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Disclosure

Privatization

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TSKB, due to its depth of experience and widely recognized know-how has been qualified by Republic of Turkey Prime Ministry Privatization Administration (“PA”) to offer advisory services in a wide range of areas, such as IPOs, feasibility reports etc. Some of the completed and planned projects in this respect are listed below:

Since 2007, financial and strategic advisor in the privatization of Turkish motorways and bridges,
Consultant in preparation of valuation reports and completion of due-diligence for nine Sumer Holding subsidiaries,
In May 2006, financial advisor in the valuation of Murgul Facility, Hydroelectric Power Plant and land in Samsun belonging to Blacksea Copper Enterprises,
Since February 2005, sell-side financial and strategic advisor in the privatization of operational rights of six TCDD (Turkish State Railways) ports (Iskenderun, Mersin, Izmir, Derince, Samsun and Bandirma) [This deal has significant importance, as most of the Turkish imports and exports (in tonnage) are carried out through sea ports and the stated ports have considerable market share in total container handling. The transfer of TCDD Port of Mersin was completed in May 2007 whilst the tender processes of TCDD Ports of Izmir and Derince were finalized in 2007. The tender process of TCDD Port of Mersin had been finalized following the highest bid (US$755 million) submitted by Singapore Port Authority (PSA, one of the global leaders in the port operations and terminal businesses) and Akfen Holding (a local construction firm) Consortium. The highest bid for the operating rights at the TCDD Ports of Izmir and Derince were US$1.275 billion and US$195.25 million, respectively. The highest bid at the tender related to TCDD Port of Izmir is submitted by Global Yatirim Holding (a local investment firm), Hutchison Whampoa Ltd (world’s leading port investor) and EIB (Aegean Export Association) Consortium; while Turkerler Construction (a local construction firm) had offered the highest bid for TCDD Port of Derince. Due-diligence processes continue for the remaining three ports (TCDD Ports of Samsun, Bandirma and Iskenderun.)],
Comprehensive and multifaceted study within the scope of the advisory service to analyze existing financial outlook of Turkish Halkbank and develop subsequently a sound privatization strategy for the bank was offered in the second half of 2003,
Real estate appraisal and valuation of Kutahya Fertilizer’s facilities in 2003,
Advisor and joint global coordinator of US$651 million privatization and secondary public offering of Turkish Isbank shares with Solomon Smith Barney in 1998,
Consultant in the sales of minority rights of Cimhol and Cemas firms in 1996,
Consultant in the privatization of seven cement plants of Citosan in 1996,
Study on the selection and initial evaluation of SEEs (state economic enterprises) in 1995,
Advisor in the privatization of 13 entities under MKE's (state owned machinery, chemicals, arms and ammunition manufacturer) management between 1991 and 1993,
Preparation of Sumerbank Information Memorandum,
Pre-privatization evaluation of the Citosan's five cement plants between 1986 and 1987,
Preparation of the Privatization Master Plan together with the Morgan Guaranty Bank in 1985.