM
Tel:
Tel:
Fax:
Fax:

22. PERFORMANCE & FINANCIAL RESULTS – 9M09
November 12, 2009