sermaye pi̇yasasi kurulu
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sermaye pi̇yasasi kurulu
FROM ŞEKERBANK TÜRK ANONİM ŞİRKETİ THESE ARE THE EXPLANATIONS FOR THE INCREASE OF OUR ISSUED CAPITAL FROM 125.000.000 NEW TURKISH LIRAS TO 400.000.000,00 NEW TURKISH LIRAS BY ADDING 275.000.000 NEW TURKISH LIRAS ALL AT ONCE IN CASH AND SALE OF THE SHARES REPRESENTING THE CAPITAL INCREASED AGAINST CASH. THE SHARES TO BE ISSUED AS A RESULT OF THIS CAPITAL INCREASE WERE REGISTERED BY THE CAPITAL MARKET BOARD ON 22/08/2007 WITH NUMBER 69/866. ON THE OTHER HAND, SUCH A REGISTRATION SHALL NOT BE INTERPRETED AS A GUARANTEE FROM THE BOARD OR STATE FOR OUR COMPANY. PURSUANT TO THE PROVISIONS OF CAPITAL MARKET BODY, THE ISSUERS ARE RESPONSIBLE FOR THE CORRECTNESS AND TRUTH OF THE INFORMATION CONTAINED IN THE EXPLANATION LETTER AND ITS ANNEXES. ON THE OTHER HAND, THE BROKER COMPANIES WHO DO NOT GIVE THE REQUIRED CARE MIGHT BE RESPONSIBLE FOR THE INDEMNIFICATION OF THE DAMAGE OR LOSS CAN NOT BE INDEMNIFIED FROM THE ISSUERS. BESIDES THESE THE INDEPENDENT AUDIT COMPANIES ARE LEGALLY RESPONSIBLE FOR THE DAMAGE AND LOSS STEM FROM THEIR WRONG AND MISLEADING INFORMATION CONTAINED IN THEIR OPINION REPORTS ABOUT THE FINANCIAL TABLES AND STATEMENTS AUDITED BY THEM. The Opinions of Other Public Institutions: 1. Opinions of Banking Regulation and Supervision Agency (BDDK) a) Opinion letter of BDDK dated 08.08.2007 and numbered BDDK.UYI/38-1-10839 sent to SPK on the issue. “We have no objections to increase of the issued capital of Şekerbank T.A.Ş. from 125.000.000,- YTL to 400.000.000,- YTL by adding 275.000.000,- YTL all at once in cash within 400.000.000,-YTL capital ceiling limit pursuant to the provisions of Banking Law numbered 5411.”’ b) Opinion letter dated 08.08.2007 and numbered BDDK.UYI/38-1-10840 sent by BDDK to Şekerbank T.A.Ş. about the subject. “In our letter dated today we informed the Capital Market Board that we have no objections to increase of the issued capital of your bank from 125.000.000,- YTL to 400.000.000,- YTL by adding 275.000.000,- YTL all at once in cash within 400.000.000,-YTL capital ceiling limit pursuant to the provisions of Banking Law numbered 5411.” I. INFORMATION ON OUR COMPANY A. GENERAL INFORMATION 1. Trade Title : ŞEKERBANK TÜRK ANONİM ŞİRKETİ 2. Headquarters and Branches : Headquarters: Büyükdere Caddesi No: 171 Metrocity İş Merkezi A-Blok 34330 1.Levent/Istanbul Branch Addresses: Given in Annex-2. 3. Actual Management Place (Address) : 1 Büyükdere Caddesi No: 171 Metrocity İş Merkezi A-Blok 34330 1.Levent/Istanbul 4. Our Company was incorporated on 06.10.1953 and registered at Eskişehir Trade Registry with registration number 5786 and pursuant to the decision taken at the extraordinary meeting of general assembly held on 26.10.2004, the company center was transferred to Istanbul and registered to Istanbul Trade Registry on 04.11.2004 with registration number 536973. Registration Date, Registration Number and Trade Registration Office : 5. Term : Limitless 6. Number of known shareholders : 16 7. Jurisdiction applied for the Company : Laws of Turkish Republic 8. Aim (Business Scope) : Pursuant to Article 4 of the Articles of Incorporation the aim and scope of the Company is, A- To carry out all the banking transactions, B- To make undertakings related to the industry, agriculture and mines and purchase the shares and debentures of the companies established for the same purposes, C- To deal with any kind of agency, attorneyship, transportation, insurance and other kinds of agency transactions to carry out general commissioning and warehousing transactions. D- To purchase and sale Turkish Republic payable bonds, Treasury bonds and debentures and the payable bonds of other official and private bodies and entities in compliance with the provisions of capital market legislations. E- To be an incorporator shareholder of Sugar Factories. F- To mediate the credit and other transactions of Sugar Beat Cooperatives and their members with Sugar Factories, Banks and other companies, when it is deemed required being a guarantor for the credits to be obtained by them provided that the explanations that are required to be made by the Capital Market Board are made. G- To deal with the activities those are required for the economical development of the Country and permitted by the Bank Law and the related legislations and undertake any works for this purpose. H- To carry out and perform any activities and transactions those are permitted by the Bank Law and related legislations and laws. I- To establish or cancel any pledges, deposits, liens, trade operation pledges and any other securities on any asserts against the receivables of the Company or any third party, to be a guarantor for the receivables of third parties, to cancel the given securities or guarantees proved that making the explanations required to be made by the Capital Market Board. B. 1. INFORMATION ON EXISTING CAPITAL AND SHARES i) Registered Capital Ceiling ii) Issued Capital : : 2 400.000.000 YTL 125.000.000 YTL 2. The real or juridical person shareholders holding 5% or more of the paid capital as of the last two ordinary general meetings of members: Shareholder’s; Trade Title/ Name Surname ŞEKERBANK T.A.Ş. Personnel Additional Social Security and Support Fund Foundation ŞEKERBANK T.A.Ş. Personnel Social Insurance Fund Foundation TURANALEM Securities JSC Kayseri Şeker Fabrikası A.Ş. Konya Şeker Fabrikası A.Ş. S.S. Afyon Sugar Beat Production Coop. S.S. Akşehir-Ilgın Sugar Beat Production Coop. S.S. Amasya Sugar Beat Production Coop. S.S. Ankara Sugar Beat Production Coop. S.S. Balıkesir-Bursa Sugar Beat Production Coop. S.S. Burdur-Isparta Sugar Beat Production Coop. S.S. Dinar Sugar Beat Production Coop. S.S. Elbistan Sugar Beat Production Coop. S.S. Eskişehir Sugar Beat Production Coop. S.S. Kayseri Sugar Beat Production Coop. S.S. Kırşehir Sugar Beat Production Coop. S.S. Konya Sugar Beat Production Coop. S.S. Kütahya Sugar Beat Production Coop. S.S. Sivas Sugar Beat Production Coop. S.S. Turhal Sugar Beat Production Coop. PANKOBİRLİK S.S. Sugar Beat Production Coop. Sugar Beat Producers Health and Training Foundation Commonwealth Of Pennsylvania Public School Employees Retirement System Teachers Retirement System Of Louisiana PUBLIC SALE TOTAL Shareholding 30/04/2007 (Thousand (%) YTL) 29/03/2006 (Thousand (%) YTL) 66.912 53.530 42.473 21/05/2007 (Thousand (%) YTL) 33.979 42.473 33.9787 18.035 14.428 2.480 1.984 - - 602 6.435 350 535 0.482 5.148 0.280 0.428 42.473 50 - 33.979 0.040 - 42.473 50 - 33.9787 0.040 - 37 19 442 0.030 0.015 0.354 37 19 0.030 0.015 37 19 0.030 0.015 442 0.353 442 0.353 38 0.030 76 1.145 300 0.061 0.916 0.240 38 1 432 300 0.030 0.001 0.346 0.240 38 1 432 0.030 0.001 0.346 765 7 1.836 21 0.612 0.006 1.469 0.017 765 7 - 0.612 0.006 - 300 765 7 - 0.240 0.612 0.006 - 3 46 381 0.002 0.037 0.305 3 46 381 0.002 0.037 0.305 3 46 0.002 0.037 2 0.002 2 0.002 381 - 0.305 - - - 6 0.006 - - 27.013 125.000 21.610 100,00 18 35.027 125.000 0.015 28.022 100,00 37.533 125.000 30.026 100,00 3. The kinship relations among the shareholders whose shareholding or voting rights are equal to 5% or more of the paid capital: NO 4. The real or juridical persons who own the Company capital directly or indirectly; Shareholding Amount (YTL) Percentage (%) Name Surname / Trade Title Bank TuranAlem Group 5. 42.473.385,00 33,9787 The shareholders that can effect the issuer management directly or indirectly: Name Surname / Trade Title Shareholding Amount (YTL) Percentage (%) ŞEKERBANK T.A.Ş. Personnel Additional Social Security and Support Fund Foundation TuranAlem Securities JSC 3 42.473.385,00 33,9787 42.473.385,00 33,9787 6. 7. Information representing the shares; Issuanc e Group Privilege Type Registered /Bearer Shares Share Nominal Value (YTL) Total (YTL) Capital Shareholdin g (%) XI XII XIII NO NO NO NO NO NO REGISTERED REGISTERED REGISTERED 1 1 1 76.000.000 9.000.000 40.000.000 60,8 7,2 32,0 TOTAL 125.000.000 100 Information on the capital increases or decreased performed within the last three years together with their sources, created/canceled share groups and other transactions effecting the number of shares: Increase Cash Emission Capital Amount Premium Increase Date 27.04.2004 9.000.000 9.000.000 18.02.2005* 40.000.000 *Capital increase was registered in the accounting records in 2004. YDDAF - Reserves 40.000.000 (YES) Other - 8. If the Company issued any shares by public sale or assigned sale within the last twelve months, information on the characteristics of these transactions, number and characteristics of the shares subject to these transactions and the related real and/or juridical persons: NO 9. Selection of the management and audit organs pursuant to the provisions of the Articles of Incorporation: BOARD OF DIRECTORS: Article 21- The transactions of the Company are realized by a Board of Directors consists of no less than 9 (nine) and no more than 13 (thirteen) members (including the General Manager, who is a natural member of the Board of Directors). On the other hand, if any person who is not a shareholder is assigned as a Board of Directors member, they can start to work as a Board of Directors member only after they become a shareholder of the Company. A juridical person, who is also a shareholder, can not be a Board of Directors member. On the other hand, real persons who are the representatives of the juridical persons can be assigned as Board of Directors members Bank general manager or in case of his absence his deputy shall be the natural members of the Board of Directors. The Board of Directors members have to give an oath in compliance with the relevant articles of Banks Law after their assignment. OFFICE PERIOD FOR THE BOARD OF DIRECTORS MEMBERS: Article 22 – The Board of Directors members are assigned with an office period of three years. At the end of this period the Board of Directors shall be renewed. The General Assembly shall have the right to replace the Board of Directors members at any time when it is deemed required. NUMBER AND OFFICE PERIODS OF THE AUDITORS: Article 36- The General Assembly might assign three auditors either among the shareholders or other persons for an office period of there years. More than half of the auditors have to be Turkish citizens. The auditors whose office periods are over can be reassigned. The Board of Directors members can not be assigned as an auditor unless they are accrued by the general assembly. The Auditors can not be assigned as Board of Directors members or work as an officer of the Company. Pursuant to the provisions of Banks Law, the persons who are prohibited to work at the banks can not be assigned as auditors. 4 10. Information on the aggravated quorums stated in Articles of Incorporation: MEETING AND DECISION QUORUMS FOR THE BOARD OF DIRECTORS: Article: 30- The meeting quorum for the Board of Directors is seven (7) and the decisions are taken by the positive decisions of seven members attending the meeting. For the issues related to the rights, authorities and responsibilities of the Board of Directors members and the management of the Company but not stated in this Articles of Incorporation the provisions of Banks Law, Capital Market Board Legislations and Turkish Commercial Code are applied. The Board of Directors meetings shall not be binding unless they are signed and registered in the decision book. QUORUM: Article: 52- Unless otherwise stated in Turkish Commercial Code and this Articles of Incorporation, the shareholders representing at least 67% of the company capital is required to be present by person or proxy at the ordinary and extraordinary General Assembly meetings. If the required meeting quorum can not be met at the first meeting, the shareholders are invited to the second meeting. The relevant provisions of Turkish Commercial Code are applied for such second meeting. In the general assembly meetings decisions are taken by the majority of the votes represented at the meeting by person or proxy. The second meeting shall be held no less than two weeks and no more than one month later from the first meeting. 11. The Rights given to the benefit bonds issued pursuant to the provisions of Articles 402-403 of Turkish Commercial Code: NO 12. Transfer of shares: TRANSFER AND LAW CESSION OF REGISTERED SHARES: Article: 12- Registered share certificates can be transferred provided that the liabilities stated in the İMKB Quotation Regulation are saved. Such a transfer shall be valid and binding for the company or third parties only if it is registered in the Company share book. On the other hand, the exceptional provisions of Capital Market Board and the liabilities stated in İMKB Quotation Regulation are saved. The registration transaction is carried out upon the submission of the share certificate or the transfer document. The Company doesn’t have to investigate the correctness and validity of the endorsements or transfer law cession declarations. 13. Information about if the same group shares of the Company are quoted/listed at the stock exchange (İMKB or other stock exchanges) or if there exists an application for this purpose: The share certificated of the Company are listed at İMKB. 14. Within current and previous years of the declaration preparation; a) Purchase offers of the third parties for the shares of the Company: On 07.07.2005, Rabobank International Holding B.V. offered 2,72 for each share with a nominal value of 1 YTL for 36,50% of the shares with a total amount of 124.137.116 YTL. On 21.06.2006, TuranAlem Securities JSC offered 10,00 for each shares with a nominal value of 1 YTL for %33,9787 of the shares with a total amount of 424.733.850 YTL. b) The purchase offers made by the Company for the shares and/or share certificates of other companies: NO c) Information on the price and results of the stated offer: as a result of the offer stated in paragraph “a” above, Rabobank International Holding B.V. purchased the shares of the Company. As a result of the offer made by TuranAlem Securities JSC, on 15.03.2007 %33,9787 of the shares of our company was sold with an aggregate amount of 424.733.850 YTL and in this transaction 1o YTL was paid for each share with a nominal value of 1 YTL. TuranAlem Securities JSC applied to Capital Market Board for a call exemption and this application was 5 approved by the Board on 26.04.2007. Some of our shareholders applied to Istanbul 14th Court of First Instance for the cancellation of the decisions taken at the general assembly decision dated 04.08.2006. This court case was registered with number 2006/501 E, the proofs related to the case were collected and the file was submitted to the experts. Now we wait for the return of the file from the expert and the court session shall be held on 03.10.2007. II. INFORMATION ON THE INCREASE CAPITAL SHARES 1. Decisions of the organ authorized to issue shares: The Board of Directors decision dated 10/04/2007 numbered 289 is given below. It was decided to increase our Company capital from 125.000.000 YTL to 400.000.000 YTL by adding 275.000.000 YTL (at 220% level). 2. Information on the XIV. Issue shares to be issued to represent the capital to be increased against cash: 3. Share Group Registered/ Bearer NO REGISTERED Nominal Value of a Number of share (YTL) Shares 1,00 TOTAL 275.000.000 275.000.000 Total Nominal Value (Thousand YTL) 275.000,00 275.000,00 a) The distribution of the capital increase made from internal resources is given below (YTL): NO i. Extra ordinary Reserve Funds : ii. Real estate Sale Profit : iii. Partnership Sale Profit : iv. Company Capital Inflation Correction : Differences v. Other : TOTAL : b) Information on the …… issue shares to be taken from the equities and distributed among the existing shareholders free of charges: NO Share Group - 4. Registered/ Bearer - Nominal Value of this Share (YTL) TOTAL Number of Shares - Total Nominal Value (Thousand YTL) - a) The XIV. …. Issue shares to be issued as a result of this capital increase does not restrict the new share purchase rights for the sales to be made later and they shall have the right to purchase share in the new issuances. b) The shares to be issued shall have the right to obtain dividends as of the financial period in which the circular related to the new share purchase rights, in case a profit is obtained, they shall have the right to receive dividends from 2007 year profit. On the other hand, if the financial term in which the announcement on the new share purchase right was made is completed, the shares sold after the completion of the financial period shall have the right to receive dividends from the 2008 year profit. c) The Date on which the right to receive dividends is obtained: The dividend receiving 6 right is obtained as of the date on which the announcement on the use of new share purchase right is made. 5. The privileged shares to be issued in this capital increase and the privilege characteristics: NO 6. The rights of the investors stem from the shares to be issued: Right to get share from the profit (SPKn Art.15), Right to get share from liquidation (TTK Art. 455), right to acquire shares free of charge (SPKn Art. 15), right to purchase new shares (TTKArt. 394, for the companies included in the registered capital system SPKn Art. 12), right to take part in the general assembly meetings (TTKn Art. 360), to take part in discussions at the general assembly meetings (TTkn Art. 375, Art. 369), voting right (TTK Art.373,374), right to get information (SPKn Art. 16, TTK Art. 362), examination and audit right (TTK Art. 363), right to open cancellation case (TTK Art. 381-384, for the companies included in the registered capital system SPKn Art. 12). On the other hand, the “minority rights” stated in TTK Art. 341, 348, 356, 359, 366, 367 and 376. can be used by the shareholders representing at least one twentieth of the capital (SPKn Art. 11). 7. Information on transfer of the shares or any limitations related to these: Explained in Part I/B/12. 8. Information on if the new share purchase rights are restricted, if restricted the reasons of such restrictions: No restrictions 9. If exists, the amount and number of the shares allocated to specific persons: NO 10. If an allocation decision was taken for the shares left after the use of new share purchase right: NO 11. The names, addresses of the real or juridical persons who undertake to purchase the shares and the purchase price of each share: Şekerbank T.A.Ş. Personnel Additional Social Security and Support Fund Foundation İnönü Caddesi Tümşah Han No: 70 Kat:1 Gümüşsuyu / ISTANBUL TuranAlem Securities JSC Ulitza Khusainova 281 Granit Business Center Almaata, 050051 Kazakhstan When selling the Remaining Shares, the sale price of a share with a nominal value of 1 YTL shall be the price occurred at İMKB provided to be no less than the nominal value. 12. The rules related to the use of the new share purchase right by the shareholders a) The term of using the new share purchase rights: 15 days. The commencement and completion dates of this period shall be stated in the circular to be announced. If the last day of the disposal period for the new share purchase right is an official holiday, it shall be completed at 17:00 on the following working day. b) New share purchase rates of the shareholders on the basis of their existing shareholding in the %220 paid/issued capital: c) The bank branch and the account number where the purchase prices are to be deposited: 7 Şekerbank T.A.Ş. Gümüşsuyu Branch Special Account No: 20153967 d) Application method: a) Basis related to the recorded shares i) Our shareholders who want to use the right to purchase new shares shall apply to the place(s) stated in paragraph (e) and submit the new share purchase coupons numbered 3 for their share certificates (the share certificates owned by them). Since the share certificates owned by our shareholders are monitored by the Central Registry Institution pursuant to the provisions of the regulations on registration system under Capital Market Legislation, if our shareholders deliver the share certificates owned by them, these delivered share certificates, a written report stating that these certificates shall be monitored with records by the Central Registry Institution shall be given to them. Our shareholders, who shall use their new share purchase rights, shall deposit the new share amounts agreed together with the Company to the above mentioned Bank Account number 20151967 at the above mentioned bank account within the new share purchase right disposal period completely in cash and submit a copy of the payment voucher to the Company. ii) If the share amounts are not paid within the stated new share purchase right disposal period, the previous transactions shall be cancelled. iii) Our shareholders, who do not want to use their new purchase sale rights in this capital increase, shall have the right to relevant coupon within the new share purchase right disposal period. No physically printed share certificates shall be submitted for the shares to be issued in the future. The financial rights related to the share certificates that shall have not been delivered by 31 December 2007 shall be monitored in the records of MKK after that date and the rights related to the management shall be used by MKK. If the right owners deliver their share certificates in compliance with the relevant rules after 31 December 2007, their financial rights monitored from the registers of MKK shall be transferred to their accounts. The recorded shares certificates physically kept by the right owners can not be listed at the stock exchange. In order to have them listed at the stock exchange and have them recorded they have to be delivered and the registries about their ownership should be formed in MKK. b) Rules Related to the Recorded Shares i) Our shareholders who desires to use their new share purchase rights shall pay the new share amounts agreed with the Company to the Account numbered 20153967 opened at the above mentioned bank account within the new share purchase right disposal period all at once in cash and a copy of the payment voucher shall be submitted to the Company. ii) If the share amounts are not paid within the new share purchase right disposal period, the previous transactions shall be cancelled. ii) Our shareholders, who do not want to use their new share purchase right in this capital increase, shall have the right to relevant coupon within the new share purchase right disposal period. e) Application Place(s): Şekerbank T.A.Ş. General Management Investor Relations and Subsidiaries Management Büyükdere Cad. No:171 Metrocity A-Blok 34330 1.Levent/Istanbul Şeker Yatırım Duran Varlıklar A.Ş. Fulya Mah. Şenol Sokak No: 13/3 Şişli/Istanbul f) Share distribution time and place: The shares owned by all our shareholders shall be monitored from the registers of MKK under the frame of Capital Market Legislation. 13. Distribution basis for the shares to be given free of charge: NO 8 14. Rules related to the public offering of the shares remaining after the use of new share purchase rights: a) Public offering period: is 2 days. The commencement and completion days of this period shall be stated in the circular to be announced. b) The newspapers where the public offering circular is to be announced: Dünya and Referans Newspapers c) Application method and place: The investors who desire to be a shareholder of the Company by purchasing shares in this capital increase should apply to one of the stock exchange members formed by the banks and brokers authorized to carry out transactions at Istanbul Stock Exchange within the sale period. When the share amounts are collected by Şeker Yatırım Duran Varlıklar A.Ş., the stock exchange member carrying out the sale transactions, these shall be deposited to the Special Account numbered 20153967 opened at Şekerbank T.A.Ş. Gümüşsuyu Branch. d) Share distribution time and place: The shares of the shareholders who purchased shares offered to public after the use of share purchase rights shall be started to be monitored by the MKK on the basis of the registrations of the right owners within the frame of the Capital Market Legislations 15. Sale price: a) The sale price for a share with a nominal value of 1,00 YTL while using the new share purchase right: 1,00 YTL. b) The sale price of a share with a nominal value of 1 YTL and that was left after the use of share purchase right: The price to be occurred at İ.M.K.B. provided that no less than the nominal value. 16. Sale Method: Pursuant to the provisions of the Capital Market Board Announcement numbered VIII - 22 “Sale at Stock Exchange” shall be applied. 17 Information on the assignments to the specific countries if the sale is to be made in several countries at the same time: NO 18. Evaluations of the management and the broker companies about the methods employed for the determination of the prices and the prices: The shares shall be sold on their nominal value. 19. a) The institution(s) that shall act as a brokers in the sales and/or the institution(s) that shall make an undertaking and the institution(s) that render cashier services and their addresses: Şeker Yatırım Duran Varlıklar A.Ş. Fulya Mah. Şenol Sokak No:13/3 Şişli-Istanbul Tel: (0212) 213 43 70 b) The type of brokering and the amount of the shares that were not undertaken: “Best effort brokering” 9 c) The total amount to be paid to the broker company/companies and the share of this amount within the total shares to be issued: Total amount to be paid to the broker Company is 41.250 YTL and its share within the total shares to be issued is 4,55%. 20. Total or per share cost to be paid by the Company for the issuance of the shares: Total public offer cost is 906.250 YTL and the cost per share is 0,0033 YTL. 21. Estimated net cash entry for the Company and where this amount to be used: 274.093.750 YTL to be gained from the capital increase shall be used to strengthen the capital structure of the Bank. 22. Elapse of time for dividend receiving right: The profit share amounts that are not collected by the shareholders and other persons having a share in the profit and the dividend advance amounts that can not be collected by the shareholders shall be subject to elapse of time within five years after the dare of distribution. The provisions of Law numbered 2308 on the Transfer of the Coupons Debenture and Share Certificate fees subject to elapse of time to the Treasury shall be applied for the dividend and dividend advance amounts subject to elapse of time. 10 III. INFORMATION ON FINANCIAL SITUATION A. FINANCIAL TABLES OF THE COMPANY PREPARED IN COMPLIANCE WITH THE TURKISH ACCOUNTING STANDARDS The footnotes for the financial tables of the Company for 2005 and 2006; and as of 31/03/2006 and 31/03/2007 intermediate terms are given below. i) The consolidated balance sheets of the Company as of 31.12.2005, 31.12.2006 and 31/03/2007: II. 2.1 2.1.1 2.1.2 2.1.3 2.2 2.2.1 2.2.2 2.2.3 2.3 ŞEKERBANK T.A.Ş. CONSOLIDATED BALANCE SHEET ASSETS CASH AND BALANCES WITH THE CENTRAL BANK OF TURKEY FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT AND LOSS (Net) Financial assets held for trading Public sector debt securities Securities representing a share in capital Other marketable securities Financial assets at fair value through profit and loss Public sector debt securities Securities representing a share in capital Other marketable securities Derivative financial assets held for trading III. IV. 4.1 4.2 4.3 V. 5.1 5.2 5.3 VI. 6.1 6.2 6.3 VII. VIII. 8.1 8.2 IX. 9.1 9.2 9.2.1 9.2.2 X. 10.1 10.2 XI. 11.1 11.2 11.2.1 11.2.2 BANKS AND OTHER FINANCIAL INSTITUTIONS MONEY MARKET SECURITIES Interbank money market placements Istanbul Stock Exchange money market placements Receivables from reverse repurchase agreements FINANCIAL ASSETS AVAILABLE FOR SALE (Net) Securities representing a share in capital Public sector debt securities Other marketable securities LOANS Loans Loans under follow-up Specific provisions (-) FACTORING RECEIVABLES INVESTMENTS HELD TO MATURITY (Net) Public sector debt securities Other marketable securities INVESTMENTS AND ASSOCIATES (Net) Consolidated with equity method Non-consolidated investments and associates Financial investments and associates Non-financial investments and associates SUBSIDIARIES (Net) Financial subsidiaries Non-financial subsidiaries JOINT VENTURES (Net) Consolidated with equity method Non-consolidated joint ventures Financial joint ventures Non-financial joint ventures I. 11 TRY THOUSAND 31.03.2007 366.337 31.12.2006 31.12.2005 319.100 280.200 282.265 279.252 276.533 2.719 3.013 248.726 248.011 247.775 236 715 308.454 307.724 307.675 49 730 93.895 8.615 8.615 891.105 891.105 2.703.154 2.684.708 133.192 114.746 66.479 111.545 111.545 15.229 15.229 11.563 3.666 1.576 1.576 - 285.122 1.000 1.000 823.985 823.985 2.043.951 2.017.511 287.441 261.001 66.622 117.521 117.521 15.409 15.409 11.577 3.832 1.624 1.624 - 185.895 5.000 5.000 784.633 782.252 2.381 1.194.327 1.168.897 254.377 228.947 43.757 239.593 239.593 10.537 10.537 6.866 3.671 1.445 1.445 - XII. 12.1 12.2 12.3 12.4 XIII. 13.1 13.2 13.3 XIV. XV. 15.1 15.2 XVI. 16.1 16.2 XVII. XVIII. I. II. III. IV. 4.1 4.2 4.3 V. 5.1 5.2 5.3 VI. VII. VIII. IX. X. 10.1 10.2 10.3 10.4 XI. 11.1 11.2 11.3 XII. 12.1 12.2 12.3 12.4 12.5 XIV. 14.1 14.2 XV. XIII. RECEIVABLES FROM LEASING TRANSACTIONS (Net) Finance lease receivables Operational leasing receivables Others Unearned income ( - ) DERIVATIVE FINANCIAL ASSETS HELD FOR HEDGING Fair value hedges Cash flow hedges Hedges for investments made in foreign countries PROPERTY AND EQUIPMENT (Net) INTANGIBLE ASSETS [Net] Goodwill Other TAX ASSETS Current assets for tax Deferred assets for tax PROPERTY AND EQUIPMENT HELD FOR SALE PURPOSE (Net) OTHER ASSETS TOTAL ASSETS LIABILITIES DEPOSITS DERIVATIVE FINANCIAL LIABILITIES HELD FOR TRADING FUNDS BORROWED INTERBANK MONEY MARKET Interbank money market takings Istanbul Stock Exchange money market takings Funds provided under repurchase agreements MARKETABLE SECURITIES ISSUED (Net) Bills Asset backed securities Bonds FUNDS MISCELLANEOUS PAYABLES OTHER EXTERNAL RESOURCES FACTORING PAYABLES LEASING TRANSACTIONS PAYABLES (Net) Finance leasing payables Operational leasing payables Other Deferred finance leasing expenses ( - ) DERIVATIVE FINANCIAL LIABILITIES HELD FOR HEDGING Fair value hedges Cash flow hedges Hedges for investments made in foreign countries PROVISIONS General provisions Restructuring reserves Reserves for employee benefit Insurance technical reserves (Net) Other provisions TAX LIABILITIES Current liabilities for tax Deferred liabilities for tax LIABILITIES FOR PROPERTY AND EQUIPMENT HELD FOR SALE PURPOSE SUBORDINATED LOANS 12 68.537 80.715 12.178 135.841 4.313 4.313 20.219 16.089 4.130 116.904 4.886.014 67.310 78.290 10.980 129.408 3.531 3.531 9.242 6.584 2.658 71.302 4.203.853 69.167 84.289 15.122 95.014 3.320 3.320 35.993 21.346 14.647 73.463 3.330.798 31.03.2007 3.498.541 15.740 223.055 433.354 433.354 48.089 24.282 49.558 2.491 97.251 23.641 19.175 54.435 36.564 36.564 - 31.12.2006 3.110.461 3.714 189.684 281.620 281.620 50.393 15.316 16.969 2.657 84.461 17.351 13.733 53.377 27.709 27.709 - 31.12.2005 2.540.306 1.456 135.979 75.708 75.708 52.498 11.167 46.554 4.284 69.216 9.249 12.509 47.458 38.807 38.807 - - - - XVI. 16.1 16.2 16.2.1 16.2.2 16.2.3 16.2.4 16.2.5 16.2.6 16.2.7 16.2.8 16.2.9 16.3 16.3.1 16.3.2 16.3.3 16.3.4 16.4 16.4.1 16.4.2 16.5 SHAREHOLDERS` EQUITY Paid-in capital Supplementary capital Share premium Share cancellation profits Marketable securities value increase fund Value increase in revaluation fund of property and equipment Value increase in revaluation fund of intangible assets Free shares from investment and associates, subsidiaries and joint ventures Hedging funds (Active part) Value increase in property and equipment held for sale purposes Other capital reserves Profit reserves Legal reserves Status reserves Extraordinary reserves Other profit reserves Profit or loss Prior year income/loss Current year income/loss Minority TOTAL LIABILITIES 457.089 125.000 94.865 552 5.136 29.877 59.300 139.942 24.943 117.775 (2.776) 92.504 56.048 36.456 4.778 4.886.014 13 420.869 125.000 96.571 552 6.784 29.935 59.300 140.029 24.943 117.775 (2.689) 56.048 10.487 45.561 3.221 4.203.853 354.823 125.000 76.503 552 16.651 59.300 101.693 22.796 81.773 (2.876) 48.636 12.441 36.195 2.991 3.330.798 ii) I. 1.1 1.2 1.3 1.4 1.5 1.5.1 1.5.2 1.5.3 1.5.4 1.6 1.7 II. 2.1 2.2 2.3 2.4 2.5 III. IV. 4.1 4.1.1 4.1.2 4.1.3 4.2 4.2.1 4.2.2 4.2.3 V. VI. 6.1 6.2 VII. VIII. IX. X. XI. XII. Consolidated income tables of the Company years ending as of 31.12.2005 and 31.12.2006 and the intermediate terms ending as of 31/03/2006 and 31/03/2007 INCOME STATEMENT INTEREST INCOME Interest on loans Interest received from reserve deposits Interest received from banks Interest received from money market transactions Interest received from marketable securities portfolio Financial assets held for trading Financial assets where value change is reflected to income statement Financial assets available for sale Investments held to maturity Finance lease income Other interest income INTEREST EXPENSE Interest on deposits Interest on funds borrowed Interest on money market transactions Interest on securities issued Other interest expense NET INTEREST INCOME (I - II) NET FEES AND COMMISSIONS INCOME Fees and commissions received Cash loans Non-cash loans Other Fees and commissions paid Cash loans Non-cash loans Other DIVIDEND INCOME NET TRADING INCOME Profit/losses on trading account securities (Net) Foreign exchange gains/losses (Net) OTHER OPERATING INCOME TOTAL OPERATING INCOME (III+IV+V+VI+VII) PROVISION FOR LOAN OR OTHER RECEIVABLES LOSSES (-) OTHER OPERATING EXPENSES (-) NET OPERATING INCOME/EXPENSE (VIII-IX-X) SURPLUS WRITTEN AS GAIN AFTER MERGER XIII. XIV. XV. XVI. 16.1 16.2 XVII. 17.1 17.2 XVIII. 18.1 18.2 3. 31.03.2007 208.732 132.963 4.801 1.983 306 59.369 8.388 45.932 5.049 2.666 6.644 110.059 95.267 5.525 7 9.260 98.673 32.100 36.363 7.287 10.922 18.154 4.263 9 146 4.108 4.003 (4.350) 8.353 44.099 178.875 53.472 81.854 43.549 - PROFIT/LOSSES FROM EQUITY METHOD APPLIED ASSOCIATES NET MONETARY POSITION GAIN/LOSS INCOME/EXPENSE BEFORE TAXES (XI+XII+XIII+XIV) PROVISION FOR TAXES ON INCOME (±) Current tax provision Deferred tax provision OPERATING INCOME/LOSS AFTER TAXES Activities stopped Others NET PROFIT/LOSSES (XV±XVI+XVII) Group's profit/loss Minority shares Earnings/Losses per share 43.549 (6.692) (7.734) 1.042 36.857 36.857 36.857 36.456 401 0,0003 31.12.2006 531.926 328.260 14.002 4.589 938 153.322 41.981 103.968 7.373 9.128 21.687 287.525 246.180 16.668 1.044 23.633 244.401 112.043 126.259 32.090 42.748 51.421 14.216 94 14.122 613 (8.842) 11.044 (19.886) 160.067 508.282 155.027 285.080 68.175 68.175 (24.618) (14.621) (9.997) 43.557 43.557 43.557 45.561 (2.004) 0,0004 31.03.2006 124.045 67.258 2.854 1.439 237 44.573 11.419 25.204 7.950 7.684 64.268 55.652 1.656 483 6.477 59.777 23.906 27.680 6.127 9.937 11.616 3.774 3.774 603 23.205 24.765 (1.560) 26.455 133.946 37.723 72.799 23.424 31.12.2005 567.985 358.122 10.611 2.159 180 163.324 40.383 49.637 73.304 10.176 23.413 260.185 205.282 18.451 992 35.460 307.800 106.763 128.330 30.231 41.391 56.708 21.567 21.567 16.182 (11.336) 27.518 61.343 492.088 157.917 280.380 53.791 - - 23.424 (11.183) (6.184) (4.999) 12.241 12.241 12.241 12.448 (207) 0,0001 53.791 (17.228) (27.557) 10.329 36.563 36.563 36.563 36.195 368 0,0003 Profit Distribution Tables for the Last Three Years: In the general meeting of members of our Bank held on 30 April 2007, it was decided to separate 3,868,409 YTL of the 2006 profit at an amount of 77,368,185 YTL and taken as a base for distribution as legal reserves and assign remaining 73,499,776 YTL as the extra ordinary reserves. No dividend distribution was made in 2005. In 2005 the profits taken as a base for profit distribution was 37,029,350 YTL and 1,852,500 YTL of this amount shall be allocated as legal reserves and remaining 35,176,850 YTL shall be allocated as extra ordinary reserves. 14 BILLION TURKISH LIRAS PROFIT DISTRIBUTION TABLE ( 31/12/2004 ) I. TERM PROFIT DISTRIBUTION 1.1.TERM PROFIT 95.005 1.2.TAXES AND OTHER LIABILITIES TO BE PAID (-) 24.429 1.2.1.Incorporation Tax (Income Tax) 23.848 1.2.2.Income Tax Deduction 581 1.2.3.Other Taxes and Legal Liabilities A. NET TERM PROFIT (1.1-1.2) 70.576 1.3.PREVIOUS TERMS LOSSES (-) 1.4.FIRST LEGAL CAPITAL RESERVE (-) 3.529 1.5.FUNDS THAT HAVE TO BE KEPT AT THE BANK AND SAVED (-) B. NET DISTRIBUTED TERM PROFIT [(A-(1.3+1.4+1.5)] 67.047 1.6.FIRST DIVIDEND TO THE SHAREHOLDERS (-) 1.6.1.To the Share Certificate Owners 1.6.2.To the Privileged Share Certificate Owners 1.6.3 To Contribution Benefit Shares 1.6.4.To the Debentures Receiving Shares 1.6.5.To the Profit and Loss Partnership Certificate Owners 1.7.DIVIDENDS TO THE PERSONNEL (-) 1.8. DIVIDENDS TO THE BOARD OF DIRECTORS (-) 1.9.SECOND DIVIDEND TO THE SHAREHOLDERS (-) 1.9.1.To the Share Certificate Owners 1.9.2.To the Privileged Share Certificate Owners 1.9.3.To the Contribution Benefit Owners 1.9.4.To the Share Receiving Bonds 1.9.5.To the Profit and Loss Partnership Certificate Owners 1.10.SECON LEGAL CAPITAL RESERVE FUND (-) 1.11.STATUEARY RESERVES (-) 1.12.EXTRA ORDINARY RESERVES 1.13.OTHER RESERVES 1.14.SPECIAL FUNDS II. DISTRIBUTION FROM THE RESERVES 2.1.DISTRIBUTED RESERVES 2.2.SECOND LEGAL RESERVES (-) 2.3.SHARE TO THE SHAREHOLDER (-) 2.3.1.To the Share Certificate Owners 2.3.2.To the Privileged Share Certificate Owners 2.3.3.To Contribution Benefit Bonds 2.3.4.To the Share Receiving Debentures 2.3.5.To the Profit and Loss Partnership Certificate Owners 2.4.SHARE TO THE PERSONNEL (-) 2.5.SHARE TO THE BOARD OF DIRECTORS (-) III. PROFIT PER SHARE 3.1.TO SHARE CERTIFICATE OWNERS 351 3.2.TO SHARE CERTIFICATE OWNERS ( % ) 35,1 3.3.TO PRIVILEGED SHARE CERTIFICATE OWNERS 3.4.TO PRIVILEGED SHARE CERTIFICATE OWNERS ( % ) IV. DIVIDEND PER SHARE 4.1.TO SHARE CERTIFICATE OWNERS 4.2.TO SHARE CERTIFICATE OWNERS ( % ) 4.3.TO PRIVILEGED SHARE CERTIFICATE OWNERS 4.4.TO PRIVILEGED SHARE CERTIFICATE OWNERS ( % ) - 4. Information per Share (1 Share = 1 YTL): a) Number of Shares 31.03.2007 31.12.2006 31.03.2006 31.12.2005 125.000.000 125.000.000 125.000.000 125.000.000 15 b) Book value of 1 Share (YTL) c) Net Profit Per Share - Common Share Certificate - Privileged Share Certificate d) Net Profit Corrected per Share (YTL) (*) (*) Formula used for the Calculation of Net Profit per Share: d) Dividend per Share - Common Share Certificate - In cash - In the form of Share Certificates - Privileged Share Certificate - In cash - In the form of Share Certificates e) Corrected Dividend per Share (**) (**)Formula used for the Calculation of Net Profit per Share: iii) 0,0037 0,0002 0,0002 - 0,0035 0,0004 0,0004 - 0,0030 0,0001 0,0001 - 0,0030 0,0003 0,0003 - - - - - - - - - Company cash flow tables (*): 1.1 CASH FLOWS FROM BANKING OPERATIONS Operating profit before changes in operating assets and liabilities 31.03.2007 (115.433) 31.12.2006 135.424 31.03.2006 (151.995) 31.12.2005 183.550 1.1.1 1.1.2 1.1.3 1.1.4 1.1.5 1.1.6 1.1.7 1.1.8 1.1.9 Interest received (+) Interest paid (-) Dividend received (+) Fees and commissions received (+) Other income (+) Collections from previously written off loans and other receivables (+) Payments to personnel and service suppliers (-) Taxes paid (-) Other (+/-) 206.450 (92.022) 36.363 52.450 23.975 (40.797) (16.089) (285.763) 573.896 (278.372) 613 126.259 (29.977) 89.569 (150.977) (6.584) (189.003) 180.987 (66.730) 603 27.680 51.220 27.613 (36.456) (26.579) (310.333) 570.451 (261.041) 128.330 (4.008) 55.269 (131.569) (21.346) (152.536) 1.2 Changes in operating assets and liabilities 21.202 (44.704) (95.284) 282.327 (32.606) 56.890 (542.110) 298.334 (502.452) (68.391) 149.031 386.054 32.061 57.505 (94.231) (877.956) (21.481) 205.552 565.602 52.928 (26.239) 90.720 205.668 14.208 187.572 11.176 (4.767) 32.969 (247.279) 49.439 (65.466) (187.047) 183.213 (19.288) 23.142 465.877 (53.629) 14.384 120.583 (452.114) - (5.932) (38) (11) 148 (13.292) 6.169 (598.875) 542.336 (73.047) (2.593) 902 (217.375) 319.823 - (16.322) 5.132 (735.511) 938 (36.660) 1.2.1 Net (increase) decrease in financial assets held for trading (+/-) Net (increase) decrease in financial assets where fair value change is reflected to 1.2.2 I/S 1.2.3 Net (increase) decrease in due from banks and other financial institutions (+/-) 1.2.4 Net (increase) decrease in loans 1.2.5 Net (increase) decrease in other assets (+/-) 1.2.6 Net increase (decrease) in bank deposits (+/-) 1.2.7 Net increase (decrease) in other deposits (+/-) 1.2.8 Net increase (decrease) in funds borrowed (+/-) 1.2.9 Net increase (decrease) in matured payables (+/-) 1.2.10 Net increase (decrease) in other liabilities (+/-) I. Net cash provided from banking operations(+/-) B. CASH FLOWS FROM INVESTING ACTIVITIES II. Net cash provided from investing activities(+/-) 2.1 2.2 2.3 2.4 2.5 2.6 2.7 Cash paid for purchase of investments, associates and joint ventures Cash obtained from sale of subsidiaries, investments and associates and joint ventures Fixed assets purchases (-) Fixed assets sales (+) Cash paid for purchase of financial assets available for sale (-) Cash obtained from sale of financial assets available for sale (+) Cash paid for purchase of investment securities (-) - (6.730) 3.670 (170.792) 119.295 - 16 2.100 (1.172) 157.088 (211) 20.000 (136) 331.907 (1.587) Net cash provided from financing activities (+/-) 1.348 2.055 253 (5) Cash obtained from funds borrowed and securities issued (+) Cash used for repayment of funds borrowed and securities issued (-) Capital increase (+) Dividends paid (-) Payments for finance leases (-) Other (+/-) Effect of change in foreign exchange rate on cash and cash equivalents Net increase in cash and cash equivalents (I+II+III+IV) Cash and cash equivalents at beginning of the year (+) Cash and cash equivalents at end of the year (V+VI) 1.348 (11) 2.066 10.610 117.769 253 91 (126.352) 384.527 258.175 (5) 5.221 18.979 2.8 2.9 Cash obtained from sale of investment securities (+) Other (+/-) C. CASH FLOWS FROM FINANCING ACTIVITIES III. 3.1 3.2 3.3 3.4 3.5 3.6 IV. V. VI. VII. (4.522) (151.034) 502.296 351.262 17 384.527 502.296 365.548 384.527 iv) Company capital change tables*: (*) It is a must to prepare the Company capital change table financial statements by the shareholders in compliance with the provisions of Announcement numbered XI – 25 or International Financial Reporting Standards but it is not a must for the shareholders to prepare the same according to the provisions of the Announcement numbered XI – 20 or 21.) ŞEKERBANK T.A.Ş. CONSOLIDATED EQUITY FLOW TABLE THOUSAND NEW TURKISH LIRAS Paid CHANGES ON EQUITY ITEMS Paid Capital Inflation Correction Difference Capital Share Certificate Share Certificate Issuance Premiums Cancellation Profits Legal Reserves Statuary Extra ordinary Reserves Capital Reserves Other Term Net Previous Term Reserves Profit / (Loss) Profit / (Loss) Reevaluation Reevaluation Fund Value Increase Mobile Asset Value Increase Fund Except Minority Right Minority Total Total Equity Right Equity PREVIOUS TERM (31/12/2005) 125.000 59.300 552 - 11.179 - 12.430 5.730 - 78.159 - - - 292.350 3.163 295.513 Corrections Made according to TMS 8 - - - - - - - (9.395) - 16.059 - - - 6.664 59 6.723 2.1 Effect of Mistake Corrections - - - - - - - - - - - - - - - - 2.2 Effect of the Changes Made on Accounting Policies - - - - - - - (9.395) - 16.059 - - - 6.664 59 6.723 125.000 59.300 552 - 11.179 1.000 - 12.430 (3.665) - 94.218 - - - 299.014 121 3.222 302.236 121 - I. Term Beginning Balance II. III. New Balance (I+II) Effect of Loss Settlement 879 Changes within the Term IV. Increase/Decrease stem from merger - - - - - - - - - - - - - - - - V. From Mobile Assets Ready for Sale - - - - - - - - - - - - 16.651 16.651 - 16.651 VI. From Risk Protection Transactions - - - - - - - - - - - - - - - - 6.1 Protection from Cash Flow Risk - - - - - - - - - - - - - - - - 6.2 Protection from Net Investment Risk Abroad - - - - - - - - - - - - - - - - - - - - Transferred Amounts VII. From Mobile Assets Ready for Sale - - - - - - - - - - - - - - - - VIII. From Risk Protection Transactions - - - - - - - - - - - - - - - - 8.1 Protection from Cash Flow Risk - - - - - - - - - - - - - - - - 8.2 Protection from Net Investment Risk Abroad - - - - - - - - - - - - - - - - IX. Term Net Profit or Loss - - - - - - - - 36.195 - - - - 36.195 368 36.563 X. Profit Distribution - - - - 12.617 - 69.343 668 - (82.656) - - - (28) (5) (33) 18 10.1 Distributed Dividend - - - - - - - - - (18) - - - (18) (5) (23) 10.2 Amount Transferred to Reserves - - - - 12.617 - 69.343 - - (81.960) - - - - - - 10.3 Other - - - - - - - 668 - (678) - - - (10) - (10) XI. Capital Increase - - - - - - - - - - - - - - - - 11.1 In cash - - - - - - - - - - - - - - - - 11.2 Material Fixed Assets Reevaluation Value Increases Subsidiaries, Depended Companies and Controlled Companies Free of Charge Share Certificates - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Mobile Asset Value Increase Fund Paid Capital Inflation Correction Difference - - - - - - - - - - - - - - - - 11.3 11.4 11.5 - - - - - - - - - - - - - - - - 11.6 Share Certificate Issuance - - - - - - - - - - - - - - - - 11.7 Currency Differences - - - - - - - - - - - - - - - - 11.8 Other - - - - - - - - - - - - - - - - XII. Change as a result of selling the assets - - - - - - - - - - - - - - - - XIII. Changes as a result of reclassification of the assets - - - - - - - - - - - - - - - - XIV. Payables like Primary Capital - - - - - - - - - - - - - - - - XV. Payables like Secondary Capital Effects of Changes on Subsidiary Equities on Bank Equities - - - - - - - - - - - - - - - - - - - - - - - 121 - - - - - 121 (715) (594) 125.000 59.300 552 - 22.796 - 81.773 (2.876) 36.195 12.441 - - 16.651 351.832 2.991 354.823 125.000 59.300 552 - 22.796 - 81.773 (2.876) - 48.636 - - 16.651 351.832 2.991 354.823 XVI. Term End Balance (III+IV+…...+XIV+XV+XVI) CURRENT TERM (31/12/2006) I. Previous Term End Balance Interim Changes II. Increase/Decrease stem from Merger - - - - - - - - - - - - - - - - III. From Mobile Assets Ready for Sale - - - - - - - - - - - - (9.867) (9.867) - (9.867) IV. From Risk Protection Transactions - - - - - - - - - - - - - - - - 4.1 Protection from Cash Flow Risk - - - - - - - - - - - - - - - - 4.2 Protection from Net Investment Risks in Abroad - - - - - - - - - - - - - - - - Transferred Amounts V. From Mobile Assets Ready for Sale - - - - - - - - - - - - - - - - VI. From Risk Protection Transactions - - - - - - - - - - - - - - - - 6.1 Protection from Cash Flow Risk - - - - - - - - - - - - - - - - 6.2 Protection from Net Investment Risks in Abroad - - - - - - - - - - - - - - - - VII. Term Net Profit - - - (2.004) 43.557 - 19 - - - VIII. Profit Distribution - - - - 8.1 Distributed Dividend - - - 8.2 Amount Transferred to Reserves - - - 8.3 Other - - IX. Capital Increase - - 9.1 In cash - 9.2 - 9.3 Tangible Fixed Assets Reevaluation Value Increases Subsidiaries, Depended Companies and Jointly Controlled Companies Free of Charge Share Certificates 9.4 Mobile Asset Value Increase Fund 9.5 9.6 - 45.561 - - - - 45.561 36.002 - - (38.149) - - - - (11) (11) 2.147 - - - - - - - - - - - - (11) (11) - 2.147 - 36.002 - - (38.149) - - - - - - - - - - - - - - - - - - - - - - - - - - - - 29.935 - - 29.935 2.066 32.001 - - - - - - - - - - - - - 2.066 2.066 - - - - - - - - - 29.935 - - 29.935 - 29.935 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Paid Capital Inflation Correction Difference - - - - - - - - - - - - - - - - Share Certificate Issuance - - - - - - - - - - - - - - - - 9.7 Currency Differences - - - - - - - - - - - - - - - - 9.8 Other - - - - - - - - - - - - - - - - X. Changes stem from the Sale of the Assets - - - - - - - - - - - - - - - - XI. Changes stem from the Reevaluation of the Assets - - - - - - - - - - - - - - - - XII. Payables like Primary Capital - - - - - - - - - - - - - - - - XIII. Payables like Secondary Capital - - - - - - - - - - - - - - - - XIV. Effect of the Changes of Company Equities on Bank Equity - - - - - - - 187 - - - - - 187 179 366 125.000 59.300 552 - 24.943 - 117.775 (2.689) 45.561 10.487 29.935 - 6.784 417.648 3.221 420.869 Term End Balance (I+II+III+...+XII+XIII+XIV) 20 ŞEKERBANK T.A.Ş. CONSOLIDATED EQUITY CHANGE TABLE THOUSAND NEW TURKISH LIRAS CHANGES ON EQUITY ITEMS Footnote Paid Paid Capital Inflation Correction Difference Capital Share Certificate Share Certificate Issuance Premiums Cancellation Profits Legal Reserves Statuary Extra ordinary Reserves Capital Reserves Other Term Net Previous Term Reserves Profit / (Loss) 12.430 5.730 - - - - 12.430 5.730 - Profit / (Loss) Reevaluation Fund Reevaluation Mobile Asset Total Value Increase Value Increase Fund Equity PREVIOUS TERM ( 31.03.2005) I. Previous Term End Balance II. Changes on Accounting Policies III. New Balance (I + II) IV. Net Term Profit or Loss 125.000 59.300 - - 125.000 59.300 - - 11.179 552 - - - - 552 - 11.179 - - - V. Profit Distribution - - - - 27 5.1. Distributed Dividend - - - - - 5.2. Amount Transferred to Reserves - - - - 5.3. Other - VI. Capital Increase - 6.1. In cash 6.2. Reevaluation Fund - - - - 27 - - - - - - - - - - - - - - - - - 6.4. Mobile Asset Value Increase Fund - - - - - - 6.6. Share Certificate Issuance - - 6.7. Currency Differences - - 6.8 Other - - VII. Debentures that can be turned into Share Certificates - - 125.000 59.300 Term End Balance (I+II+IV+V+VI+VII) - - - - - - - - - - - - - - - 552 - 11.206 - - - - - - - - 55.457 - - - - 15.550 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (48) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (48) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 12.430 5.730 15.550 55.457 - - (48) 81.773 5.730 668 - 16.651 - 55.457 - - 6.3. Reevaluation Value Increase 6.5. Paid Capital Inflation Correction Difference - 269.648 269.648 15.550 27 27 (48) (48) - 285.177 CURRENT TERM (31.03.2006) I. Previous Term End Balance 125.000 59.300 552 - 22.784 21 - - 13.724 326.182 Increases within the Term: II. From Mobile Assets Ready for Sale - - - - - 2.1.Net Current Value Profit / Loss - - - - - III. Protection from Cash Flow Risks - - - - - 3.1.Net Current Value Profit / Loss - - - - - IV. From Mobile Assets Ready for Sale - - - - - 4.1. Amounts Transferred to Net Profit - - - - - - 2.687 - - - - - - 2.687 - - - - - - 2.687 - - - - - - - - - - - - - - - - - - - - (16.656) (16.656) - - - - - - (16.656) (16.656) - - - - - - - - - - - - - - - - - - - - - - - 12.684 - - - - 35.177 - - (37.030) - - - - - - - - - - - - - - 2.687 - Transferred Amounts: V. Protection from Cash Flow Risk - - - - - 5.1.Amounts Transferred to Net Profit - - - - - 5.2.Amounts Transferred to Assets - - - - - VI. Term Net Profit - - - - - VII. Profit Distribution - - - - 1.853 7.1. Distributed Dividend - - - - - 7.2. Amount Transferred to Reserves - - - - 1.853 7.3. Other - - - - VIII. Capital Increase - - - - - 8.1. In cash - - - - - 8.2. Reevaluation Fund - - - - - 8.3. Reevaluation Value Increase - - - - - 8.4. Mobile Asset Value Increase Fund - - - - - 8.5. Paid Capital Inflation Correction Difference - - - - - 8.6. Share Certificate Issuance - - - - - 8.7. Currency Differences - - - - - 8.8 Other - - - - - IX. Debentures that can be converted to Share Certificates - - - - - 125.000 59.300 552 - 24.637 Term End Balance 22 - - 35.177 - - (37.030) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 116.950 5.730 12.684 (23.306) 668 - 2.682 - 12.684 - 324.897 ŞEKERBANK T.A.Ş. CONSOLIDATED EQUITY CHANGE TABLE THOUSAND NEW TURKISH LIRAS CHANGES ON EQUITY ITEMS Footnote Paid Paid Capital Inflation Correction Difference Capital CURRENT TERM Share Certificate Issuance Premiums Share Certificate Legal Cancellation Profits Reserves Statuary Extra ordinary Other Term Net Previous Term Reevaluation Reevaluation Reserves Capital Reserves Reserves Profit / (Loss) (2.689) - Profit / (Loss) Value Increase Fund Mobile Asset Value Increase Fund Except Minority Right Minority Total Total Equity Right Equity (01/01/2007 - 31/03/2007) I. II. III. IV. 4.1 4.2 Previous Term End Balance Interim Changes Increase/Decrease stem from Merger From Mobile Assets Ready for Sale From Risk Protection Transactions Protection from Cash Flow Risk Protection from Net Investment Risks in Abroad 125.000 59.300 552 - 24.943 - 117.775 56.048 29.935 - 6.784 417.648 3.221 420.869 - - - - - - - - - - - - - - - - - - - - - - - - - - - - (1.648) (1.648) (7) (1.655) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 6.2 Transferred Amounts From Mobile Assets Ready for Sale From Risk Protection Transactions Protection from Cash Flow Risk Protection from Net Investment Risks in Abroad VII. Term Net Profit V. VI. 6.1 VIII. Profit Distribution 8.1 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 36.456 - - - - 36.456 401 36.857 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 8.2 Distributed Dividend Amount Transferred Reserves 8.3 Other - - - - - - - - - - - - - - - - IX. Capital Increase - - - - - - - - - - - - - - 1.348 1.348 to 23 9.1 9.5 In cash Tangible Fixed Assets Reevaluation Value Increases Subsidiaries, Depended Companies and Jointly Controlled Companies Free of Charge Share Certificates Mobile Asset Value Increase Fund Paid Capital Inflation Correction Difference 9.6 Share Certificate Issuance - - - - - - - - - - - - - - - - 9.7 Currency Differences - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (58) - - (58) - (58) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - (87) - - - - - (87) (185) (272) 125.000 59.300 552 - 24.943 - 117.775 (2.776) 36.456 56.048 29.877 - 5.136 452.311 4.778 457.089 9.2 9.3 9.4 9.8 Other Changes stem from the Sale X. of the Assets Changes stem from the XI. Reevaluation of the Assets Payables like Primary XII. Capital Payables like Secondary XIII. Capital Effect of the Changes of Company Equities on Bank XIV. Equity Term End Balance (I+II+III+...+XII+XIII+XIV) XII - - - - - - - - - - - - - - 1.348 1.348 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 24 - B. EXPLANATIONS ON THE CONSOLIDATED FINANCIAL TABLES OF THE COMPANY PREPARED ACCORDING TO TURKISH ACCOUNTING STANDARDS 1. Rules related to the corrections of the financial tables according to the inflation: It was seen that with the decision of Banking Regulation and Supervision Agency dated 21.04.2005 and numbered 1623 and Announcement dated 28.04.2005 the indicators stated in Article 5 of the Accounting Standards related to the Accounting Application Regulation were eliminated and it was decided that the banks do not have to prepare the financial tables according to the provisions of this announcement. Pursuant to this decision inflation accounting was started to be applied as of 01.01.2005. 2. If the Company is required to prepare consolidated financial tables; a) Trade titles and the addresses of the financial fixed assets within consolidation coverage: ŞEKER YATIRIM DURAN VARLIKLAR A.Ş. : Fulya Mahallesi Şenol Sokak No:13/3 Şişli/ISTANBUL ŞEKER FAKTORİNG HİZMETLERİ A.Ş. : Fulya Mahallesi Şenol Sokak No:13/1 34394 Şişli/ISTANBUL ŞEKER FİNANSAL KİRALAMA A.Ş. : Nispetiye Caddesi Tanburi Ali Efendi Sokak No:1 Etiler/ISTANBUL ŞEKERBANK OFF-SHORE LİMİTED : Atatürk Cad. Muhtar Yusuf Galleria F Blok K:3 Lefkoşa/K.K.T.C. ŞEKERBANK (KIBRIS) LİMİTED : Atatürk Cad. Muhtar Yusuf Galleria, F Blok Kat:2 Lefkoşa/K.K.T.C. ÇALIK-ŞEKER KONSORSİYUM YATIRIM A.Ş. : Keresteciler Sitesi, Fatih Caddesi Selvi Sokak No: 18 Merter/Istanbul b) Financial fixed assets excluded from consolidation and the reasons for exclusion: YATIRIM FİNANSMAN DURAN VARLIKLAR A.Ş. İMKB TAKAS VE SAKLAMA BANKASI A.Ş. ISTANBUL ALTIN RAFİNERİSİ A.Ş. The financial fixed assets whose names are given above are excluded from consolidations pursuant to the provisions of Article 5 of the Announcement of Banking Regulation and Supervision Agency on “Correction of the Consolidated Financial Tables of the Banks”. In this article it is said that “...(4) provided to be proven by the documents to be taken from the official bodies, if there are significant restrictions for obtaining the financial tables and information required for correction of the consolidated financial tables by the main company, the subject financial tables of the subject company shall not be taken within the consolidation coverage. (5) If the actives total of a depended company, jointly controlled Company or subsidiary in the form of a credit or financial institution is less than one percent of the active totals of the bank and the total shares of the depended company, jointly controlled Company or subsidiary in the form of a credit or financial institution is less than bank actives total, such companies can be excluded from the consolidation coverage by taking the priority principle. (6) if the total share 23 of the depended company, jointly controlled Company or subsidiary in the form of a credit or financial institution is more than five percent of the active total of the main bank, the companies that shall not be consolidated shall be determined by the parent company provided that this rate is not exceeded.” c) Summary information on consolidation principles: Consolidated financial tables, were issued in compliance with the provisions of the Banking Regulation and Supervision Agency on “Arrangement of the Bank Consolidated Financial Tables” published on Official Gazette dated 08.11.2006 and numbered 26340. The companies in which the Mother Company Bank directly or indirectly has 50% or more of the shares or have the right to control its activities and which can have a material effect on the financial tables of the Bank are subject to full consolidation. If he Bank has the right to determine the financial and administrative policies in favor of the Bank it shall be deemed as control. If the Bank does not own the 100% of the consolidated Company, equity and the net profit of the third parties shall be shown separately under minority shares. The incorporations that contribute to the financial and operational decisions of the Partner Company Bank and have a significant efficiency are considered as subsidiaries. Although there are subsidiaries in which the Mother Company Bank owns the shares and voting rights at rates changing between 10% and 50%, there aren’t any subsidiaries that might effect the bank financial tables significantly except Çalık-Şeker Konsorsiyum A.Ş. and therefore the subject subsidiary was not included in the consolidation by equity method, and shown by its indexed costs in the financial tables. d) Share rates and amounts other than the main company: Title Shareholding of the Parent Company –If different voting rate (%) Share Percentage of Bank Risk Groups (%) Şekerbank Kıbrıs Ltd. Lefkoşa/K.K.T.C 91,91 91,91 Şeker Finansal Kiralama A.Ş. Istanbul/Turkey 43,01 43,01 Şekerbank Off-Shore Lefkoşa/K.K.T.C 74,30 75,67 Şeker Yatırım Duran Varlıklar A.Ş. Istanbul/Turkey 99,04 99,04 Istanbul/Turkey 84,99 84,99 Şeker Factoring Hizmetleri A.Ş. 3. Address(City/ Country) Depreciation Expenditures and amortization shares (THOUSAND YTL): Total Depreciation Expenditures: - Within Sale Costs - Within Overhead Management Expenditures - Within Idle Capacity Expenditures Depreciation and Amortization Shares TOTAL 24 Intermediate Term 31/03/2007 4.280 4.280 4.280 Last Annual Financial Term 10.929 10.929 10.929 4. Rediscount and Provision Expenditures (THOUSAND YTL): Special Provision for Credits and Other Receivables From III. Group Credits and Receivables From IV. Group Credits and Receivables From V. Group Credits and Receivables General Provision Expenditures Free Provision Expenditures Allocated for Possible Risks Mobile Assets Value Decrease Expenditures Mobile Assets Reflected to the Real Value Difference Profit or Loss Mobile Assets Ready for Sale Subsidiaries, Depended Companies and VKET Mobile Assets Value Decrease Expenditures Subsidiaries Depended Companies Jointly Controlled Companies Mobile Assets to be kept up to their due days Other Total 5. Intermediate Term 31/03/2007 1.582 123.395 38.188 34.093 4.095 85.207 119.607 42.490 40.596 1.894 77.117 2.206 (THOUSAND YTL) 7. 8. 9. Last Annual Financial Term 82.541 58.846 2.823 20.872 8.522 4.411 361 2.821 10.907 34 327 493 196 297 8.582 52.155 5.248 753 4.495 50.456 151.539 Finance Expenditures and Currency Differences (THOUSAND YTL): Interest given to the Used Credits Profit Capital Market Transactions Profit From Derivative Transactions Other Profit from Foreign Currency Transactions Loss (-) Capital Market Transactions Loss From Derivative Transactions Other Loss from Foreign Exchange Transactions Total (Net) 6. Intermediate Term 31/03/2007 23.134 19.571 455 3.108 6.218 13.728 Redundancy indemnification provision allocated Redundancy indemnification provision paid Insurance Premium Payables not paid on due date Personnel expenditures 25 Last Annual Financial Term 3.537 293.253 169.151 132.604 36.547 124.102 301.739 158.604 126.368 32.236 143.135 (12.023) Intermediate Term 31/03/2007 718 Last Annual Financial Term 1.477 3.006 660 NO NO 38.390 140.325 10. 11. a) Evaluation, inventory and depreciation allocation methods applied for the stocks and other balance sheet items, the changes made on those and other accounting policies and their reasons b) Monetary effects of the changes NO NO NO NO The Reasons of not making a stock count partially or as a whole if exists NO NO 12. Existing total deposit or security amounts on actives: NO 13. Total insurance amounts of actives: Mobile premium amount 246.526,37.-YTL, Real estate Risk Premium Amount: 320.524,30-YTL – Real estate DASK premium amount 21.548,18-YTL a) As of the last financial term (31/12/2006); Type of the Insured Active Insurer Company Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. The Insured Amount Amount Registered in Actives 375.370,00 305.800,00 2.820.444,00 273.240,00 93.500,00 337.000,00 112.200,00 51.500,00 633.600,00 96.360,00 79.200,00 153.120,00 528.000,00 87.120,00 24.777,00 83.750,00 198.000,00 77.627,00 104.544,00 47.336,00 8.500.000,00 200.000,00 1.450.000,00 1.500.000,00 2.500.000,00 1.000.000,00 3.695.000,00 123.750,00 65.400,21 178.000,00 154.000,00 74.800,00 302.000,00 222.200,00 763.159,83 17.600,00 2.059.200,00 256.300,00 26 318.417,87 233.117,64 2.079.366,02 207.450,63 75.759,47 254.841,33 104.904,13 43.707,12 479.764,90 Determined amount 62.688,97 112.873,47 Determined amount 79.717,28 24.777,00 69.293,93 169.285,76 77.627,00 Determined amount 47.336,00 Determined amount Determined amount Determined amount Determined amount Determined amount Determined amount Determined amount Determined amount 65.400,21 66.781,19 167.535,22 277.955,54 240.034,58 114.479,16 763.159,83 14.522,05 770.440,40 231.158,15 Insurance Insurance Commencement Completion Date Date 23.01.2006 23.01.2007 06.02.2006 06.02.2007 19.02.2006 19.02.2007 26.02.2006 26.02.2007 06.03.2006 06.03.2007 21.03.2006 21.03.2007 03.04.2006 03.04.2007 09.04.2006 09.04.2007 17.04.2006 17.04.2007 18.04.2006 18.04.2007 29.04.2006 29.04.2007 29.04.2006 29.04.2007 07.05.2006 07.05.2007 09.05.2006 09.05.2007 12.05.2006 12.05.2007 21.05.2006 21.05.2007 29.05.2006 29.05.2007 01.06.2006 01.06.2007 04.06.2006 04.06.2007 07.06.2006 07.06.2007 20.06.2006 20.06.2007 20.06.2006 20.06.2007 20.06.2006 20.06.2007 20.06.2006 20.06.2007 20.06.2006 20.06.2007 20.06.2006 20.06.2007 21.06.2006 21.06.2007 21.06.2006 21.06.2007 26.06.2006 26.06.2007 26.06.2006 26.06.2007 02.07.2006 02.07.2007 02.07.2006 02.07.2007 10.07.2006 10.07.2007 10.07.2006 10.07.2007 14.07.2006 14.07.2007 15.07.2006 15.07.2007 29.07.2006 29.07.2007 30.07.2006 30.07.2007 Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Real estate Real estate Real estate Real estate Real estate Real estate Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. 38.445,50 104.854,00 18.500,00 742.990,00 9.055,00 67.400,00 10.140,00 19.080,00 76.000,00 83.600,00 412.500,00 412.500,00 91.462,00 14.581,00 72.200,00 74.250,00 24.209,30 586.850,00 200.200,00 13.815,00 103.234,00 67.700,00 38.500,00 145.695,00 41.400,00 41.400,00 145.695,00 101.000,00 10.186,00 790.240,00 724.000,00 38.500,00 12.765,32 75.350,00 151.366,00 13.200,00 109.858,00 106.978,00 115.500,00 162.994,00 162.250,00 25.287.812,00 170.000,00 295.000,00 110.000,00 535.000,00 225.000,00 27 38.445,50 104.854,00 Determined amount 742.990,00 9.055,00 67.956,91 10.140,00 19.080,00 83.729,60 32.642,11 Determined amount 260.108,00 91.463,00 14.581,00 Determined amount Determined amount 24.209,30 157.312,03 198.086,54 13.815,00 103.235,00 Determined amount 63.129,07 145.695,00 41.400,00 41.400,00 145.695,00 110.245,66 10.186,00 Determined amount 430.098,00 39.136,31 12.765,32 58.955,25 151.367,00 14.132,29 109.859,00 106.979,00 137.360,14 162.995,00 138.493,31 25.287.812,00 170.000,00 295.000,00 110.000,00 535.000,00 225.000,00 31.07.2006 01.08.2006 07.08.2006 15.08.2006 20.08.2006 25.08.2006 29.08.2006 31.08.2006 08.09.2006 08.09.2006 11.09.2006 11.09.2006 14.09.2006 18.09.2006 21.09.2006 26.09.2006 29.09.2006 03.10.2006 04.10.2006 11.10.2006 12.10.2006 17.10.2006 17.10.2006 20.10.2006 20.10.2006 20.10.2006 20.10.2006 20.10.2006 26.10.2006 30.10.2006 30.10.2006 03.11.2006 05.11.2006 14.11.2006 14.11.2006 18.11.2006 21.11.2006 28.11.2006 16.12.2006 28.12.2006 30.12.2006 02.06.2006 19.09.2006 19.10.2006 08.11.2006 20.11.2006 20.12.2006 31.07.2007 01.08.2007 07.08.2007 15.08.2007 20.08.2007 25.08.2007 29.08.2007 31.08.2007 08.09.2007 08.09.2007 11.09.2007 11.09.2007 14.09.2007 18.09.2007 21.09.2007 26.09.2007 29.09.2007 03.10.2007 04.10.2007 11.10.2007 12.10.2007 17.10.2007 17.10.2007 20.10.2007 20.10.2007 20.10.2007 20.10.2007 20.10.2007 26.10.2007 30.10.2007 30.10.2007 03.11.2007 05.11.2007 14.11.2007 14.11.2007 18.11.2007 21.11.2007 28.11.2007 16.12.2007 28.12.2007 30.12.2007 02.06.2007 01.06.2007 01.06.2007 01.06.2007 01.06.2007 01.06.2007 b) Final situation (as of 31/03/2007); Mobile Asset prim amount 670.877,70.-YTL, Real estate Risk Prim Amount: 323.769,24 -YTL – Real estate DASK prim amount 24.745,32 -YTL Insured Active Type Insurer Company Amount taken as a base for Insurance Mobile Asset Şeker Sigorta A.Ş. 42.135,00 Mobile Asset Şeker Sigorta A.Ş. 108.750,00 Mobile Asset Şeker Sigorta A.Ş. 401.720,00 Mobile Asset Şeker Sigorta A.Ş. 5.595,00 Mobile Asset Şeker Sigorta A.Ş. 8.250,00 Mobile Asset Şeker Sigorta A.Ş. 55.110,00 Mobile Asset Şeker Sigorta A.Ş. 12.524,00 Mobile Asset Şeker Sigorta A.Ş. 3.102.500,00 Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Mobile Asset Real estate Real estate Real estate Real estate Real estate Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. Şeker Sigorta A.Ş. 15.945,00 9.350,00 105.765,00 14.882,16 34.723,00 1.925,00 52.470,00 122.996,00 72.600,00 24.200,00 29.911,00 2.652.250,00 1.578.118,00 269.806,00 145.282,00 5.000.000,00 294.000,00 295.600,00 183.900,00 1.574.650,00 58.500,00 28 Amount Insurance Insurance Registered under Commencement Completion Date Actives Date Determined 19.03.2007 19.03.2008 amount Determined 30.01.2007 30.01.2008 amount Determined 02.03.2007 02.03.2008 amount Determined 23.01.2007 23.01.2008 amount Determined 23.01.2007 23.01.2008 amount Determined 23.01.2007 23.01.2008 amount Determined 23.01.2007 23.01.2008 amount Determined 19.02.2007 19.02.2008 amount 15.945,00 06.01.2007 06.01.2008 9.350,00 31.01.2007 31.01.2008 105.765,00 31.01.2007 01.02.2008 14.882,16 22.01.2007 22.01.2008 34.723,00 22.01.2007 22.01.2008 1.925,00 27.02.2007 27.02.2008 58.506,55 01.02.2007 01.02.2008 122.996,00 22.03.2007 22.03.2008 55.107,33 20.04.2007 20.04.2008 19.470,54 03.03.2007 03.03.2008 23.627,02 12.02.2007 12.02.2008 2.652.251,00 04.04.2007 04.04.2008 1.578.119,00 20.03.2007 20.03.2008 269.807,00 15.03.2007 15.03.2008 145.283,00 30.03.2007 30.03.2008 5.000.000,00 25.12.2006 25.12.2007 294.000,00 02.01.2007 01.06.2007 295.600,00 03.01.2007 01.06.2007 183.900,00 04.01.2007 01.06.2007 1.574.640,00 27.02.2007 06.07.2007 58.500,00 27.03.2007 01.06.2007 14. Total amount of the deposits and other securities taken for receivables a) For last financial term (as of 31/12/2006); Deposit/ In case of Securities (İ/T/) Deposit Issuing its class Party DEPOSIT CASH MOBILE ASSET OPERATION PLEDGE SECURITY VEHICLE DEPOSIT SHARE CERTIFICATE TOTAL - Deposit Issuance Date - Date of Cancellati on - - - - - 198.880 2.877 - - - - - - - 558.916 - b) Final situation (as of 31/03/2007); Deposit/ In case of Securities (İ/T/) Deposit Issuing its class Party DEPOSIT CASH MOBILE ASSET OPERATION PLEDGE SECURITY VEHICLE DEPOSIT SHARE CERTIFICATE TOTAL - 15. Amount 2.802.437 84.119 17.769 (If exists) Other Issues Currenc y Type - 4.137 3.669.136 - Deposit Issuance Date - Date of Cancellati on - Amount 3.473.219 203.809 18.330 Currenc y Type - - - 259.135 4.376 758.030 - - - - 59.507 4.776.404 - - (If exists) Other Issues - Total amount of the undertakings not included in passives: a) Final financial term (as of 31/12/2006); Undertaki Undertaki Undertaking Type ng ng Commence Completio ment n Date Date Undertakings for Time Active Asset Purchase Credit Allocation Undertakings with Disposal Guarantee Payments Undertakings for Checks Credit Card Expenditure Limit Undertakings Credit Card Promotion Undertakings TOTAL Term Reason for Undertaking Undertakin g given to Amount (Thousa nd YTL) Currenc y Type - - - 48.607 - - - - - - 794 - - - - - - 500.001 - - - - - - 210.368 - - - - - - 3.765 - - - - - 763.535 - 29 b) Final Situation (as of 31/03/2007); Undertaki Undertaki Undertaking Type ng ng Commence Completio ment n Date Date Undertakings for Time Active Asset Purchase Credit Allocation Undertakings with Disposal Guarantee Payments Undertakings for Checks Credit Card Expenditure Limit Undertakings Credit Card Promotion Undertakings TOTAL Amount (Thousa nd YTL) Term Reason for Undertaking Undertakin g given to Currenc y Type - - - 32.920 - - - - - - 1.723 - - - - - - 552.705 - - - - - - 219.478 - - - - - - 3.952 - - - - - 810.778 - 16. Blocked Deposit Amounts kept at Banks: NO 17. The issues required to be explained as of the balance sheet date (31/12/2006): All the legal permissions and approvals for the transfer of 24.438.773 shares (%19,5510) of Şekerbank T.A.Ş. Personnel Additional Social Security and Support Fund Foundation, which is a main shareholder of Şekerbank T.A.Ş. and 18.034.612 shares (%14,4277) of Şekerbank T.A.Ş. Personnel Social Insurance Fund Foundation, which is also a main shareholder of Şekerbank T.A.Ş. in total 42.473.385 shares of (%33,9787) Şekerbank T.A.Ş. capital to TuranAlem Securities JSC against the payment of YTL 424.733.850 were taken and the transfer transaction was realized on 15 March 2007 at İMKB Whole Sales Market and a General Assembly Meeting was held on 15 March 2007 at 17:00 and the requirements of the Share Purchase/Sale Agreement were performed by the Purchasers and the Sellers. a) As of the final accounting period (31.12.2006); 1) Issues required to be corrected: i) Accounting mistakes and tricks revealed after the (NO) balance sheet date: ii) To make the purchase costs or sale revenues of the (NO) assets definite after the balance sheet date: iii) Revealing the losses incurred in the value of the assets (NO) after the balance sheet date: (NO) iv) Obtaining information or documents revealing that there is a continuous loss in the value of the Company’s subsidiaries (including the depended companies ): v) Obtaining new findings that might effect the net (NO) realizable value of the stocks: vi) Bankruptcy of the debtors or starting new discussions with the debtors on the payable amounts:. As of 31.12.2006 there are 173 pending protocols and the total agreed amount is YTL 71.804.021. 30 vii) Receiving the demanded insurance indemnification or have them received: Issue Amount IT materials – Electronic goods and Wooden sitting groups viii) ix) 2) 837.843,00.YTL (YES) Explanation Collected by Şeker Sigorta A.Ş. Due to Metrocity fire. (Collection) Electronic Goods Policy 823,00.YTL Collection (Notebook) Electronic Goods Policy 927,00.YTL Collection(POS) Electronic Goods Policy 1.000,00.YTL Electronic Goods Policy 840,00.YTL Collection (Notebook) Collection(POS) Changes on tax rates: Similar events: (NO) (NO) Issues required to be explained: i) Mergers and acquisitions:. Şekerbank T.A.Ş. Personnel Additional Social Security and Support Fund Foundation and Şekerbank T.A.Ş. Personnel Social Insurance Fund Foundation executed a Share Sale/Purchase Agreement with Bank TuranAlem Group for the sale of Şekerbank T.A.Ş. shares on 21.06.2006. ii) Changes in the operational structure, expansion or (NO) constriction of activities or commencing new activities: iii) Occurrence of value loss on the assets after the balance (NO) sheet date: iv) Capital Increase and other material mobile asset (NO) issuances: v) Material tangible fixed asset purchase or sales, (NO) participation to or by other companies: vi) Strike and other similar disputes: (NO) vii) Increase on Redundancy Indemnification Limits: (NO) viii) Similar Events: (NO) b) Final situation (as of 31/03/2007); 1) Issues Required to be Corrected: i) Accounting mistakes and tricks revealed after the balance sheet date: ii) Making the purchase costs or sale revenues of the assets definite after the balance sheet date: iii) Revealing the losses incurred in the value of the assets after the balance sheet date: iv) Obtaining information or documents revealing that there is a continuous loss in the value of the Company’s subsidiaries (including the depended companies ): v) Obtaining new findings that might effect the net realizable value of the stocks: 31 (NO) (NO) (NO) (NO) (NO) vi) 2) 18. Bankruptcy of the debtors or starting new discussions (YES) with the debtors on the payable amounts:. As of 31.03.2007 there are 181 pending protocols and the total agreed amount is YTL 45.263.730.-YTL. vii) Receiving the demanded insurance indemnification or (NO) have them received: viii) Changes on tax rates: (NO) ix) Similar events: (NO) Issues Required to be Explained: i) Mergers and Acquisitions: (NO) It was decided to transfer %19,55 of the Company shares that belong to Şekerbank T.A.Ş. Personnel Additional Social Security and Support Fund Foundation and %14,43 of the Company shares that belong to Şekerbank T.A.Ş. Personnel Social Insurance Fund Foundation in total %33,98 of the capital of Şekerbank T.A.Ş. to Bank TuranAlem Group against a payment of 10 YTL for each share with a nominal value of 10 YTL and the transfer of %33,98 of the Company capital was realized on 15.03.2007. ii) Changes in the operational structure, expansion or (NO) constriction of activities or commencing new activities: iii) Occurrence of value loss on the assets after the balance (NO) sheet date: iv) Capital Increase and other material mobile asset (NO) issuances: v) Material tangible fixed asset purchase or sales, (NO) participation to or by other companies: vi) Strike and other similar disputes: (NO) vii) Increase on Redundancy Indemnification Limits: (YES) As of 1 January 2007 the redundancy indemnification ceiling was increased to 1.960,69 thousand YTL. viii) Similar Events: (NO) Information on the conditional losses and any kind of conditions earnings of the Company: (YES) a) At the end of last financial period (as of 31/12/2006); i) Pending court cases in which the Company is the (YES-98 Cases) “claimant” party: According to the information given by the law department of the Company, as of the balance sheet date, there are 98 pending court cases opened by the Bank. The total amount of these cases is 2.922 Thousand YTL. ii) Pending court cased in which the Company is the (YES-201 Cases) “plaintiff” party: According to the information given by the law department of the Company, as of the balance sheet date, there are 201 pending court cases opened against the Bank. The total amount of these cases is12.807 Thousand YTL. iii) Bonds endorsed by the Company to the sellers: (NO) iv) Indemnification demands in favor of the Company: (YES-11 Cases) 162.213,00 YTL Cases are continuing. Stem from Employment Cases : 7.000,00 USD 2.684,00 YTL Traffic Accident Indemnification 23.000,00 YTL Due to Credits made Available: 498.216,13 YTL Court of First Instance: v) Indemnification Demands against the Company: (YES-29 Cases) 32 vi) vii) viii) 348.074,48 YTL Cases are continuing. Stem from Employment Cases: 364.121,36 YTL Court of First Instance: 46.000,00 YTL Court of First Trade Instance: 257.139,00 YTL Due to Deposit Conflicts: 1.018.000,00 YTL Due to Credits Made Available: Securities and Guarantees given: (YES) The total amount of the security letters issued by our Bank for the courts is 14.458 Thousand YTL. Intentions and preparations for the nationalization of the (NO) assets: Similar events: (NO) b) Final situation (as of 31/03/2007); i) ii) iii) iv) v) vi) vii) viii) 19. Pending court cases in which the Company is the (YES-62 cases) “claimant” party: According to the information given by the law department of the Company, as of the balance sheet date, there are 62 pending court cases opened by the Bank. The total amount of these cases is 1.461 Thousand YTL. Pending court cased in which the Company is the (YES-231 cases) “plaintiff” party: According to the information given by the law department of the Company, as of the balance sheet date, there are 231 pending court cases opened against the Bank. The total amount of these cases is14.116 Thousand YTL Bonds endorsed by the Company to the sellers: (NO) Indemnification demands in favor of the Company: (YES-12 Cases) 172.213,00 YTL Cases are continuing. Stem from Employment Cases : 7.000,00 USD 2.684,00 YTL Traffic Accident 23.000,00 YTL Indemnification 498.216,13 YTL Due to Credits made Available: Court of First Instance: Indemnification Demands against the Company: (YES-37 Cases) Cases are continuing. 352.487,70 YTL Stem from Employment Cases: 364.121,36 YTL Court of First Instance: 56.000,00 YTL Court of First Trade Instance: 257.139,00 YTL Due to Deposit Conflicts: 1.018.000,00 YTL Due to Credits Made Available: Securities and Guarantees given: (YES) The total amount of the security letters issued by our Bank for the courts is YTL 15.088 thousand. Intentions and preparations for the nationalization of (NO) the assets: Similar events: (NO) Information on the changes about accounting estimations which have material influence on the gross profit of the Company and their monetary effects : 33 (NO) 20. The list of the subsidiaries and depended companies, which has and indirect capital and management relationship with the Company and the names of the companies within the list of depended companies and their shareholding rates and amounts, term profit or loss stated in the last financial statements of such companies, their net term profit or loss, net operational profit and the terms in which these financial tables were prepared in, if they were prepared in compliance with the standards defined by SPK, if they were subject to independent audit and the issuance of the independent audit report (positive, negative or conditional), company headquarters, capital undertakings for the subsidiaries, reserves, dividend received/ to be received for the shares hold: a) In the last financial period (as of 31/12/2006); Business Company Trade Title Scope Address Capital Paid Capital Undertaken Main Şeker Yatırım Duran Varlıklar A.Ş. Capital Market Transactions Şeker Faktoring Hizm. A.Ş. Factoring Services Şeker Finansal Kiralama A.Ş. Financial Leasing Services Şeker Bilişim Sanayi A.Ş. Information Technology Şekerbank Off Shore Limited Banking Şekerbank (Kıbrıs) Ltd. Banking TARPAM A.Ş. Service Sector Çalık Şeker Konsorsiyum A.Ş. Finance Trade Title Acquisition Cost Fulya Mah. Şenol Sok. No: 13/3 Gayrettepe/ İst. Fulya Mah. Şenol Sok. No: 13/1 Gayrettepe/ İst. Nispetiye Cad. Tanburi Ali Efendi Sk. No: 1 Etiler/Istanbul Bilkent Mh. 2. Cad. A-Blok Kat:4 Bilkent/Ankara Atatürk Cad. Muhtar Yusuf Galleria F Blok K:3 Lefkoşa/ K.K.T.C. Atatürk Cad. Muhtar Yusuf Galleria F Blok K:2 Lefkoşa/ K.K.T.C. Büyük Sanayi Çarşısı 1. Cadde No: 22 İskitler/ ANKARA Keresteciler Sitesi, Fatih Caddesi Selvi Sokak No: 18 Merter Istanbul (YTL) (%) Currenc y Type 15.000.000 15.000.000 14.855.995 99,04 - - 7.600.000 7.600.000 6.459.994 84,99 - - - 25.000.000 10.405.948 41,62 - - 750.000 750.000 719.996 95,99 - 506.250 5.000.000 $ 5.000.000 $ 3.715.000 $ 74,30 - - 14.500.000 14.500.000 14.500.000 89,80 - - 705.000 705.000 399.704 56,70 - - 35.500.000 35.500.000 12.070.000 34,00 - - Current Year (Thousand YTL) Last Year (Thousand YTL) YDDAF Şeker Yatırım Duran Varlıklar A.Ş. Şeker Faktoring Hizm. A.Ş. Şeker Finansal Kiralama A.Ş. Şeker Bilişim Sanayi A.Ş. Şekerbank Off Shore Limited Şekerbank (Kıbrıs) Ltd. Paid Capital Undertaki ngs for Subsidiarie s (YTL) Reserves Net Term Profit/Loss Net Operationa l Profit Dividend Received Independent Audit Performed? Opinion Dividend to be received 17.238.595 - 1.191 929 1.206 1.080 - YES Positive 4.947.079 13.077.327 922.209 5.362.984 16.103.102 - 319 1.433 203 41 1.408 (5.928) 173 455 (4.310) 1.809 (5.928) 173 455 (4.416) 2.121 - - YES YES NO YES YES Positive Conditional 34 Positive Positive TARPAM A.Ş. Çalık Şeker Konsorsiyum A.Ş. 1.174.003 - 2.388 (430) (430) - - NO 12.068.338 - - (1.167) (1.167) - - YES Positive Positive b) Last Situation (as of 31/03/2007); Trade Title Business Scope Company Address Capital Main Şeker Yatırım Duran Varlıklar A.Ş. Capital Piyasası İşlemleri Şeker Faktoring Hizm. A.Ş. Faktoring Hizmetleri Şeker Finansal Kiralama A.Ş. Finansal Kiralama Hizmetleri Şeker Bilişim Sanayi A.Ş. Bilişim Şekerbank Off Shore Limited Banking Şekerbank (Kıbrıs) Ltd. Banking TARPAM A.Ş. Service Sector Çalık Şeker Konsorsiyum A.Ş. Finance Trade Title Acquisition Cost Fulya Mah. Şenol Sok. No: 13/3 Gayrettepe/ İst. Fulya Mah. Şenol Sok. No: 13/1 Gayrettepe/ İst. Nispetiye Cad. Tanburi Ali Efendi Sk. No: 1 Etiler/Istanbul Bilkent Mh. 2. Cad. A-Blok Kat:4 Bilkent/Ankara Atatürk Cad. Muhtar Yusuf Galleria F Blok K:3 Lefkoşa/ K.K.T.C. Atatürk Cad. Muhtar Yusuf Galleria F Blok K:2 Lefkoşa/ K.K.T.C. Büyük Sanayi Çarşısı 1. Cadde No: 22 İskitler/ ANKARA Keresteciler Sitesi, Fatih Caddesi Selvi Sokak No: 18 Merter Istanbul 17.238.595 4.947.079 11.198.453 922.209 5.265.583 16.103.102 Paid (YTL) (%) Currenc y Type Capital Undertaki ngs for Subsidiari es (YTL) 15.000.000 15.000.000 14.855.995 99,04 - - 7.600.000 7.600.000 6.459.994 84,99 - - - 25.000.000 10.751.955 43,01 - - 750.000 750.000 719.996 95,99 - 506.250 5.000.000 $ 5.000.000 $ 3.715.000 $ 74,30 - - 14.500.000 14.500.000 14.500.000 91,91 - - 705.000 705.000 399.704 56,70 - - 35.500.000 35.500.000 12.070.000 34,00 - - Net Term Profit/Loss Reserves Independent Audit Performed? Current Year (Thousand YTL) Last Year (Thousand YTL) YDDAF Şeker Yatırım Duran Varlıklar A.Ş. Şeker Faktoring Hizm. A.Ş. Şeker Finansal Kiralama A.Ş. Şeker Bilişim Sanayi A.Ş. Şekerbank Off Shore Limited Şekerbank (Kıbrıs) Ltd. Paid Capital Undertaken Net Operatio nal Profit Dividend to be received Dividend Received - 1.191 824 998 - - - 318 716 872 - - - 1.433 321 321 - - - - 277 277 - - 294 18 18 - - - 40 3.328 3.330 - - 35 YES YES YES NO YES YES Opinion TARPAM A.Ş. Çalık Şeker Konsorsiyum A.Ş. 1.174.003 12.068.338 - 2.388 (214) (214) - - - - (7) (7) - - NO YES The audit of the subsidiaries was not completed as of 31.03.2007. 21. Information on the stock exchange values of the mobile assets and financial fixes assets shown on the basis of their costs in the balance sheet and the cost values of the mobile assets and financial fixed assets shown on the basis of their stock exchange value in the balance sheet (on the basis of the last financial tables) Cost Value 227.041 789.897 110.759 5.328 Cost Value 257.876 873.251 108.765 5.674 31.12.2006 Mobile Assets for Sale or Purchase Purposes Mobile Assets Ready for Sale Mobile Assets to be Kept by their Due Dates Subsidiaries 31.03.2007 Mobile Assets for Sale or Purchase Purposes Mobile Assets Ready for Sale Mobile Assets to be Kept by their Due Dates Subsidiaries 22. Current Value 231.788 821.572 117.521 13.077 Current Value 257.993 888.544 111.545 11.198 Information on if there is a mutual partnership with subsidiaries and/or depended companies, it exists their amounts and rates, and the changes as of the final situation (as of the date of the last financial statement) SHAREHOLDING RATES ŞEKER FACTORING ŞEKERBANK T.A.Ş. ŞEKER FACTORING ŞEKER YATIRIM ŞEKER OFFSHORE ŞEKER LEASING ŞEKER KIBRIS MINORITY TOTAL 84,99% - - - - - ŞEKER YATIRIM 99,04% - - - - - 0,96% 100.00% ŞEKER OFFSHORE 74,30% - - - - - 25,70% 100.00% ŞEKER LEASING 43,01% - 4,25% - - - 52,74% 100.00% ŞEKER KIBRIS 91,91% - - - - - 8,09% 100.00% SHAREHOLDING RATES ŞEKER FACTORING ŞEKER YATIRIM ŞEKER OFFSHORE ŞEKER LEASING ŞEKER KIBRIS ŞEKERBANK T.A.Ş. ŞEKER FACTORING ŞEKER YATIRIM ŞEKER OFFSHORE ŞEKER LEASING ŞEKER KIBRIS 15,01% 100.00% MINORITY TOTAL 7.415 - - - - - - 7.415 17.721 - - - - - - 17.721 4.645 - - - - - - 4.645 11.198 - 1.768 - - - - 12.966 263 - - - - - - 263 36 23. The Amount of the free of charge share certificates due to the capital increase made by the equities of the subsidiaries and depended companies: a) In the Last Financial Term (as of 31.12.2006) ; Subsidiaries/ Depended Companies Şeker Faktoring Hizmetleri A.Ş. Şeker Yatırım Duran Varlıklar A.Ş. Çalık Şeker Konsorsiyum Yatırım A.Ş. Istanbul Altın Rafinerisi A.Ş. TOTAL Amount (Thousand YTL) 2,210 2,971 248 0,250 5.429 b) Last situation as of the last date of financial term (between 31.12.2006 and 31.03.2007); Subsidiaries/ Depended Companies Amount (Thousand YTL) Yatırım Finansman Duran Varlıklar A.Ş. 3 TOTAL 3 24. Profit Distribution Policies of Each Subsidiary: Profit distributions of the subsidiaries is made in compliance with the decisions taken by the General Assemblies 25. Information on the future material investments of the subsidiaries: In Şeker Bilişim; It is planned to make license and human resources investments according to the projects to be realized. Tarpam A.Ş.; In 2006, The Company applied the tenders opened by subsidiaries of T. Elektrik Dağıtım A.Ş (Başkent, Boğaziçi, Uludağ, Gediz, Trakya Elektrik Dağıtım A.Ş.) and started to the “electricity invoice collections”. These tenders shall continue in 2007. The term of the tenders opened pursuant to the provisions of K.İ.K. General Announcement is one year and they shall be renewed every year. At the moment invoice collection is made in Istanbul, Ankara and Bursa regions. Offices are established in İzmir and Tekirdağ and it is planned to start the collections in these regions in June 2007. In Şeker Faktoring; It is planned to transfer the Company Headquarters to Gümüşsuyu in 2007 and transform the 4 existing correspondence offices to the branches and open two additional branches. It was planned to make online connections between the branches and the headquarters and the feasibility works were started. 26. Payment Plans of the Company fort he mid and long term bank loans: TOKİ LOANS GSM LOANS GSM LOANS GSM LOANS TOTAL 27. Due Date 2010 2008 2009 2010 Amount Thousand YTL 48.099 3.191 3.480 783 55.553 The amounts of the payables and receivables in foreign currency and not covered by a foreign exchange guarantee and the monetary amounts within the actives and the YTL exchange currency rates: a) In the Last Financial Term (as of 31.12.2006) ; 37 Information on the currency risks of Mother Company: Assets Current Assets (Cash, Effective Stock, Money on Way, Purchased Checks) and Turkish Republic Central Bank) USD AUD CAD CHF DKK EUR GBP NOK SEK Receivables from Banks and Other Financial Institutions USD AUD CAD CHF DKK EUR GBP JPY KWD NOK SAR SEK Financial Assets Reflected to the Real Value Difference Profit or Loss USD EUR Receivables from Monetary Markets Financial Assets Ready to Sale USD EUR Credits USD EUR GBP Subsidiaries, Depended Companies and Jointly Controlled Companies USD Investments to be Kept by Their Due Dates USD EUR Tangible Fixed Assets Intangible Fixed Assets Other Assets USD EUR AUD CHF DKK GBP NOK 38 (Thousand YTL) 149.050 59.700 1 2 419 56 88.109 675 23 65 282.894 53.302 42 342 2.827 2.546 212.426 10.743 75 1 252 63 275 109.419 496 108.923 289.025 104.314 184.711 294.670 223.235 69.941 1.494 4.989 4.989 38.221 7.395 30.826 33.563 31.249 2.067 4 12 1 224 6 Assets Total Liabilities Bank Deposits EUR USD GBP Currency Deposit Accounts USD AUD CAD CHF DKK EUR GBP JPY KWD NOK SAR SEK Payables to Monetary Markets Funds Made Available to Other Financial Institutions USD EUR GBP Issued Mobile Assets Several Payables USD EUR GBP CHF Derivative Financial Payables to Save from Risks Other Liabilities USD EUR GBP Liabilities Total Net Balance Position Net Arrangement Calculation Position Receivables from Derivative Financial Tools USD EUR Payables to Derivative Financial Tools USD EUR GBP 1.201.831 9.509 1.988 7.493 28 1.201.333 634.644 5 2 2.934 2.428 549.623 11.104 308 50 1 234 29.102 19.659 8.440 1.003 657 521 130 5 1 (2.255) (2.695) 435 5 1.238.346 (36.515) 45.702 101.155 43.678 57.477 55.453 49.718 5.184 551 533.167 366.323 156.303 63 13 6.606 3.709 In kind Credits USD EUR GBP CAD CHF JPY 39 NOK 150 CURRENCY PURCHASE RATE 1,40550 1,10950 0,24829 0,20410 1,15110 1,18070 1,21160 4,84090 0,22411 2,75720 0,37533 1,85130 CURRENCY TYPE CODE USD AUD DKK SEK CHF JPY CAD KWD NOK GBP SAR EUR b) Final situation (as of 31/03/2007); Information on the currency risks of mother company bank: Assets Current Assets (Cash, Effective Stock, Money on Way, Purchased Checks) and Turkish Republic Central Bank) USD EUR AUD CAD CHF DKK GBP NOK SEK Receivables from Banks and Other Financial Institutions USD EUR JPY AUD CAD CHF DKK GBP NOK SEK SAR Financial Assets Reflected to the Real Value Difference Profit or Loss USD EUR Financial Assets Ready to Sale USD EUR Credits USD EUR GBP 40 (Thousand YTL) 161.830 63.789 97.122 1 2 288 17 588 10 13 92.145 26.269 60.222 183 94 516 156 137 4.183 218 104 63 108.750 108.290 460 280.472 179.575 100.897 442.949 325.286 116.569 1.094 Subsidiaries, Depended Companies and Jointly Controlled Companies USD Investments to be Kept by Their Due Dates USD EUR Other Assets USD EUR GBP CHF NOK SEK DKK Assets Total Liabilities Bank Deposits USD EUR GBP Currency Deposit Accounts USD EUR JPY DKK CAD CHF GBP NOK SEK Funds Made Available to Other Financial Institutions USD EUR GBP Several Payables USD EUR GBP Other Liabilities USD EUR GBP Liabilities Total Net Balance Position Net Arrangement Calculation Position Receivables from Derivative Financial Tools USD EUR CHF DKK GBP Payables to Derivative Financial Tools USD 41 4.644 4.644 38.423 7.093 31.330 45.333 31.022 14.108 167 25 8 2 1 1.174.546 4.969 1.347 2.798 824 1.327.773 722.731 589.370 492 2.396 2 2.010 10.694 61 17 59.842 28.133 30.713 996 1.355 608 744 3 1.003 869 119 15 1.394.942 (220.396) 228.338 452.450 229.948 211.933 1.470 2.344 6.755 224.112 215.432 EUR 8.680 534.384 402.120 35 122.102 87 13 6.604 3.358 12 53 CURRENCY PURCHASE RATE 1,38000 1,11360 0,24669 0,19617 1,13040 1,16810 1,19600 4,74850 0,22631 2,70200 0,36852 1,83820 In kind Credits USD AUD EUR GBP CAD CHF JPY NOK SEK CURRENCY TYPE CODE USD AUD DKK SEK CHF JPY CAD KWD NOK GBP SAR EUR 28. Mobile Assets Issued Other than the Shares of the Company and Not Amortized yet (Final situation (as of 31/03/2007)): (NO) 29. Company mobile assets that amortized within the last year and representing the payables (within one year before the application date (from 31/03/2006 to 31/03/2007)): (NO) 30. Names and amounts of the items included within the “other” item in the financial tables and forming 20% or more of the relevant item or 5% or more of the balance sheet actives total (In the last financial table (as of 31/03/2007 )): As of 31 March 2007, 14.399 Thousand YTL of Other Actives item is the Receivables from Time Sale of Actives, 28.374 Thousand YTL of the same amount is Securities Given and 9.365 Thousand YTL is Advances Given, 8.130 Thousand YTL is First Establishment Expenditures, 1.189 Thousand YTL is Receivables from Banking Services and 31.473 Thousand YTL is Other Receivables. 23.678 Thousand YTL of the Other Receivables at an amount of 31.473 Thousand YTL formed as a result of the decision taken by the 4th Court of Council of State on 12 February 2007 in favor of the Bank in the pending tax case about the deduction on the 2004 corporate revenue of the Bank due to the previous term loss of the Bank pursuant to the Article 14/7 of KVK. 31. Personnel receivable and personnel payable totals that are more than 1% of the balance sheet total and included in the “Other Receivables” and “Other Short Term Receivables” item in the financial items (According to the last financial table (as of 31/03/2007)): (NO) 32. Doubtful receivable amounts allocated due to the receivables from the Shareholders, Subsidiaries and Depended Companies and the payables related to these (In the last financial table (as of 31/03/2007)): NO 42 33. Doubtful receivable amounts allocated for the receivables that are due or not due (separate totals) (In the last financial table (as of 31/03/2007)): As of 31.03.2007, the provision allocated against the receivables is 102.125 Thousand YTL. 34. In case the gross the separate totals of sales of the materials such as products, scraps and wastes and the service sales are over 20% within the domestic sales or exports item, the amounts related to these materials and services (In the last financial table (as of 31/03/2007)): NO 35. Explanatory not on the incomes and expenditures for the previous term and the amounts and sources of the previous term (In the last financial table (as of 31/03/2007)): 38.913 Thousand YTL of 40.421 Thousand YTL shown under other operation income item in the profit-loss table is as a result of the cancellation of the expenditures of the previous years and 1.508 Thousand YTL is formed by other incomes other than interest. The cancellation of the expenditures of the previous years contains items such as credit special provision cancellations, in kind provision returns, subsidiary and dependent partnership provision returns, fixed asset value decrease provision returns. 23.678 Thousand YTL of cancellation of the previous years’ expenditures at an amount of 38.913 Thousand YTL formed as a result of the transfer of the previous term of the Bank losses to the correction account for the previous years due to the decision taken by the 4th Court of Council of State on 12 February 2007 in favor of the bank on the pending tax about the deduction of the incorporate revenue of the Bank in 2004 in compliance with the provisions of Article 14/7 of KVK. Intermediate Term 31/03/2007 38.390 718 5.344 3.608 367 305 21.283 4.440 330 2.398 14.115 54 7.485 77.554 Personnel Expenditures Redundancy Fund Provision Short Term Employee Right Liabilities Provision Expenditures Bank Social Aid Fund Asset Deficiency Provision Tangible Fixed Asset Value Decrease Expenditures Tangible Fixed Asset Depreciation Expenditures Intangible Fixed Asset Value Decrease Expenditures Intangible Fixed Asset Depreciation Expenditures Value Decrease Expenditures for the Assets to be Sold Depreciation Expenditures for the Assets to be Sold Value Decrease Expenditures for the Assets kept to be Sold Other Operation Expenditures Operation Leasing Expenditures Maintenance and Repair Expenditures Advertisement and Announcement Expenditures Other Expenditures Loss stem from Sale of Actives Other Total 36. Other issues having material effects on the financial tables or required to be explained to make the financial tables clear, interpretable and understandable (In the last financial table (as of 31/12/2006)): All the legal permissions and approvals for the transfer of 24.438.773 shares (%19,5510) of Şekerbank T.A.Ş. Personnel Additional Social Security and Support Fund Foundation, which is a 43 main shareholder of Şekerbank T.A.Ş. and 18.034.612 shares (%14,4277) of Şekerbank T.A.Ş. Personnel Social Insurance Fund Foundation, which is also a main shareholder of Şekerbank T.A.Ş. in total 42.473.385 shares of (%33,9787) Şekerbank T.A.Ş. capital to TuranAlem Securities JSC against the payment of YTL 424.733.850 were taken and the transfer transaction was realized on 15 March 2007 at İMKB Whole Sales Market and a General Assembly Meeting was held on 15 March 2007 at 17:00 and the requirements of the Share Purchase/Sale Agreement were performed by the Purchasers and the Sellers. 37. The information required to be given if the financial tables, assets of the Company and operation results are not reflect the situation correctly (In the last financial table (31/03/2007)):NO 38. Information on independent audit: a) The financial tables prepared on 31/12/2005 in compliance with the Turkish Accounting Standards were audited by Denetim Serbest Mali Müşavirlik A.Ş. and a report giving a positive opinion was given. The financial tables prepared on 31/12/2006 in compliance with the Turkish Accounting Standards were audited by DRT Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş. and a report giving a positive opinion was issued. The intermediate financial tables prepared on 31/03/2007 in compliance with the Turkish Accounting Standards were audited by DRT Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş. and a report giving a positive opinion was issued. b) 39. If exists the summary reports containing “conditional”, “no opinion” or “negative” opinions or explanatory paragraphs (the report not effecting the opinion but containing the issues required to be submitted to the related persons): NO. Material changes that might effect the financial or trade positions and occurred after the announcement of the last annual or intermediate financial tables (they should include the developments about the production, sale, stocks, orders, costs and sale prices after the announcement of the last financial tables): All the legal permissions and approvals for the transfer of 24.438.773 shares (%19,5510) of Şekerbank T.A.Ş. Personnel Additional Social Security and Support Fund Foundation, which is a main shareholder of Şekerbank T.A.Ş. and 18.034.612 shares (%14,4277) of Şekerbank T.A.Ş. Personnel Social Insurance Fund Foundation, which is also a main shareholder of Şekerbank T.A.Ş. in total 42.473.385 shares of (%33,9787) Şekerbank T.A.Ş. capital to TuranAlem Securities JSC against the payment of YTL 424.733.850 were taken and the transfer transaction was realized on 15 March 2007 at İMKB Whole Sales Market and a General Assembly Meeting was held on 15 March 2007 at 17:00 and the requirements of the Share Purchase/Sale Agreement were performed by the Purchasers and the Sellers. IV. INFORMATION ABOUT THE MANAGEMENT 1. General Organization Structure of the Company: Given in ANNEX-3 herein. 2. Company Board of Directors Members; 44 Name Surname Capital Share/Juridical Person Represented Position Occupati on Address Positions obtained in the last 5 years in the Company (YTL) (%) Erdal ARSLAN President Banking personnel Board of Directors Member - - Hasan Basri GÖKTAN MemberGeneral Manager Banking personnel Board of Directors President General Manager - - Erdal BATMAZ Member Banking personnel Board of Directors Member - - Emin ERDEM Member Banking personnel Board of Directors Member - - Halil Can YEŞİLADA Member Banking personnel Board of Directors Member Board of Auditors Member - - Vice President Banking personnel - - - Kairat BEKTANOV Member Banking personnel - - - Murat YULDASHEV Member Banking personnel - - - Saduakas MAMESHTEGI Member Banking personnel - - - Tatiana Alekseevna FILIPPOVA Member Banking personnel - - - Khosrow Kashani ZAMANI Member Banking personnel Büyükdere Cad.No:171 Metrocity İş Merk. A-Blok Kat: 13 Levent-Istanbul Büyükdere Cad.No:171 Metrocity İş Merk. A-Blok Kat: 13 Levent-Istanbul Büyükdere Cad.No:171 Metrocity İş Merk. A-Blok Kat: 13 Levent-Istanbul Büyükdere Cad.No:171 Metrocity İş Merk. A-Blok Kat: 13 Levent-Istanbul Büyükdere Cad.No:171 Metrocity İş Merk. A-Blok Kat: 13 Levent-Istanbul 97,Dzholdasbekov Cad., Samal-2, Almaata, Kazakhstan Republic 97,Dzholdasbekov Cad., Samal-2, Almaata, Kazakhstan Republic 97,Dzholdasbekov Cad., Samal-2, Almaata, Kazakhstan Republic 97,Dzholdasbekov Cad., Samal-2, Almaata, Kazakhstan Republic Büyükdere Cad.No:171 Metrocity İş Merk. A-Blok Kat: 13 Levent-Istanbul 1401-N Oak Str.Arlington Virginia 22209 - 502.392 0,40 Yerkin TATISHEV 45 3. The Duties of the Board of Directors members out of the Company; The Duties obtained out of the Company As of the Final Situation Name Surname Erdal ARSLAN Hasan Basri GÖKTAN Erdal BATMAZ Emin ERDEM Halil Can YEŞİLADA Yerkin TATISHEV Kairat BEKTANOV Murat YULDASHEV Saduakas MAMESHTEGI Tatiana Alekseevna FILIPPOVA Khosrow Kashani ZAMANI 4. Board of Auditors Members of the Company; Name Surname M. Cahit BAŞER Mehmet ÜNAL Kuat SEKSENALINOV 5. NO Şeker Yatırım Duran Varlıklar A.Ş. – Board of Directors President Şeker Faktoring Hizmetleri A.Ş. – Board of Directors President Şeker Finansal Kiralama A.Ş. – Board of Directors President Şekerbank Off Shore Limited - Board of Directors President NO ENTAŞ Enerdem Ticaret Turizm ve Yapı Taah.Paz A.Ş. – Board of Directors President ENDA Enerdem Mali Danışmanlık Limited Şirketi – Company Manager Çalık Şeker Konsorsiyum Yatırım A.Ş.-Board of Directors Deputy President Bank TuranAlem JSC-Board of Directors Member TuranAlem Securities JSC – Manager Bank TuranAlem JSC-Board of Directors Deputy President Temirbank – Board of Directors President Bank TuranAlem JSC-Board of Directors Deputy President TuranAlem Securities JSC – Board of Directors Deputy President Bank TuranAlem JSC-Board of Directors Risk Consultant Great Circle Fund.L.P. – Consultation Board Member Darby Overseas Investments Ltd.-Superior Consultant BTAO – Board of Directors Member Position Board of Auditors Member Board of Auditors Member Board of Auditors Member Occupatio n Banking personnel Academician Banking personnel Address Birlik Mah. 3. Cadde No:9 Birlik-Ankara Ankara University Faculty of Law Cebeci-Ankara 97,Dzholdasbekov Cad., Samal-2, Almaata, Kazakhstan Republic Positions obtained in the last 5 years in the Company Capital Share/Juridical Person Represented (YTL) (%) Board of Directors Member - - - - - - - - Audit Commission Members of the Company; Name Surname Position Occupatio n Halil Can YEŞİLADA Board of Directors Member Banking personnel Murat YULDASHEV Board of Directors Member Banking personnel Address Büyükdere Cad.No:171 Metrocity İş Merk. A-Blok Kat: 13 Levent-Istanbul 97,Dzholdasbekov Cad., Samal-2, Almaata, Kazakhstan Republic 46 Positions obtained in the last 5 years in the Company Capital Share/Juridical Person Represented (YTL) (%) Board of Auditors Member - - - - - 6. Management Personnel; Name Surname Dr. Hasan Basri GÖKTAN Position Occupa tion Address Address Positions obtained in the last 5 years in the Company Board of Directors Member General Manager Banking personnel Business Executive Büyükdere Cad.No:171 Metrocity İş Merk. A-Blok 1.LeventIstanbul -Board of Directors President -General Manager - Şeker Yatırım Mobile Asset Değ. A.Ş. Board of Directors President - Şeker Faktoring Hiz. A.Ş. Board of Directors President - Şeker Finansal Kiralama A.Ş. Board of Directors President - Şekerbank Off Shore Limited Board of Directors President - Şeker Yatırım Mobile Asset Değ. A.Ş. Board of Auditors Member Abdurrahman ÖZCİĞER Executive Vice President Banking Büyükdere personnel Cad.No:171 - Executive Vice President A.Yücel AKBULUT Executive Vice President Banking personnel - Executive Vice President Çetin AYDIN Executive Vice President Banking personnel Meriç ULUŞAHİN Executive Vice President Banking personnel Mesut ÖZDİNÇ Executive Vice President Banking personnel Orhan KARAKAŞ Executive Vice President Banking personnel Ömer Faruk TÜRKMEN Executive Vice President Banking personnel Ramazan KARADEMİR Executive Vice President Banking personnel Metrocity İş Merk. A-Blok 1.LeventIstanbul Büyükdere Cad.No:171 Metrocity İş Merk. A-Blok 1.LeventIstanbul Büyükdere Cad.No:171 Metrocity İş Merk. A-Blok 1.LeventIstanbul Büyükdere Cad.No:171 Metrocity İş Merk. A-Blok 1.LeventIstanbul Büyükdere Cad.No:171 Metrocity İş Merk. A-Blok 1.LeventIstanbul Büyükdere Cad.No:171 Metrocity İş Merk. A-Blok 1.LeventIstanbul Büyükdere Cad.No:171 Metrocity İş Merk. A-Blok 1.LeventIstanbul Büyükdere Cad.No:171 Metrocity İş Merk. A-Blok 1.LeventIstanbul 47 - Şeker Finansal Kiralama . Capital Share (YTL) (%) - - - - - A.Ş. Board of Directors Member - Executive Vice President -Unit Manager - Şeker Faktoring Hiz. A.Ş. Board of Directors Member - - -Board of Directors Member - Executive Vice President - Şeker Yatırım Mobile - - Asset Değ. A.Ş. Board of Directors Deputy President - Executive Vice President -Unit Manager - Şeker Faktoring Hiz. A.Ş. Board of Directors Member - - - Executive Vice President -Unit Manager - Şeker Finansal Kiralama . - - -Board of Directors Member - Executive Vice President - Şeker Finansal Kiralama . - - - Executive Vice President -President of Auditory Board - Şeker Yatırım Mobile Asset Değ. A.Ş. Board of Directors Member - - A.Ş. Board of Directors Member A.Ş. Board of Directors Deputy President - Şekerbank Kıbrıs Ltd. Board of Directors President Salih Zeki ÖNDER Tanol TÜRKOĞLU Hüseyin SERDAR Executive Vice President Banking Büyükdere personnel Cad.No:171 Executive Vice President Banking personnel General Secretary Banking personnel Executive Murat Banking ISHMUHAMEDOV Vice President personnel - Executive Vice President Metrocity İş Merk. A-Blok 1.LeventIstanbul Büyükdere - Executive Vice Cad.No:171 President Metrocity İş Merk. A-Blok 1.LeventIstanbul Büyükdere -General Secretary Cad.No:171 Metrocity İş Merk. A-Blok 1.LeventIstanbul Büyükdere Cad.No:171 Metrocity İş Merk. A-Blok 1.LeventIstanbul - Şeker Faktoring Hiz. A.Ş. Board of Directors Member - - - Şeker Faktoring Hiz. A.Ş. Board of Auditors Member - - - Şeker Finansal Kiralama . - - - - A.Ş. Board of Directors Member - 7. Total amount of the remuneration and other benefits given to the Board of Directors presidents and members, general manager, general coordinator, delegate members and vice general managers and other such superior management personnel including the benefits supplied by the other group companies: Total gross amount of the remuneration and other benefits supplied to the aforesaid persons by the Bank for the term between 01.01.2006 and 31.12.2006 is: 4.361.206,00.YTL. Total gross amount of the remuneration and other benefits supplied to the aforesaid persons by the Group Companies for the term between 01.01.2006 and 31.12.2006 is: 1.367.182,16.- YTL and 24.000 USD. 8. The amount and the characteristics of the benefits obtained by the Board of Directors President and Members, general coordinator, delegate member, general manager and vice general manager and other such superior management personnel and the key management personnel from the transactions such as sale/purchase acquisition or transfer of the assets not included in the ordinary operations of the Company: NO 9. The amount and the characteristics of the benefits obtained by the Board of Directors President and Members, general coordinator, delegate member, general manager and vice general manager and other such superior management personnel and the key management personnel from the transactions such as sale/purchase acquisition or transfer of the assets within the ordinary operations of the Company: NO 48 V. INFORMATION ON THE OPERATIONS 1. Operational sector, actual operations subject and position of the company within the sector: Şekerbank T.A.Ş. operates in the banking sector and its business scope includes Incorporate and Trade Banking, Individual Banking, Small Sized Companies Banking. At the moment the Company has 215 branches and 1 correspondence office in abroad. 2. Good and service production amounts of the Company realized for each main product group within the term and the changes on them when compared to the previous term: 31.03.2007 Interests Received from Credits From Short Term Credits From Mid and Long Term Credits Interest Obtained from the Receivables under Prosecution Change % TP YP TP YP 126.801 3.343 310.015 13.011 -59,1% -74,3% 92.325 3.201 241.065 12.666 -61,7% -74,7% 31.162 142 57.629 345 -45,9% -58,8% 3.314 - 11.321 - -70,7% - - - - - - - Premiums Obtained from Source Disposal Fund 3. 31.12.2006 TP YP Good and service sale amounts of the Company realized for each main product group within the term and the changes on them when compared to the previous term: 31.03.2007 Account Name Total 31.12.2006 Change % Total Total Turkish Money Bank Deposits 14 274 -94,9% 57.609 165.403 -65,2% 89 130 -31,5% Trade Deposits 14.947 31.430 -52,4% Other Deposits 9.348 13.187 -29,1% - - - 82.007 210.424 -61,0% - - - 10.968 28.178 -61,1% Bank Deposits 6 384 -98,4% 7 Day Notification Deposits - - - Precious Mines D,Hs, - - - Total 10.974 28.562 -61,6% General Total 92.981 238.986 -61,1% Saving Deposits Official Deposits 7 Day Notification Deposits Total Foreign Currency DTH 4. Distribution of the new revenue amount realized by the Company within the last three years on the basis of operation area and geographical structure of the market: (NO) 49 5. The place and the size of the facilities where 10% of more of the sale revenue or production of the Company was realized/manufactures: Metrocity Building containing the Trade/KOBİ (Small/Middle Sized Incorporation)/Operation Banking, Fund Management, Project Finance, Credit Management units of Şekerbank T.A.Ş. is located at Büyükdere Cad. No:171 MetroCity Plaza 1.Levent/Istanbul at it has a total area of 5075 m2. The building containing Individual Operations, External Operations and Foreign Exchange, General Management Operations, Credit Operations, Software and Project Management units is located at Cumhuriyet Mah. Abdi İpekçi Cad. Karaman Sok.No:9 Yakacık/Kartal and it has a total area of 5300 m2. 6. Information on the incentives and subversions related to the Company: NO 7. Information on the stocks of the companies dealing with mining and other such activities, estimations for the economic reserves, and their estimated use term, privilege term and conditions, economical conditions required for the operation of them, actual operations: NO 8. Summary information on the production or manufacture technology employed: NO 9. Significant new products and operations: ADK Products and Services Internet Branch and Telephone Banking Transition to Telephone and Internet Banking, Cash advance calculation tool, Password determination and change at Internet Branch, Bedaş invoice collections, Türksat invoice collections, Treasury bond State Debenture and Euro Bond Transactions (Purchase-Sale), Online tax collections, taking İzsu invoice instructions, Agency services and significant individual reminding via Internet Branch, Avea invoice collection and counter loading (may be realized only from the account), transmitting questions to the Call Center via communication hall with messages, Customs tax collections, Gisad telecom payment collections, Informing the customers via Şeker sms, realizing Internet Banking transactions more reliable via Şekerşifre, Share Certificates purchase-sale transactions, sending e-mail warnings to the customers about the monetary movements at Individual/Internet Branch, online collection of İski invoices, sending Short Messages (SMS) to the Customers, AKUT Donations, Nature Association donations, Unicef donations. Call Center Giving Şeker Company Card and Business Card support via IVR and password determination, development of IVR and card passwords in compliance with EMV, giving Platinum credit card support, establishment of infrastructure for the call direction to the Platinum credit card customers assistance company, SMS sending to inform about the results of the Limit and Term Change demands, Cancellation Analysis Application Change and call of the customers asking for cancellation via AntiAttrition Group, calling the debtor customers Credit Card and Individual Credit Card customers by Collection Group ATM Password change ability for the Chipped Şekerbank Card on ATMs (Chip&Pin), Telephone banking password change and determination, Jitter (enabling jitter characteristics against card copying in the regions where there exists a security risk). Trade/KOBİ/Operational Banking Products and Services Operation Credits, Organic Agriculture Greenhouse Credit, Agricultural Inventory Credit, Quality Certificate, Stock Rising Investment Credit, Franchising Credit, Raw Material Credit, TMO Trade Credit against Voucher, Agricultural Equipment Credit, Breeding Milk and Stock Raising Credit, 50 Trade Credit in installments (credits for the sector selling goods and services, taxed with simple methods or keeping books according to the operation accounts (including second class tradesmen)), Tradesmen Credited Deposit Credit, BMC brand new and second hand financing (a campaign with a single vehicle company), Credits against Trade Plate Pledge (Taking the trade plates and lines at the metropolitan states as a security against the credits made available) Collection Credits (Crediting/making installations for tax collections of the trade companies), Tourism Support Credit Individual Credit Products and Services Dwelling Credits for Completed Construction Projects, Dwelling Construction Cooperative Completion Credit, Individual Finance Credit Fund Management Products and Services Term Currency Purchase Sale (Forward) Transactions 10. Information on the production/service processes with a significant effect on operations or profitability: NO 11. Number of the working personnel working at the moment and within the previous 3 years on the basis of their categories: 31.12.2004 Total personnel at the beginning of the term Administrative personnel (not a union member) Administrative personnel (union member) Other Personnel (union member) Other Personnel (not a union member) Total personnel at the end of the term Administrative personnel (not a union member) Administrative personnel (union member) Other Personnel (union member) Other Personnel (not a union member) 12. 31.12.2005 31.12.2006 Current Situation 31.03.2007 3000 3334 3405 3370 526 621 350 726 350 362 700 377 1289 1385 1336 1342 835 966 1019 1064 3334 3405 3370 3509 621 350 671 362 700 369 1385 1336 1322 966 1019 1008 Distribution of the personnel working at the moment and within the previous year on the basis of the main sectors: Our company carries out its activities only in the banking sector. 51 13. Information on the real estates owned by the Company: a) In the Last Financial Term (as of 31.12.2006) ; Type Building Building Building Building Year of Acquisition 01.01.1971 01.01.1975 Building Building Building Building Building Building Building Building Building 01.01.1978 01.01.1971 ÇEMBERLITAŞ ANKARA BARTER OFFICE 01.01.1974 IZMIR WAREHOUSE 01.01.1972 KAYSERI 01.01.1974 Building Building Building Building Building Building Building Building Building Building Building Building Building Building Building Building Building 1.100 - - 360 1.350 - - - 266 706 - - - 435 1.440 - 205.9 8 - 45 20 - 480 1.500 - 494.03 800 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 500 695 - 410 580 01.01.1981 KASTAMONU 316 612 01.01.1983 KÜTAHYA TOPHANE OFFICE BUILDING ANKARA BARTER OFFICE 01.01.1983 ADANA BARTER OFFICE 01.01.1981 01.05.1985 BEŞIKTAŞ 01.05.1985 GÖZTEPE 01.09.1985 01.11.1985 MERSIN BARTER OFFICE DENIZLI BARTER OFFICE 01.11.1985 BOZÜYÜK 220 1.900 1859,1 4.705 380,48 48 120 1 225 681 168 1.680 3 182 513 01.11.1985 ESKIŞEHIR 493 1.000 01.11.1985 TARSUS 237 457 01.11.1985 NAZILLI 336 650 01.01.1986 AMASYA 310 715 01.02.1986 315 625 01.02.1986 ÇORUM ANTALYA BARTER OFFICE 01.03.1986 A_YENIŞEHIR 450 2.250 01.11.1986 ELBISTAN 165 275 01.11.1986 ŞANLIURFA 304 810 01.12.1986 KÜÇÜKESAT 620 3.000 01.12.1986 BURSA 402 920 01.04.1987 456 472 01.05.1987 KAHRAMANMARAŞ 10 FLATS AT KADIKÖY AND ZİVERBEY BRANCH 304 3.098 01.05.1987 AKHISAR 126 624 01.08.1987 MECIDIYEKÖY 600 1.275 01.11.1987 215 388 01.04.1986 KARACABEY SAMSUN BARTER OFFICE 01.02.1988 SOMA 454 01.06.1988 LODGE AT ÇANKAYA 01.06.1988 ADANA 01.07.1988 01.12.1988 BOĞAZLIYAN ISTANBUL BARTER - - TURHAL KARTAL - - 01.01.1971 01.01.1980 - - - 1.995 - - 632 402 - - 310 AFYON - - - MERZIFON 01.01.1980 Deposit Amount - 01.01.1977 Building Building 250 In kind Rights on the G. Mobile Assets and Their Value(YTL) - - Building Building Value (YTL) 2.093 Building Building Tax Net (YTL) 768 Building Building Book Value MERSIN Building Building K.EREĞLI M² 01.01.1971 01.01.1981 Building AKŞEHIR AKYAZI Building Building ADAPAZARI 01.01.1974 Building Building Location - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 360 208,42 420 435 785 328 900 618 309 52 OFFICE Building Building Building Building Building Building Building Building Building 01.12.1988 01.05.1989 Building Building Building Building Building Building Building Building Building Building Building Building Building Building Building Building Building Building Building Building 180 225 405 01.06.1991 LODGE AT ESKİŞEHİR 130 87 01.07.1991 LODGE AT KÜÇÜKESAT 175 01.08.1991 LODGE AT İZMİR 592 485 01.11.1991 LODGE' AT BURSA 750 70 01.12.1991 ESKİŞEHİR 400 1.098 01.03.1992 500 1.100 01.12.1992 OSTİM IST.REGIONAL MANAGEMENT 2990 5.010 01.12.1992 DENİZLİ 139 65 01.04.1993 BABAESKİ 180 310 01.06.1993 SİVAS 431 2.000 01.08.1993 ADANA GAZİPAŞA 714 1.850 01.09.1993 YENİ KADIKÖY 950 1.266 01.06.1994 SÖKE 241 405 01.11.1994 YALVAÇ 260 323 01.11.1994 EDİRNE 01.01.1995 LODGE' AT DÜZCE 01.03.1995 MANİSA 273 918 15 215 870 01.01.1996 SAMSUN 294 426 01.03.1996 BEYOĞLU 299 673 01.03.1996 İST.SECTIONS 299 673 01.06.1996 01.06.1996 UZUNKÖPRÜ 184 630 BOSTANCI - 01.06.1996 ÇERKEZKÖY 01.06.1997 01.12.1997 LODGE AT ADANA ADANA GAZİPAŞA ADDITIONAL SERVICE BUILDING 300 375 01.03.1998 ORDU 933 1.072 01.09.1998 IĞDIR 330 176 01.06.1999 AYRANCI 01.03.1983 DENİZLİ SOYSAL OFFICE BUILDING-KIZILAY BRANCH 01.04.2003 İST. METROCİTY 01.09.2000 Building Building 158 LÜLEBURGAZ Building Building .LODGE AT BÜYÜKESAT 487 01.11.1989 Building Building MECIDIYEKÖY 01.04.2004 İST. METROCİTY 392 1.320 - 352 600 181 150 290 5.700 1442 7.001 721 3.465 TOTAL 81.775 53 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - b) Final situation (as of 31/03/2007); Type Building Building Building Year of Acquisition 01.01.1971 01.01.1975 01.01.1974 Location Tax Net (YTL) Value (YTL) Deposit Amount In kind Rights on the G. Mobile Assets and Their Value(YTL) 250 1.045 - - - AKŞEHIR 360 1.277 - - - AKYAZI 266 690 - - - 435 1.402 - - - 205,9 8 - - - 18 - - - 1.438 - - - 01.01.1978 ÇEMBERLITAŞ Building 01.01.1971 ANKARA BARTER OFFICE 01.01.1974 Book Value ADAPAZARI Building Building M² IZMIR WAREHOUSE 45 Building 01.01.1972 KAYSERI 480 Building 01.01.1974 K.EREĞLI 494 762 - - - Building 01.01.1971 MERSIN 768 2.004 - - - Building 01.01.1977 MERZIFON 310 609 - - - Building 01.01.1971 TURHAL 500 667 - - - Building 01.01.1980 AFYON 402 1.952 - - - Building 01.01.1980 KARTAL 410 568 - - - KASTAMONU 316 601 - - - 220 1.870 - - - 4.635 - - - 47 - - - 1 - - - - - Building 01.01.1981 Building 01.01.1981 KÜTAHYA Building 01.01.1981 TOPHANE OFFICE BUILDING 1859 ANKARA BARTER OFFICE 380,5 Building Building Building 01.01.1983 01.01.1983 01.05.1985 ADANA BARTER OFFICE 120 BEŞIKTAŞ 225 671 - 1.650 - - - 505 - - - 986 - - - - - Building 01.05.1985 GÖZTEPE 168 Building 01.11.1985 BOZÜYÜK 182 ESKIŞEHIR 493 TARSUS 237 449 - - - Building Building 01.11.1985 01.11.1985 01.11.1985 NAZILLI 336 640 - Building 01.01.1986 AMASYA 310 704 - - Building 01.02.1986 ÇORUM 315 614 - - - Building 01.03.1986 A_YENIŞEHIR 450 2.213 - - - Building 01.11.1986 ELBISTAN 165 271 - - - Building 01.11.1986 ŞANLIURFA 304 799 - - - 2.954 - - - 906 - - - 466 - - - - - - Building Building 01.12.1986 KÜÇÜKESAT 620 Building 01.12.1986 BURSA 402 01.05.1987 KAHRAMANMARAŞ 10 FLATS AT KADIKÖY AND ZİVERBEY BRANCH 456 01.05.1987 AKHISAR 126 615 - - - 1.256 - - - 384 - - - - - Building 01.04.1987 Building Building 304 3.053 Building 01.08.1987 MECIDIYEKÖY 600 Building 01.11.1987 KARACABEY 215 SOMA 454 Building 01.02.1988 355 - 208,4 415 - - - ADANA 435 773 - - - BOĞAZLIYAN 328 890 - - - ISTANBUL BARTER OFFICE MECIDIYEKÖY BRANCH UPPER FLOORS BÜYÜKESAT KOZA-SEYHAN (BAĞLAYAN) SOK. LODGE 618 305 - - - - - - - - - Building 01.06.1988 LODGE AT ÇANKAYA Building 01.06.1988 Building Building 01.07.1988 01.12.1988 Building 01.12.1988 Building 01.05.1989 Building 01.11.1989 Building 01.06.1991 Building 01.08.1991 Building 01.11.1991 Building 01.12.1991 Building 01.03.1992 Building 01.12.1992 LÜLEBURGAZ LODGE IN ESKİŞEHİR (GÜNEY ŞEKER SİTESİ) 2 DUBLEX FLAT 3 FLAT LODGES IN İZMİR BALÇOVA LODGE IN BURSA OSMANGAZİ ESKİŞEHİR TAŞBAŞI SERVICE BUILDING OSTİM BRANCH SERVICE BUILDING M.Ş.M.G.SUYU MOBLIE ASSETS ISTANBUL 0 482 158 178 225 399 130 - - - - - - - - - - - - - - - - - - - - - 87 592 480 750 69 400 1.086 500 1.089 2990 4.960 54 .REGIONAL MANAGEMENT Building 01.12.1992 Building 01.04.1993 Building 01.06.1993 Building 01.08.1993 Building 01.09.1993 Building 01.06.1994 Building 01.11.1994 Building 01.11.1994 Building 01.01.1995 Building 01.03.1995 Building DENİZLİ 2.BÖLGE YILDIRIM İNŞ.G.MEN. BABAESKİ BRANCH SERVICE BUILDING SİVAS BRANCH SERVICE BUILDING ADANA GAZİPAŞA SERVICE BUILDING YENİ KADIKÖY BRANCH SERVICE BUILDING 139 SÖKE ŞB HIZMET BINASI YALVAÇ BRANCH SERVICE BUILDING EDİRNE BRANCH SERVICE BUILDING 241 LODGE' IN DÜZCE MANİSA BRANCH SERVICE BUILDING 01.03.1983 9 FLATS IN SAMSUN BEYOĞLU ISTANBUL SECTIONS İST.SECTIONS FLAT NUMBER 9 UZUNKÖPRÜ BRANCH SERVICE BUILDING ÇERKEZKÖY BRANCH SERVICE BUILDING ADANA GAZİPAŞA EK SERVICE BUILDING ORDU BRANCH SERVICE BUILDING IĞDIR BRANCH SERVICE BUILDING AND LODGE AYRANCI BRANCH SERVICE BUILDING DENİZLİ BRANCH SERVICE BUILDING 1ST FLOOR SOCIAL OFFICE BUILDINGKIZILAY BRANCH Building 01.04.2003 METROCITY Building 01.04.2004 METROCITY ANKARA BİRLİK SERVICE BUILDING ISTANBUL KARTAL SERVICE BUILDING Buildingların Modification and Decoration Costs 01.01.1996 Building 01.03.1996 Building 01.03.1996 Building 01.06.1996 Building 01.06.1996 Building 01.12.1997 Building 01.03.1998 Building 01.09.1998 Building 01.06.1999 Building 01.09.2000 Building Building 01.01.2007 Building 01.01.2007 2007 180 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 308 431 1.980 714 1.830 950 1.253 401 260 319 273 910 0 14 215 862 294 422 299 667 299 667 184 624 392 1.309 300 372 933 1.063 330 174 352 595 181 149 290 5.600 1442 6.957 - - - 721 3.443 - - - - - - - - - - - - - - - 0 1.624 0 1.672 168 TOTAL 14. 64 83.745 Tangible Fixed Asset movements of the Company: Buildings Costs Opening Balance, 1 January 2007 Additions Exits (-) Reevaluation Value Decrease (Provision)/Return Closing Balance, 31 March 2007 Accumulated Depreciation Opening Balance, 1 January 2007 Current Term Depreciation Expenditures Exists Closing Balance, 31 March 2007 Net book value, 31 March 2007 Real estates acquired due to receivables Other Fixed Assets Mobile Assets obtained by financial leasing Total 139.133 7.696 (289) (104) 146.436 22.324 2.199 (3.450) 21.073 62.851 830 (382) 63.299 23.066 3.200 26.266 247.374 13.925 (4.121) (104) 257.074 51.075 1.125 55.007 14.156 121.363 1.458 (128) 52.405 94.031 271 (132) 1.264 19.809 827 (375) 55.459 7.840 1.052 (6) 15.202 11.064 3.608 (641) 124.330 132.744 55 Net book value, 31 December 2006 15. 88.058 21.199 7.844 8.910 126.011 Information on the real estates rented or hired by the Company: a) In the Last Financial Term (as of 31.12.2006) ; Information on the Real estates hired by the Company Real Hired from M2 Location Disposal Rent Estate (Person/ Type Amount Asset Company) Type Ö.Solak,N.Çalışkan Fahri Canpolat Mecit,Mustafa Mutlu A.Ali Güngör Alpullu Pan.Ek.Koop. Cüneyt, Mehmet, Elmas Başaran H.Torunlar, A.Şahin, Mehmet Y. Karagöz, Hüseyin- Sultan ÇALIŞKAN Nurettin Işık H.B.Kurt Osman İncedağ Süreyya Bereket Ahmet,Cevriye Tunç Vehbi Koç Ali Dede Z.Yaman,A.Sarı İbrahim UYGUN Rıza Özarı Mustafa Aydar Belediye Hatice-Erdoğan Öksüz Suat Çanatay A. Alımcı İ. Uygur,A. Karaboğa S.Turan Kaya Karakaya Vakıflar Gen. Müd. S.Şahbaz M.İrfan Başyazıcıoğlu M.Keleş Baki, Salih, Fikret Oğraş Abdullah,Ahmet Özgür, Kaan, Mahir Zaimoğlu Fatma Erize Hüseyin-Selahattin – Fahrettin Arif İncekara Z.Giray Özer Refan,Ahmet, Fatih ve Arzu Şenel Sicima Tekstil Tic. Haydar Taşdemir Ali Parlak Mehmet Güzel M.Tarık Şener Hasan Topçu İ.A.Hav.Li.İşl. A.Ş. Kazım Ünal Mahmut Tavlaşoğlu Bülent Bulutoğlu Öznur Özkoç Rent Term Branch Branch Branch Branch Branch Branch 330 206 120 285 300 478 ADIYAMAN AFŞİN AKSARAY ALANYA ALPULLU ALTUNİZADE Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch 1666 EUR 656,08 YTL 3377,29 YTL 6213,8 YTL 334,31 YTL 5500 USD 04.11.2002-04.11.2012 02.11.1999-02.11.2009 01.11.2003-01.11.2008 03.03.2001-03.03.2011 01.08.2006-01.08.2007 01.11.2003-01.11.2013 Branch Branch 500 503 ANK/BALGAT ANK/BAŞKENT Bank Branch Bank Branch 5166,66 USD 12500 YTL 01.01.2005-01.01.2010 01.01.2003-01.01.2008 Branch 356 Bank Branch 9000 YTL 01.06.2006- 01.06.2011 Branch Branch Branch Branch Branch Branch Branch Branch Branch Branch Branch Branch Branch Branch Branch Branch Branch Branch Branch Branch Branch Branch Branch 290 182 150 240 450 325 150 435 360 314 216 195 450 290 402 262 325 641 455 290 375 661 350 ANKARA/ YILDIZEVLER ANTALYA BAFRA BANAZ BANDIRMA BAYRAMPAŞA BEYOĞLU/İST. BEYŞEHİR BİRLİK BODRUM BURDUR CEYHAN ÇANKIRI ÇAY DEMETEVLER ANKARA DİYARBAKIR DÜZCE ELAZIĞ ISTANBUL EMİRDAĞ ERCİYES ERZİNCAN ERZURUM Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch 4750 EUR 3007,67 YTL 562,6 YTL 3743,24 YTL 5007,26 YTL 13212,6 YTL 705,9 YTL 5701,5 YTL 2500 USD 3463,56 YTL 1131,77 YTL 3000 YTL 569,73 YTL 2837,89 YTL 3439,46 YTL 3823,15 YTL 4053,28 YTL 7190,14 YTL 7735 USD 513,86 YTL 2600 USD 3898,38 YTL 5734,74 YTL 01.02.2003-01.02.2013 09.02.2006-09.02.2011 01.07.2005-01.07.2010 01.11.2001-01.11.2006 01.12.2001-01.12.2011 15.05.2003-15.05.2008 01.12.2005-01.12.2010 01.11.2001-01.11.2008 02.01.2003-02.01.2013 05.06.2002-05.06.2012 15.02.2002-15.02.2012 01.01.2006-31.12.2010 01.06.2000-01.06.2007 15.05.1999-15.05.2009 15.12.2001-15.12.2011 01.12.2002-01.12.2012 01.07.2002-01.07.2012 06.08.2004-06.08.2014 01.03.2003-01.03.2008 01.02.2000-01.02.2010 15.02.2005-15.02.2010 30.07.2003-30.07.2013 01.12.2002-01.12.2007 Branch 910 ETİLER/İST. Bank Branch 9000 USD 01.01.2004-01.01.2014 Branch Branch 404 240 Bank Branch Bank Branch 3871,36 YTL 7307,96 YTL 04.11.2002-04.11.2007 15.04.2002-15.04.2012 Branch 263 Bank Branch 10133,2 YTL 01.07.2002-01.07.2012 Branch Branch 400 165 FETHİYE GAZİOSMANPAŞA /ANK. GAZİOSMANPAŞA /İST. GEBZE GİRESUN Bank Branch Bank Branch 6627,6 YTL 4500 YTL 01.11.2000-01.11.2005 15.07.2006-15.07.2011 Branch Branch Branch Branch Branch Branch Branch 400 375 256 464 190 405 100 Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch 6000 USD 5069,55 YTL 3250 YTL 2648,75 YTL 3000 YTL 5000 USD 1287,08 USD 15.10.2004-15.10.2014 15.06.2003-15.06.2013 01.06.2006-01.06.2011 01.02.2002-01.02.2012 01.12.2006-01.12.2013 22.10.2000-22.10.2005 21.11.2004-21.11.2007 Branch Branch Branch Branch 460 155 210 253 İKİTELLİ/İST. İMES/İST. İNEGÖL İSKENDERUN ISPARTA İST/4.LEVENT İST/AHL(SERBEST BÖLGE ) İST/KOZYATAĞI İST/KÜÇÜKYALI İST/MEGACENTER İST/NİŞANTAŞI Bank Branch Bank Branch Bank Branch Bank Branch 10801,98 YTL 7.000.00 YTL 2293,89 YTL 13415,27 YTL 01.01.2002-01.01.2007 01.10.2006-01.10.2011 01.12.2002-01.12.2007 12.10.2005-12.10.2015 56 R.Çakır,A.Alkaş İbrahim Dalcı S.Topaloğlu Kaya Holding A.Ş. Hasan Gültekin Mehmet Ertürk-Yusuf Ziya Ertürk Mehmet Nuri Kutlu Z.Yüksel Krom, Funda Krom, Untaş İnş.Ltd.Şti. G.Özen Kolaylı Yolbulan Tic. Karaman Tic. Ve San. Od. Branch Branch Branch 470 120 481 Branch Branch 285 375 Branch 200 Branch 490 Branch Bank Branch Bank Branch Bank Branch 3500 USD 2741,25 USD 9309,21 YTL 01.12.2002-01.12.2007 01.02.2002-01.02.2007 04.11.2002-04.11.2007 Bank Branch Bank Branch 2850 USD 3000 USD 01.05.2005-01.05.2015 01.01.2005-01.01.2015 Bank Branch 8649,42 YTL 01.04.2006-01.04.2011 Bank Branch 9500 YTL 25.12.2006-25.12.2016 250 İZM/KARABAĞLA R İZM/KARŞIYAKA Bank Branch 8258,02 YTL 01.12.2002-01.12.2007 Branch Branch Branch Branch 815 505 160 154 İZM/ŞİRİNYER İZMİT KARABÜK KARAMAN Bank Branch Bank Branch Bank Branch Bank Branch 8871,2 YTL 6730,29 YTL 1778,49 YTL 3896,2 YTL 15.04.2006-15.04.2011 01.06.2002-01.06.2012 03.03.2003-03.03.2013 01.07.2005-01.07.2010 Branch 256 Bank Branch 1625 USD 01.05.2005-01.05.2010 Branch 250 Bank Branch 3000 USD 20.02.2003-20.02.2008 Branch Branch Branch 370 310 335 Bank Branch Bank Branch Bank Branch 2.034.18 YTL 2500 EUR 7000 USD 01.08.2005-01.08.2012 01.12.2002-01.12.2007 01.01.2005-01.01.2010 Branch Branch Branch Branch Branch Branch Branch 235 285 200 335 420 216 342 YENİ SANAYİ/ KAYSERİ KAZIMKARABEKİ R/ANK. KIRŞEHİR KUŞADASI LEVENT ÇARŞI/İST. LÜLEBURGAZ MALATYA MALTEPE/İST MANAVGAT MARMARİS MASLAK/İST. MERTER/İST. Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch 6166,66 YTL 5000 YTL 3560,69 YTL 3166 USD 4909,77 YTL 2896,5 YTL 10095,45 YTL 01.07.2006-01.07.2011 10.03.2006-10.03.2011 01.05.2004-01.05.2009 15.03.2003-15.03.2008 04.11.2002-04.11.2007 01.12.2004-01.12.2009 01.06.2002-01.06.2008 Branch Branch Branch Branch 101 131 256 392 NEVŞEHİR NİĞDE NİKSAR OSMANİYE Bank Branch Bank Branch Bank Branch Bank Branch 1000 USD 6215,26 YTL 671,72 YTL 2287,91 YTL 02.04.2001-02.04.2008 12.03.2001-12.03.2008 01.01.2000-31.12.2009 17.12.2002-17.12.2009 Branch 380 Bank Branch 7356,4 YTL 01.01.2003-01.01.2010 Branch Branch Branch Branch Branch Branch Branch Branch Branch 240 274 442 178 230 400 125 396 213 Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch 3896,2 YTL 4827,33 YTL 3900,16 YTL 1102,08 YTL 1250 USD 2163,67 YTL 83,34 YTL 1181,02 YTL 1140,83 YTL 01.12.2003-01.12.2013 15.03.2003-15.03.2008 01.01.2005-31.12.2011 01.10.2004-01.10.2008 02.10.2000-02.10.2007 01.06.2003-01.06.2013 01.01.2003-01.01.2006 05.08.2003-05.08.2013 01.03.2006-01.03.2011 Branch 383 PORSUK/ ESKİŞEHİR REŞİTGALİP/ANK. RİZE SAMSUN SEYDİŞEHİR SİNCAN SİTELER/ANK SULTANDAĞI SUSURLUK ŞARKİKARAAĞAÇ ŞEHİT KAMİL Bank Branch 1500 USD 01.02.2000-01.02.2010 Branch Branch Branch Branch Branch 815 192 320 387 300 ŞİRİNEVLER/İST ŞUHUT TAŞKÖPRÜ TEKİRDAĞ TOKAT Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch 5662,41 YTL 698,1 YTL 883,33 YTL 2897,5 YTL 3224,62 YTL 01.02.2002-01.02.2009 01.01.2005-31.12.2009 01.01.2006-31.12.2011 01.09.2002-01.09.2012 01.07.2005-01.07.2010 Branch Branch Branch Branch 338 220 141 187 BÜSAN ORG SAN. TOROS/ADANA TOSYA TRABZON Bank Branch Bank Branch Bank Branch Bank Branch 1500 USD 3107,87 YTL 904,75 YTL 7500 USD 01.01.2005-31.12.2009 01.05.2000-01.05.2010 29.09.2004-29.09.2009 17.01.2005-17.01.2010 Branch Branch Branch Branch Branch Branch Branch 483 385 154 421 394 150 148 ULUDAĞ/BURSA UŞAK ÜMİTKÖY/ANK. ÜNYE VAN YENİÇUBUK ZONGULDAK Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch 3250 USD 4212 YTL 4653,39 YTL 1916,66 YTL 3000 USD 557,96 YTL 3453,2 YTL 16.02.2000-16.02.2010 01.09.2005-01.09.2007 15.12.2001-15.12.2011 01.05.2006-01.05.2011 19.08.2004-19.08.2014 14.05.2001-14.05.2008 11.05.2003-11.05.2008 Sinan Başyazıcıoğlu Uğurlu Tic.A.Ş. Osman Yalçınkaya Guyap Sencer Mümtaz Esmer Alpullu Pancar Ekicileri Hasan İhsan Yıldırım Doğan Kozanoğlu H.İbrahim Kendiroğlu Hamdi AK Nazmi Akbacı Dursun,Turgut, Turan Keskinkılıç İclal Başer M.Uyanık İsmet Kihti Muzaffer-Müzeyyen Teke Mine Uğural Zeki Balıkçı Sevimli Demirsaç Tic. H.Demirağ Mehmet,Hüseyin Güneş Ayşe Gürkaynak Sadık Panayırcı Belediye Altan-Ayhan Üstündağlı Belediye F.Fehmi,M.Ali Hösükoğlu Yaşar Aksoy Belediye Ergün ALAY Emlakbank Vakfı M.Yamanoğlu, N. Pekel Kalkan Yapı Gülşide Yaşar N. Ulusoylar Eyüp, M.Emin Polatoğlu Celal Şahin Uşak Pan. Ekicileri N. Ayanoğlu Yalçın Taşçıoğlu Nazi,Muzaffer Pulat Ahmet Ergün Meliha Yüksel İST/PENDİK ÇARŞI İST/YEŞİLKÖY İST/ZEYTİNBURN U İST/SEFAKÖY İVEDİK ORG..SAN./ ANK. İZM/HATAY 57 Erdoğan ÇalakH.Yüksel Ali Uzun Zekai Şafak Erol Mutlu Mümin Gür Mehmet-Himmet Yıldız A.Niyazi Ercan/M.Cemil Ercan 1/2+1/2) Mustafa Yılmaz Ziyahin Oğuz Musa Çınar Sevin Çiftçi,EminEthem-ZümralMukadder Damla Aliasgeri Özbudak Bahar Dervişoğlu,Gültekin Turhan Türkan İleri Doğan ParlasAhmet Parlas M.Onur Ağım/G. Özoğuz 1/2+1/2) Branch 270 İST/KAVACIK Bank Branch 3500 USD 01.08.2005-01.08.2012 Branch Branch Branch Branch Branch Branch 330 480 255 358 230 1073 İST/SULTANBEYLİ ŞAŞMAZ/ANK. ETLİK TURGUTLU TOPÇULAR BEYPAZARI Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch Bank Branch 6250 YTL 5000 YTL 9000 YTL 3500 YTL 4000 EUR 11000 YTL 01.07.2006-01.07.2013 01.06.2006-01.06.2011 02.06.2006-02.06.2011 15.06.2006-15.06.2013 07.06.2006-07.06.2011 01.08.2006-01.08.2013 Branch Branch Branch Branch 270 170 284 198 ÇARŞAMBA ÇUBUK SİLİFKE ÖDEMİŞ Bank Branch Bank Branch Bank Branch Bank Branch 4000 YTL 3400 YTL 4200 YTL 3900 YTL 01.08.2006-01.08.2011 14.08.2006-14.08.2016 15.08.2006-14.08.2013 15.09.2006-15.09.2016 Branch Branch 208 312 SALİHLİ GÖNEN Bank Branch Bank Branch 5250 YTL 2500 YTL 15.10.2006-15.10.2013 01.10.2006-01.10.2013 Branch Branch 252 487 Bank Branch Bank Branch 4000 YTL 3600 YTL 05.09.2006-05.09.2011 01.11.2006-01.11.2013 Office 721 Office 21000 USD 15.08.2005-15.08.2008 Office 360 Office 5500 USD 15.04.2005-15.04.2010 Office 250 Office 630 USD 15.08.2005-15.08.2015 Office 175 SERİK GIDA ÇARŞISI/İZMİR METROCİTY 21st FLOOR METROCİTY 15. FLOOR METROCİTY 2.Tes K. METROCİTY 7.BD.KT METROCİTY-ATM Office 1200 USD 01.10.2004-01.10.2014 721 USD 01.12.2004-30.11.2009 Uğur Tekstil Metrosite İnş.Müş.Hizm.Tic. Metrosite İnş.Müş.Hizm.Tic. Metrosite İnş.Müş.Hizm.Tic. Sermin Hasşerbetçi Tarpam A.Ş. Tarpam A.Ş. Hamdi Acarakçay İnci-Osman Çağalıkoç Depo Depo Depo Depo Dwelling 4500 100 100 550 İrfan Öztürk Av.Hikmet Yücesoy Sefa,Vefa,Murat Şahin Kombassan Holding Mehmet Ramazan Bayel Dwelling Office Office Office Office 140 350 207 350 422 Atilla Odabaşı,Ö.Başaran Dwelling B.DÜZÜ İSKİTLER- 1 İSKİTLER- 2 BALGAT LEVENT/ BÜYÜKHANLI ATAŞEHİR/İST ISTANBUL BURSA KONYA GAZİANTEP Depo Depo Depo Depo Dwelling 7000 USD 253,23 YTL 172,95 YTL 3000 YTL 2500 USD 01.11.2004-01.11.2014 01.06.2006-01.06.2007 01.12.2006-01.12.2007 01.08.2006-01.08.2011 03.01.2006-03.01.2007 Dwelling Office Office Office Office 700 YTL 3300 USD 2000 YTL 3400 USD 2800 YTL 03.05.2006-03.05.2008 01.11.2006-01.11.2013 03.11.2006-03.11.2014 10.11.2006-10.11.2011 01.12.2006-01.12.2016 SARIKONAKLAR/ ISTANBUL Dwelling 3750 USD 05.06.2006-05.06.2009 58 Rented to (Person/ Institution) Tab Gıda San. Real estate Type Shop Information of the rented Real estates M2 Location Disposal Rent Type Amount 199 Fast Food 77.267,87 Shop 130 Ankara/Çan Market 40.137,01 Office Place 1.100 Adana/ Private Course 80.602,89 Office Place 760 Adana/ Market 10.125,39 b) Final situation (as of 31/03/2007); Information on the Real estates hired by the Company Real Hired from M2 Location Disposal Rent Estate (Person/ Company) Type Amount Asset Type Branch Branch 160 672 Antalya Belediye Branch 486 Mustafa Sert Ahmet Gündoğdu Oya Tümen,Macit Beceren Branch Branch Branch 270 250 384 Mehmet Yiğit Branch 270 Mustafa Aknil Doğan Polat Branch Branch 240 523 Sedat Özkan Branch 327 Kayseri Serbest Blg. A.Ş. Branch 112 Zeki Erkin Büte-Mustafa Akman A.Keler,Y.Keler, M.Demircioğlu Konsad A.Ş. Branch Nilgün Güler Yalçın Altan Kemal ÖZTÜRK Cemal,Mahmut,M.Emin, Ferit Ceylan Züleyha Aydın Zeki Gürkan Saniye Tek Tire Ticaret Odası KİLİS ERBAA Ülker,Taner Tümay Yüksel Aker Zekiye Kurutepe ANK/CEBECİ ANTAKYA/ HATAY ANTALYA YENİ HAL AYDIN ÇORLU İST/ FENERYOLU ISTANBUL/ KAZASKER İST/SUADİYE İST/ÜSKÜDAR 28.05.2003 01.08.2013 Seyhan Mehmet Kaynak Mehmet Ökten 02.04.200302.04.2008 Seyhan Migros Türk A.Ş 30.12.2002 01.02.2012 kaya Zirve Dershanesi 18.10.2001 15.04.2010 hçelievler ve Tic. A.Ş Migros Türk A.Ş Istanbul/Ba Rent Term Rent Term Bank Branch Bank Branch 7500 YTL 4100 YTL 17.03.2007-17.03.2012 01.02.2007-01.02.2012 Bank Branch 1866,66 YTL 01.01.2007-31.12.2007 Bank Branch Bank Branch Bank Branch 9000 YTL 7750 YTL 11830 YTL 01.01.2007-01.01.2013 01.03.2007-01.03.2012 04.02.2007-04.02.2012 Bank Branch 12000 YTL 01.05.2007-01.05.2012 Bank Branch Bank Branch 10000 YTL 12000 YTL 01.02.2007-01.02.2012 01.02.2007-01.02.2017 Bank Branch 9000 USD 01.04.2007-01.04.2014 Bank Branch 5040 USD 01.01.2007-31.12.2007 300 İZM /GAZİBULVARI KAYSERİ SERB. BÖL TUZLA Bank Branch 9250 YTL 23.01.2007-23.07.2016 Branch 450 ÇAĞLAYAN Bank Branch 12000 YTL 01.01.2007-01.01.2014 Branch Branch 480 352 Bank Branch Bank Branch 10000 YTL 3000 YTL 07.02.2007-07.02.2017 16.02.2007-16.02.2017 Branch Branch Branch 257 304 280 AVCILAR AYRANCILAR/ İZMİR KIRKLARELİ ÇANAKKALE BATMAN Bank Branch Bank Branch Bank Branch 5000 YTL 7000 YTL 5000 YTL 22.02.2007-22.02.2017 13.03.2007-13.04.2007 23.03.2007-22.03.2017 Branch Branch Branch Branch 259 295 224 306 FATSA KUMLUCA KOZAN TİRE Bank Branch Bank Branch Bank Branch Bank Branch 2750 YTL 4250 YTL 3500 YTL 3500 YTL 26.03.2007-26.03.2014 01.05.2007-01.05.2013 26.04.2007-26.04.2017 15.04.2007-15.04.2017 Branch Branch Office 450 402 500 KİLİS ERBAA GÜMÜŞSUYU Bank Branch Bank Branch Office 4000 YTL 4000 YTL 7500 YTL 01.06.2007-01.06.2017 20.04.2007-20.04.2012 01.04.2007-01.04.2012 Dwelling 65 KARTAL/ ISTANBUL Dwelling 900 YTL 01.02.2007-01.02.2008 59 Özlem Arzu Azer Dwelling Yüksel Deniz Sipahioğlu Dwelling Rented to (Person/ Institution) Çepaş Galvaniz A.Ş 16. Real estate Type Factory BEŞİKTAŞ/ ISTANBUL ULUS/ ISTANBUL Dwelling 1700 USD 15.04.2007-15.07.2008 Dwelling 2800 YTL 15.04.2007-15.04.2008 Information of the rented Real estates M2 Location Disposal Rent Type Amount 1400 Ankara/Kazan Factory 40.950 Rent Term 01.01.2007-30.04.2007 Assets obtained via financial leasing by the Company: a) Informtion on the assets obtained via financial leasing by the Company within the last 3 years: Type of the Lease Lease Owner of the Annual Rent Amount (YTL) 2004 2005 2006 Leased Place CommencementAmount Leased Property at Completion Date (YTL) the end of the Leasing Period Office (Metrocity 8th Floor) Office (Metrocity 9th Floor) Office (Metrocity 10th Floor) System Development Steel Shelves purchased for Beylikdüzü Warehouse Wooden Furniture Money Counter Machine Back up Unit and Notebook Wooden Products purchased for the Branches Furniture for Çubuk Branch Furniture for Beypazarı Branch 20 Vehicle Amount 20 Vehicle armor plating amount Voice Record Devices and Furniture Furniture for UPS and Branches 50 Wall type ATM Wooden Furniture Network Infrastructure and System Room Wooden Furniture Wooden Furniture 16.12.2004-28.11.2008 2.185.370 ŞEKERBANK T.A.Ş. 84.007 279.323 410.351 30.12.2004-30.12.2008 2.185.370 ŞEKERBANK T.A.Ş. 84.007 279.323 410.351 30.12.2004-31.12.2008 2.185.370 ŞEKERBANK T.A.Ş. 84.007 279.323 410.351 11.02.2005-30.01.2009 48.046 ŞEKERBANK T.A.Ş. - 43.670 4.943 29.03.2005-30.03.2009 106.314 ŞEKERBANK T.A.Ş. - 88.250 17.753 20.06.2005-30.06.2009 01.08.2006-30.09.2009 39.533 73.201 ŞEKERBANK T.A.Ş. ŞEKERBANK T.A.Ş. - 22.825 - 16.405 10.139 14.08.2006-30.07.2010 518.238 ŞEKERBANK T.A.Ş. - - 71.791 12.09.2006-30.08.2010 63.868 ŞEKERBANK T.A.Ş. - - 7.057 19.09.2006-30.09.2010 72.075 ŞEKERBANK T.A.Ş. - - 7.969 19.09.2006-30.09.2010 105.637 ŞEKERBANK T.A.Ş. - - 11.654 06.10.2006-30.10.2010 06.10.2006-30.10.2010 466.560 220.486 ŞEKERBANK T.A.Ş. ŞEKERBANK T.A.Ş. - - 38.275 18.076 06.10.2006-30.10.2010 74.676 ŞEKERBANK T.A.Ş. - - 6.206 19.10.2006-30.10.2010 76.689 ŞEKERBANK T.A.Ş. - - 6.374 13.02.2006-31.12.2010 13.02.2006-31.12.2010 13.02.2006-31.12.2010 1.023.266 112.351 2.938.879 ŞEKERBANK T.A.Ş. ŞEKERBANK T.A.Ş. ŞEKERBANK T.A.Ş. - - 57.816 3.042 80.562 29.12.2004-19.12.2008 26.11.2004-24.11.2008 137.360 27.307 ŞEKERBANK T.A.Ş. ŞEKERBANK T.A.Ş. - - - 60 PC HP Hard Disk Wooden Furniture Information Process Devices Computer Equipment Vanguard Router Wooden Furniture Computer Equipment Computer Equipment Wooden Furniture Wooden Furniture Server Computer Equipment Computer Equipment Wooden Furniture Bill board 04.11.2004-03.11.2008 01.11.2004-30.10.2008 14.10.2004-14.10.2008 05.10.2004-03.10.2008 14.132 39.136 12.765 110.246 ŞEKERBANK T.A.Ş. ŞEKERBANK T.A.Ş. ŞEKERBANK T.A.Ş. ŞEKERBANK T.A.Ş. - - - 24.09.2004-23.09.2008 198.087 ŞEKERBANK T.A.Ş. - - - 09.09.2004-09.09.2008 26.08.2004-26.08.2008 16.08.2004-15.08.2008 83.730 32.642 67.957 ŞEKERBANK T.A.Ş. ŞEKERBANK T.A.Ş. ŞEKERBANK T.A.Ş. - - - 03.08.2004-01.08.2008 231.158 ŞEKERBANK T.A.Ş. - - - 29.07.2004-25.07.2008 29.07.2004-25.07.2008 08.07.2004-07.07.2008 21.05.2004-20.05.2008 316.368 356.872 14.522 70.144 ŞEKERBANK T.A.Ş. ŞEKERBANK T.A.Ş. ŞEKERBANK T.A.Ş. ŞEKERBANK T.A.Ş. - - - 19.04.2004-18.04.2008 55.107 ŞEKERBANK T.A.Ş. - - - 25.10.2004-24.10.2008 02.06.2004-02.06.2008 17.739 236.211 ŞEKERBANK T.A.Ş. ŞEKERBANK T.A.Ş. - - - b) Information on the assets obtained via financial leasing by the Company as of 31/03/2007 (final situation): The Owner of the Leased Leasing Leased Property Leasing Period Property at the End of Amount Type CommencementLeasing Period (YTL) Completion 93 ATMs and Wooden Furniture Wooden Furniture, Pc and LCD Monitor Wooden Furniture and Adaptor Wooden Furniture and 18 Notebooks 17.01.2007-30.01.2011 31.01.2007-29.02.2011 1.827.028 1.087.138 ŞEKERBANK T.A.Ş. ŞEKERBANK T.A.Ş. 01.03.2007-30.03.2011 13.03.2007-30.03.2011 185.935 100.153 ŞEKERBANK T.A.Ş. ŞEKERBANK T.A.Ş. Leased Property Type Leasing Period CommencementCompletion Leasing Amount (YTL) The Owner of the Leased Property at the End of Leasing Period Office (Metrocity 2nd Floor) 13.03.2007-30.03.2011 4.045 ŞEKERBANK T.A.Ş. 17. Possible changes on the raw material supply conditions: NO 18. Changes on the sale conditions and the sale policy in the last year, the countries where the products are exported: NO. 19. Information on patent, license, industrial-trade, financial and other such agreements: Brands registered on behalf of Şekerbank T.A.Ş. 61 Brand Name Şekerbank Figure Şekerbank Figure Şeker Leasing Figure Şeker Yatırım Figure Şeker Sanat Figure Şeker Çocuk Figure Registration Number and Date 26.11.2001 - 2001/24519 12.05.2004 - 2004/13615 12.05.2004 - 2004/13616 12.05.2004 - 2004/13617 12.05.2004 - 2004/13618 12.05.2004 - 2004/13619 26.11.2011 12.05.2014 12.05.2014 12.05.2014 12.05.2014 12.05.2014 7 8 9 10 11 12 13 14 Şeker Factoring Figure Şekerbank 24 Figure Şeker.net Şeker Bilişim Şeker Tel Şeker Menu ŞekerKur Şeker Puan 31.05.2004 - 2004/16014 31.05.2004 - 2004/16015 31.05.2004 - 2004/16017 31.05.2004 - 2004/16018 31.05.2004 - 2004/16019 31.05.2004 - 2004/16020 31.05.2004 - 2004/16021 31.05.2004 - 2004/16022 31.05.2014 31.05.2014 31.05.2014 31.05.2014 31.05.2014 31.05.2014 31.05.2014 31.05.2014 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Şeker Hesap ŞEKER HİZMET ŞEKER DESTEK ŞEKER YARDIM ŞEKER ALIŞVERİŞ ŞEKER HABER ŞEKER GENÇ ŞEKER 24 ŞEKER BÜLTEN ŞEKER ONLİNE ŞEKER TELEFON ŞEKER MOBİL ŞEKER HAT ŞEKER POS ŞEKER KART ŞEKER SMS 27.10.2004 - 2004/35632 23.01.2006 - 2006 01906 23.01.2006 - 2006 01911 23.01.2006 - 2006 01910 23.01.2006 - 2006 01909 23.01.2006 - 2006 01904 23.01.2006 - 2006 01908 23.01.2006 - 2006 01907 23.01.2006 - 2006 01905 01.02.2007 - 2006/01912 01.02.2007 - 2006/01913 01.02.2007 - 2006/01914 01.02.2007 - 2006/01915 01.02.2007 - 2006/01916 01.02.2007 - 2006/01917 01.02.2007 - 2006/01918 27.19.2014 23.01.2016 23.01.2016 23.01.2016 23.01.2016 23.01.2016 23.01.2016 23.01.2016 23.01.2016 Registration decision taken by TPE Registration decision taken by TPE Registration decision taken by TPE Registration decision taken by TPE Registration decision taken by TPE Registration decision taken by TPE Registration decision taken by TPE 1 2 3 4 5 6 20. Term If exists, research and development policy related to the new product/services and product/service processes within the last 3 years: New products and operations: ADK Products and Services Internet Branch and Telephone Banking Transition to Telephone and Internet Banking, Cash advance calculation tool, Password determination and change at Internet Branch, Bedaş invoice collections, Türksat invoice collections, Treasury bond - State Debenture and Euro Bond Transactions (Purchase-Sale), Online tax collections, taking İzsu invoice instructions, Agency services and significant individual remindments via Internet Branch, Avea invoice collection and counter loading (may be realized only from the account), transmitting questions to the Call Center via communication hall with messages, Customs tax collections, Gisad telecom payment collections, Informing the customers via Şeker sms, realizing Internet Banking transactions more reliable via Şekerşifre, Share Certificates purchase-sale transactions, sending e-mail warnings to the customers about the monetary movements at Individual/Internet Branch, online collection of İski invoices, sending Short Messages (SMS) to the Customers, AKUT Donations, Nature Association donations, Unicef donations. 62 Call Center Giving Şeker Company Card and Business Card support via IVR and password determination, development of IVR and card passwords in compliance with EMV, giving Platinum credit card support, establishment of infrastructure for the call direction to the Platinum credit card customers assistance company, SMS sending to inform about the results of the Limit and Term Change demands, Cancellation Analysis Application Change and call of the customers asking for cancellation via Anti-Attrition Group, calling the debtor customers Credit Card and Individual Credit Card customers by Collection Group ATM Password change ability for the Chipped Şekerbank Card on ATMs (Chip&Pin), Telephone banking password change and determination, Jitter (enabling jitter characteristics against card copying in the regions where there exists a security risk). Trade/KOBİ/Operational Banking Products and Services Operation Credits, Organic Agriculture Greenhouse Credit, Agricultural Inventory Credit, Quality Certificate, Stock Rising Investment Credit, Franchising Credit, Raw Material Credit, TMO Trade Credit against Voucher, Agricultural Equipment Credit, Breeding Milk and Stock Raising Credit, Trade Credit in installments (credits for the sector selling goods and services, taxed with simple methods or keeping books according to the operation accounts (including second class tradesmen)), Tradesmen Credited Deposit Credit, BMC brand new and second hand financing (a campaign with a single vehicle company), Credits against Trade Plate Pledge (Taking the trade plates and lines at the metropolitan states as a security against the credits made available) Collection Credits (Crediting/making installations for tax collections of the trade companies), Tourist Support Credit Individual Credit Products and Services Dwelling Credits for Completed Construction Projects, Dwelling Construction Cooperative Completion Credit, Individual Finance Credit Fund Management Products and Services Term Currency Purchase Sale (Forward) Transactions Under the frame of the Strategy Project Application Plan accepted by our Board of Directors, the authority of our branches to open new credits was increased in order to strengthen the efficiency of Şekerbank in the marketing activities and new established 8th Region Management was equipped with required authorities and started its operations. According to the Strategy Project Application Plan; in compliance with its local banking understanding, our Bank aims to obtain a significant market share within the Banking Sector in 2010 by increasing its credit and deposit figures more than the sector development rate by active marketing and credit activities especially for the companies in Construction, Food-Agriculture, Tourism sector and KOBİ in all sectors. In order to improve the efficiency of Şekerbank in marketing activities, target customer shall be segmented and operations shall be focused on KOBİ and Micro Operation Banking areas. Furthermore, Banking Services and Cash Management, Trade/KOBİ/Operation Banking and Strategic Research and Product Development Units are the units that became more efficient after the restructuring. In order to analyze the customer demands correctly and efficiently and meet the requirements of the future, Şekerbank determined prioritized sectors. With the help of customer focused approach, the number of our customers increased and customer satisfaction was improved. Our applications can be seen more efficiently in the construction, food and agriculture sectors where Şekerbank traditionally operates. Besides these sectors, tourism sector, other manufacture sectors, retail sales and trade operations are the other areas in which our Bank improves its operations. 63 Target Customer Mass: KOBİs and Micro Incorporations Şekerbank focused on KOBİ and Micro/Tradesmen segments which have high development potential as its target mass. Credit product packs with flexible installations were formed for the machinery and equipment supply and formation of the technologic infrastructure of KOBİs which form a significant part of its customer portfolio since its establishment in its long term history and supply of raw materials and any kind of plant, facility, machinery and equipment needs of the companies within the production, agriculture and stock raising sectors. In the future years, Şekerbank shall continue to develop special products for KOBİs and Micro Incorporations and increase its market share in these areas. 21. Informtion on the issues stated in Articles 1, 2, 3, 5, 7, and 12 of this part if they are effected from extra ordinary conditions: NO 22. Information on the work suspensions occurred within the last 12 months and that had or might have a significant effect on the financial situation of the Company and information on union activities and mass employment contracts: NO 23. Significant duties of the Company: Current Situation a) with Shareholders b) with Personnel c) with Tax Office d) with Other Official Bodies and Entities e) with Other Real or Juridical Persons 24. Near Past (Previous 3 Years) - 70 Claimants 131 Claimants 13 Claimants Pending. (Except Interests) Pending. (Except Interests) Pending. (Except Interests) 1.498.116,44 YTL 916.778,00 YTL 398.215,24 YTL Pending. (Except Interests) Pending. (Except Interests) Pending. (Except Interests) Bybloss 2.500.000,00 USD Besler Gıda 1.500.000,00 EUR MetroGross Mar. 2.213.514,76 YTL Information on the investments of the Company: Pending Investments Commencement Date Completion Date Central System Investment 01.01.2006 31.12.2006 2.100.000 New Software Demands 01.01.2006 31.12.2006 4.900.000 NT Server Investment 01.01.2006 31.12.2006 280.000 Disk Storage Investment 01.01.2006 31.12.2006 1.190.000 Network Investment 01.01.2006 31.12.2006 280.000 External Source Disposal Type 01.01.2006 31.12.2006 168.000 Technical Trainings 01.01.2006 31.12.2006 84.000 Unforeseen Compulsory Hardware Investments 01.01.2006 31.12.2006 350.000 Unforeseen Compulsory Software Investments IT Security 01.01.2006 31.12.2006 280.000 01.01.2006 31.12.2006 70.000 Branch+Unit Hardware Realization IT Infrastructure Renewal Investment 01.01.2006 31.12.2006 15.422.596 24.09.2004 24.09.2008 3.950.000 TOTAL Investment Amount (YTL) 29.074.596 64 a) In the Last Financial Term (as of 31.12.2006) ; i) Information on the investments realized by the Company and incentives used and their conditions: NO ii) Total amount of the investment incentives to be obtained in the future: NO iii) Investment policy of the Company: NO b) Final situation (as of 31.03.2007); i) Information on the investments realized by the Company and incentives used and their conditions: NO ii) Total amount of the investment incentives to be obtained in the future: NO iii) Investment policy of the Company: NO 25. Information on the planned material investments: NO 26. Financial investment policies within the last three years: NO 65 VI. 1. INFORMATION ON THE GROUP Business scopes of the Group companies and the shareholdings of the Company: Şeker Yatırım Duran Varlıklar A.Ş. Finance Sector %99,04 Şeker Faktoring Hizmetleri A.Ş. Finance Sector Şeker Finansal Kiralama A.Ş. Finance Sector Şekerbank Off-Shore Ltd. Finance Sector Şekerbank (Kıbrıs) Limited Finance Sector Şeker Bilişim Sanayi A.Ş. IT Sector TARPAM A.Ş. Service Sector %84,99 %43,01 %74,30 %91,91 %95,99 %56,70 In the financial tables of Şeker Finansal Kiralama A.Ş., which is a subsidiary of the Company, issued on 31.03.2007 in compliance with the international accounting standards, the capital of the subsidiary was shown as 25.000.000-YTL, and its equities was minus 3.072.707.-YTL. Since it was seen that the subsidiary lost 2/3 of its capital in the financial tables issued in compliance with the Capital Market Board standards the Stock Exchange Board of Directors was taken a decision at its meeting held on 07.06.2007 and it was said that the balance sheet of Şeker Finansal Kiralama A.Ş. to be issued in compliance with the provisions of Article 324 of Turkish Commercial Code and the “Public Announcement Information Form” approved by the audit company should be submitted to İMKB in order to be announced to the public. “Public Announcement Information Form” to be issued before the independent audit and the balance sheet as of 31.05.2007 and that was reissued and approved by the independent audit institution in compliance with the provisions of Article 324 Paragraph 2 of Turkish Commercial Code and issued in compliance with the provisions of Article 324 of Turkish Commercial Code was submitted to İMKB Management on 06.07.2007. In the independent special audit report issued by DRT Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş. it was said that “no points showing that the issued balance sheet does not reflect the financial position of the Company correctly and clearly and therefore it was determined that the capital loss of the Company was met and 1/3 of the Company capital was saved”. According to the financial reporting standards announced by SPK, the issued capital of the Company was 7.220.021 YTL as of 31.05.2007, and the issued capital amount stated n the balance sheet on the basis of current value basis in compliance with Article 324 of Turkish Commercial Code the issue capital was 15.517.957 YTL. Under the frame of the action plan started to be applied in the last quarter of 2006 in order improve the capital structure of the Company, a capital increase at amounts of 3 million YTL in 2008, and 2 million YTL in 2009 were undertaken in cash. According to the financial tables prepared in compliance with Article 324 of Turkish Commercial Code our subsidiary eliminated its capital loss. 2. Payable-receivable relations of the Company with its Partners, Subsidiaries, Depended Companies and other group companies: The Risk Group of the Company Credits and other receivables 31.12.2006 31.03.2007 Interest and Commission Expenditures Subsidiaries and Depended Direct and Indirect Partners of Other Factors Included in the Companies the Company Risk Group Cash In-kind Cash In-kind Cash In-kind 8.015 8.185 396 77.141 65.343 - 66 3.940 3.994 - - - - The Risk Group of the Company Deposits 31.12.2006 31.03.2007 Deposit Interest Expenditures The Risk Group of the Company Subsidiaries and Depended Direct and Indirect Partners of Other Factors Included in the Companies the Company Risk Group Current Term Previous Term Current Term Previous Term Current Term Previous Term 8.291 4.980 177 10.090 8.291 169 - - - - Subsidiaries and Depended Direct and Indirect Partners of Other Factors Included in the Companies the Company Risk Group Current Term Previous Term Current Term Previous Term Current Term Previous Term Transactions for Purchase Sale Purposes Term Opening Term End Total Profit/Loss Transactions to be Protected from the Risks Term Opening Term End Total Profit/Loss 11.125 11.763 454 806 11.125 38 - - - - - - - - - - 3. Information on the Credits received by the Company and transferred to depended companies and/or subsidiaries: NO 4. Information on the Credits received by the depended Companies and/or subsidiaries and made available to the Company: NO 5. Information on the Credits obtained by the Company and transferred to the other group companies: NO 6. Information on the credits obtained by the group companies and made available to the Company: NO 67 7. The amount of the guarantees, securities, warranties, advances, undertakings, endorsements and other such liabilities given in favor of the Company, Subsidiaries, Depended Companies and other group companies: The Risk Group of the Company Subsidiaries and Depended Direct and Indirect Partners of Other Factors Included in the Companies the Company Risk Group Cash In-kind Cash In-kind Cash In-kind Credits and Other Receivables 31.12.2006 31.03.2007 Interest and Commission Incomes 8. 8.015 8.185 396 77.141 65.343 - 3.940 3.994 - - - Information on the consultancy, management and other such services rendered or taken by the Company, subsidiaries, dependent companies and other group companies within the financial period and the amounts paid or received: Under the frame of the “Fund Income Sharing Protocol” executed between Şekerbank T.A.Ş. and TARPAM, a subsidiary of the Company, on 29.03.2007; a service fee shall be paid to TARPAM for the incomes to be obtained from the collections to be made at the collection offices opened by TARPAM at the rates stated in such protocols. In January 2007 139.955-YTL, in February 2007 149.249-YTL and in March 2007 176.356-YTL was paid to TARPAM as service fee. Şekerbank T.A.Ş. paid 3.308.447 YTL on 31.12.2006 and 950.889 YTL on 31.03.2007 to Şekerbilişim for the developed software. ŞEKER YATIRIM obtained 13.125 YTL from Şekerbank T.A.Ş on 31.12.2006 as commission and paid 4.866.180 YTL agency commission payment. The amount of the agency commission payment as of 31.03.2007 is 930.288 YTL. ŞEKER FAKTORING paid 159.419 YTL to Şekerbank T.A.Ş. on 31.12.2006 as banking service expenditures. 2.119 YTL was paid as of 31.03.2007. 9. The amount of the credits made available for the Company managers by the Company and other group companies, their terms, applied interest rates and the guarantees given for the managers within or out of the business scope of the Company: 1 2 3 4 5 6 7 31.03.2007 –Superior Management Personnel Credit Personnel Credit Personnel Credit Personnel Credit Personnel Credit Personnel Credit Personnel Credit TOTAL Amount (YTL) 9.523,70 35.052,26 12.784,09 9.803,79 27.863,46 7.967,03 37.119,53 140.113,86 68 Interest Rate 0,00001 18,84 13,08 18,96 13,08 21 13,08 - 10. The amount of the Credits made available by the Company to the managers of the subsidiaries, dependent companies and other group companies, their terms, applied interest rates and the guarantees given for the managers within or out of the business scope of the Company: 1 2 3 4 5 6 31.03.2007 –Superior Management Personnel Credit Personnel Credit Personnel Credit Personnel Credit Personnel Credit Personnel Credit Amount (YTL) 3.696,54 24.500,33 997,32 25,40 519,26 15.347,28 Interest Rate 15,48 20,04 0,00001 0,0001 0,00001 13,08 11. Summary Information on the projects related to the transfer of equities and/or external sources to any subsidiary, dependent company or any other group company: NO 12. Information on the Company share and/or real estate sale/purchase by the Company to the subsidiaries, depended companies and other group companies within the last three years: 2004 1/3 shares of Previous Merter Branch shares were sold to Şekerbank T.A.Ş Sos.Sig.San. Fund on 06.01.2004 against 100.000 YTL. 2005 2006 - 604.799 Şeker Yatırım Duran Varlıklar NO A.Ş. shares were purchased from Şekerbank Off Shore Limited against 820.008,00 YTL, - 119.999 Şeker Yatırım Duran Varlıklar A.Ş. shares were purchased from Şeker Faktoring Hizmetleri A.Ş. against 162.700,00 YTL, - 299.999 Şeker Yatırım Duran Varlıklar A.Ş. shares were purchased from Şeker Faktoring Hizmetleri A.Ş. against 322.320,00 YTL, 2007 2 floor of Metrocity Building was purchased for Banking services from Şeker Finansal Kiralama AS. via leasing against 4.045 Thousand YTL nd - 999.999 Şeker Faktoring Hizmetleri A.Ş. shares were purchased from Şeker Finansal Kiralama A.Ş. against 1.348.361,80 YTL and 14.999 Şeker Bilişim Sanayi A.Ş. shares were purchased against 8.350,86 YTL. 13. Amounts of the mobile assets included in the mobile assets and related mobile assets group and issued by the company shareholders, subsidiaries, depended companies and other group companies and the companies issuing those as of the last financial term: NO 14. Sale-purchase relations with the shareholders, dependent companies, subsidiaries and other group companies: a) In the Last Financial Term (as of 31.12.2006) ; Company Title PURCHASES Machinery Equipment Şeker Finansal Kiralama A.Ş. b) Final situation (As of 31/03/2007 Intermediate Term); 69 Transaction Type Amount Financial Leasing 5.746 PURCHASES Machinery Equipment Building 15. Company Title Transaction Type Amount Şeker Finansal Kiralama A.Ş. Şeker Finansal Kiralama A.Ş. Financial Leasing 3.200 Financial Leasing 4.045 Interest, rent and other such expenditures paid to the shareholders, dependent companies, subsidiaries and other group companies: a) In the Last Financial Term (as of 31.12.2006) ; Company Title INTEREST, RENT AND OTHER PAYMENTS TO THE GROUP Financial Leasing Şeker Finansal Kiralama Expenditures A.Ş. Deposit Subsidiaries and Depended Companies INTEREST, RENT AND OTHER PAYMENTS BY THE GROUP Credit Interest Income Subsidiaries and Depended Companies Transaction Type Amount Financial Leasing 2.076 Deposit 169 TOTAL 2.245 Credit 424 TOTAL 424 b) Final situation (as of 31/03/2007 Intermediate Term); Company Title Transaction Type INTEREST, RENT AND OTHER PAYMENTS TO THE GROUP Financial Leasing Şeker Finansal Kiralama Financial Leasing Expenditures A.Ş. Deposit Interest Subsidiaries and Deposit Expenditure Depended Companies TOTAL INTEREST, RENT AND OTHER PAYMENTS TO THE GROUP Credit Interest Income Subsidiaries and Credit Depended Companies TOTAL 70 Amount 676 177 853 396 396 VII. TAXATION BASIS RELATED TO THE SHARE CERTIFICATES A) Taxation of the incomes obtained from the sale of the share certificates 1. Share Certificates that have been acquired and listed at the Stock Exchange since 01.01.2006 1: Banks and the broker institutions shall deduct taxes at a rate of %10 2 quarterly on the basis of; i. The difference between the purchase and sale amounts of the relevant share certificates, ii. The incomes obtained from share certificate borrowing transactions realized by them. Limited Liability real persons and entities this rate shall be %0. If some of the share certificates acquired in different dates are sold, the purchase amount taken as a base for the tax amount calculations shall be determined on the basis of first in first out method. If the share certificates are sold before they are acquired, the tax calculation shall be made on the basis of the amount of the first purchase transaction to be realized after the sale date. In case of several purchases within the same day, the weighted average method can be applied for the determination of the purchase costs within the same day. The commissions paid for the purchase and sale transactions and Bank and Insurance Transaction Tax are taken into consideration on the deduction amount. In case several share certificate purchase sale transactions in a quarter, these transactions shall be considered as a transaction for the realization of the tax deduction. The losses stem from the sale purchase of the share certificate can be settled from the deduction amount of the consequent terms provided that calendar year is not exceeded. No deduction is made on the sale of the share certificates that belong to the whole liability companies, listed in Istanbul Mobile Assets Stock Exchange (İMKB) and kept for a period of more than 1 (one) year. Furthermore, the provisions of Article 80 of Income Tax Law (GVK) numbered 193 shall not be applied for the incomes obtained from the sale of the share certificates that belong to full liability companies and listed in İMKB and kept for a period of more than 1 (one) year. No annual or individual declarations are given by the real persons for the sale purchase incomes of the share certificates subject to the deduction. These incomes are not included in the annual declarations to be submitted for the other incomes. The incomes obtained under trade operations are taken into consideration on the determination of the income in compliance with the trade income provisions and the taxes paid by deduction are settled from the tax calculated on the declarations where the incomes subject to deduction are stated in compliance with the provisions of Article 94 of GVK applied for the deducted taxes. On the other hand, if the income taxpayers desire, they can submit annual declarations for the profit and loss obtained in the quarters within the same calendar year. For this purpose, all the losses occurred within a year are collected from the declared income. Tax deduction shall be 15% of the declared income. The taxes deducted within the year shall be settled from the calculated tax, and the amounts that are not settled shall be rejected or returned in compliance with the general provisions. On the other hand, the amounts that can not be settled shall not be transferred to the consequent calendar years. 1 By adding Temporary Article 67 to the Income Tax Law numbered 193 to be in force as of 01.01.2006 , Law numbered 5281 on “Compatibility of Tax Laws to New Turkish Liras and Changes on Some Laws” in order to be applied for the taxation of the mobile assets for the period between 01.01.2006–31.12.2015 was announced on the Official Gazette dated 31.12.2004 and numbered 25687. On the other hand, Some amendments and additions were made on the Law dated 22.12.2005 and numbered 5436 on “Amendments on Public Finance Management and Control Law and Some Laws and Governmental Decrees” by the Temporary Article 67 and subject Law was announced by the Official Gazette dated 24.12.2005 and numbered 26033. Beside these, some amendments were made on the Law dated 27.06.2006 and numbered 5527 on “Amendments on the Income Tax Law” and on the Temporary Article 67 and these amendments were announced by the Official Gazette dated 07.07.2006 and numbered 26221. Furthermore, Income Tax General Announcements numbered 257, 258, 259 and 260 can also be referred. The Council of Ministers decision numbered 2006/10731 announced at the Official Gazette dated 23.07.2006 and numbered 26237 decreased the Income Tax withholding rate from %15 to %10 applied for the Turkish investors and increased the profit distribution withholding rate from 10% to 15%.. 71 Besides the share certificates, while determining the purchase sale incomes from the other mobile asset and capital market tools that shall be subject to quarterly deductions, the sale purchase transactions should be the same type. The incomes shall be determined separately for different types and subject to the deduction. Pursuant to the provisions of Temporary Article 67 Paragraph (5), the above mentioned tax application shall be effected from being a real or juridical person tax payer, being a limited or full liability tax payer, if there is a tax liability, if there is a tax exemption and the income is subject to a tax exemption. 2. Share Certificates Acquired before 01.01.2006 and Listed or Not Listed at İMKB: Share Certificates that belong to the full liability tax payer companies and acquired before 3 01.01.2006 shall not be subject to purchase and sale income deductions. 2.1. Real Persons 2.1.1. Full Liability Real Persons: Share certificate sale purchase incomes shall be subject to income tax in compliance with the provisions of Repeated Article 80 of GVK amended by Law numbered 4842 On the other hand, pursuant to the provisions of the same article, the incomes obtained from the sale of “the share certificates acquired without any law consideration, the share certificates listed at the mobile asset stock exchanges in Turkey and kept for a period of 3 (three) months or more and share certificates that belong to full liability incorporations and kept for a period of more than one year” shall not be subject to taxes. In the sale of the share certificates, like the sale of the public mobile assets, the acquisition amount can be taken into consideration by applying the wholesale good price rate declared by DİE excluding the month of sale pursuant to the provisions of Repeated Article 80 of GVK. Pursuant to the provisions of Repeated Article 80 of GVK, there shall be a need of submission a declaration for the part exceeding 13.000,-YTL of the amount left after deduction (after the application of the index rate) for 2005 (BKK numbered 2004/8295). Accordingly, the income obtained from those sold within three months after the purchase date shall be included in the income tax declaration as “Value increase income”. Those whose purchase and sale dates are later than three months shall be exempted from tax. 2.1.2. Limited Liability Real Persons: It is like the full liability real persons. On the other hand, if the whole income that is subject to limited liability tax pursuant to the provisions of GVK Article (86/2) is formed by the wages taxed by deduction in Turkey, self employed person incomes, mobile asset and real estate capital incomes and other revenues and incomes and they do not have any income subject to withholding, they shall not be subject to annual declaration but if they have incomes subject to withholding they shall be subject to annual income. Pursuant to the provisions of GVK Article (101/2), limited liability real persons have to submit their incomes and revenues stem from the sale of the mobile assets and rights to the tax office of the region where such assets and rights have been sold in Turkey with an individual declaration. 3 The share certificates acquired after 01.01.2006: Sale purchase incomes of the share certificates shall be subject to income tax pursuant to the provisions of Repeated Article 80 amended by Article 27 of GVK Law numbered 5281. On the other hand pursuant to the provisions of the aforesaid law and to be applied fort he incomes obtained after 01.01.2006, the incomes obtained from the share certificates shall not be subject to tax if the share certificates that acquired without any law consideration and belong to the full liability incorporations and kept by the owner for a period of (2) years or more”3. In the sale of the share certificates, like the sale of the public mobile assets, the acquisition amount can be taken into consideration by applying the wholesale good price rate declared by DİE excluding the month of sale pursuant to the provisions of Repeated Article 80 of GVK. Pursuant to the provisions of Repeated Article 80 of GVK, there shall be a need of submission a declaration for the part exceeding 6,.000,-YTL of the amount left after deduction (after the application of the index rate) for 2006 (for 2007 6.400,-YTL- GVK General Announcement numbered 259). Accordingly, the income obtained from those sold within three months after the purchase date shall be included in the income tax declaration as “Value increase income”. Those whose purchase and sale dates are later than three months shall be exempted from tax. The share certificates acquired after 01.01.2006 via the banks and broker institutions in Turkey or the incomes that are not subject to withholding in Turkey pursuant to the provisions of Temporary Article 67 of GVK shall not be declared. 72 2.2. Incorporations 2.2.1. Incomes Obtained from the Sale of the Share Certificates Registered at the Actives of the Incorporation Taxpayers: Purchase sale incomes obtained from the trade activities of the incorporation shall be declared and taxed as trade income. 2.2.2. Limited Liability Incorporations: Pursuant to the provisions of GVK Article (37/5), if the taxpayer Company has the right to sell and purchase mobile assets via an office or has a representative in Turkey, the purchase sale incomes shall be taxed as trade income. Pursuant to the Repeated Article 81 of GVK, if the limited liability taxpayer continuously deals with sale purchase activities, the incomes obtained from the currency differences shall be taken into consideration for the determination of the trade income. 3. Share Certificates acquired by real persons after 01.01.2006 and not listed at İMKB: After the amendments on Law numbered 5281, if the share certificates of the full liability companies not included in İMKB are sold within 2 years, the purchase sale income shall be exempted from tax. If such certificates are sold within 2 years the income obtained shall be stated in the annual declaration. B) Taxation of the share certificate profit shares and dividend advances For the share certificate profits to be obtained after 01.01.2006, the tax rules applied in 2005 shall be applied in the same except the deductions to be made pursuant to the provisions of Temporary Article 67 of GVK. The regulations for the taxation of the share certificate profits and dividend advances on 31.12.2005 and before shall be as follows. 1. Real Persons 1.1. Full Liability Real Persons: Pursuant to the provisions of Article (86/1-c) of GVK, declarations shall be submitted for the profit shares obtained from the incorporations including the mobile asset revenue amounts taxed by deduction and with a gross amount of 15.000,-YTL for 2005 revenue according to Article 9 of Law numbered 4842 4 (Second half of Income Tax) 5. Pursuant to the amendments on Article 94 Paragraph one clause (6) sub clause (b) of GVK by Law numbered 4842, deduction is made at the profit distribution stage. Pursuant to the Article (94/6-b) of GVK amended by Law numbered 4842, a deduction at the rate determined by the Council of Ministers (15%) shall be applied on the “distributed profit shares” distributed by the full liability incorporations to the “full liability real persons, those persons, who are not income or incorporation taxpayers and exempted from this tax, limited liability real persons, limited liability incorporations and the limited liability tax payers exempted from income and incorporation tax”. Pursuant to the provisions of Article 22 added to GVK by Law numbered 4842, “half of the profit shares” obtained from full liability incorporations and stated in Article 75 paragraph two clauses (1), (2) and (3) of GVK is exempted from income tax. Deduction made on this exempted amount pursuant to the provisions of Article 94 of GVK and the all the deducted tax shall be settled from the tax calculated on the 4 This amount is 18.000,-YTL for 2006 and 19.000,-YTL for 2007. With the amendments on the taxation of the profit shares made by Law numbered 4842 “tax receivable system” was cancelled and all the tax deductions made within the Company can be settled from the tax calculated on the basis of the annual declaration if the profit share is declared by annual declaration. 5 73 basis of the annual declaration if the tax is declared by annual declarations. Besides these, the free of charge share certificates acquired by the real person shareholders by the addition of profits to the capital should be declared as “mobile asset capital revenue” 6. Dividend advances are considered the same as the profit shares. 1.2. Limited Liability Real Persons: Pursuant to the provisions of Article (94/6-b) of GVK amended by Law numbered 4842, deduction at the rate determined by the Council of Ministers shall be applied on the “distributed profit shares” distributed by the full liability incorporations to the “full liability real persons, those persons, who are not income or incorporation taxpayers and exempted from this tax, limited liability real persons, limited liability incorporations and the limited liability tax payers exempted from income and incorporation tax 7. Pursuant to the provisions of GVK Article (86/2) if the all the limited liability is formed by the wages taxed by deduction in Turkey, self employed person incomes, mobile asset and real estate capital incomes and other revenues and incomes, there is no need to give annual declaration. On the other hand, pursuant to the provisions of Article (101/5) of GVK, other income and revenues obtained by the limited liability taxpayers from the works that were subject to real tax and abandoned, their other income and revenues obtained from tender increase or decrease or without any trade, agricultural or professional activity, mobile asset capital revenues not taxed by deduction and any kind of income and revenues should be declared to the tax office of the relevant region in Turkey with an individual declaration. 2. Incorporations 2.1. Profit shares obtained from the share certificates registered to the actives of the trade incorporations Pursuant to the provisions of Article (94/6-b) of GVK amended by Law numbered 4842, deduction at the rate determined by the Council of Ministers shall be applied on the “distributed profit shares” distributed by the full liability incorporations to the “full liability real persons, those persons, who are not income or incorporation taxpayers and exempted from this tax, limited liability real persons, limited liability incorporations and the limited liability tax payers exempted from income and incorporation tax. If they are obtained by trade institution as a result of trade activity such incomes shall be declared and taxed as trade income. Pursuant to the provisions of Article 6 of Law numbered 5520 on Incorporation Tax (KVK), the incorporation income is determined in compliance with the trade income provisions of GVK, and therefore they shall be applied for the trade incorporations and these income shall be included in the incorporation income. On the other hand, pursuant to the provisions of Article (5/1) of KVK, the profit shares obtained from participation to another full liability company are exempted from incorporation tax except the profit shares obtained from share certificates of the investment partners. 8 6 This issue can be summarized as follows: Pursuant to the Income Tax Announcement numbered 231 of the Ministry of Finance published at the Official Gazette dated 06/02/2000 and numbered 23956, the free of charge share certificates obtained by adding the profit to the company capital by the real persons should be declared as “Mobile Asset capital revenue” in compliance with Articles 85 and 86 of Income Tax Law. On the other hand, in the decision taken by 4th Court of Council of State taken on 06.12.2000 with Base Number: 2000/1307, Decision Number: 2000/5053 it was said that in Article 94 paragraph one clause (6/b-i) of GVK the addition of the profit to the is not considered as profit distribution and therefore there is no profit obtained for the shareholders and it was decided to cancel the Announcement numbered 231 on the declaration of these incomes and this decision became certain by the decision of the Tax Case Offices General Assembly dated 08/06/2001 with Base number: 2001/180 and Decision number: 2001/224. 7 On the other hand, pursuant to Temporary Article 62 added to GVK by law numbered 4842; if the profit shares obtained by the from the incomes obtained by the Incorporation Taxpayers on or before 31.12.1998 are exempted from income tax. In case of the distribution of the incomes that were obtained by the Incorporation Taxpayers out of the period before 31.12.1998 and within the financial period ending on 31.12.2002 or before are disturbed, after adding (1/9) of the profit obtained to the net amount of the profit shares obtained by real persons, half of the amount obtained shall be taken as a base for the tax purposes. If an annual declaration is given for this income, (1/5) of the amount stated in the declaration shall be settled as income tax. 8 On the other hand, pursuant to the provisions of Temporary Article 62 of GVK added by Law numbered 4842; 1. No deduction is made pursuant to the provisions of Article 94 of GVK from Incorporation Taxpayers if; a) the income is obtained in the financial terms ending on 31.12.1998 or before, b) incomes not included in clause (a) and obtained from in the financial terms ending on 31.12.2002 or before and exempted from incorporation tax. 2. The profit shares obtained by the real person under paragraph (1) clause (a) are exempted from income tax. 74 2.2. Limited Liability Incorporations: The explanations for the full liability incorporations are applied. On the other hand, deduction shall be applied on the amount transferred to the headquarters from the mobile asset capital revenue stated in Article 75 paragraph two clause 84) of GVK pursuant to the KVK. C) Explanation on the liability of the deduction of tax withholding by the issuer All the deductions to be made for the income obtained from the sale of share certificates in 2005 and before pursuant to the tax legislations shall be deducted by the relevant company and for the 01.01.2006-31.12.2015 term by the banks and the broker companies. 3. After adding the profit shares obtained by real persons under paragraph (1) clause (b) (1/9) of the profit obtained to the net amount of the profit shares obtained by real persons, half of the amount obtained shall be taken as a base for the tax purposes. If an annual declaration is given for this income, (1/5) of the amount stated in the declaration shall be settled as income tax. 4. If the Incorporation Taxpayers obtains any profit shares as stated in paragraph (1) in this Article directly or via their subsidiaries, the distribution of these profit shares and declaration of these profit shares shall be made in compliance with the provisions of paragraphs (1), (2) and (3) of this article. 5. Provisions of Article 22 of GVK shall not be applied fort he profit shares under this article. 75 VIII. OTHER ISSUES 1. The termination reasons of the joint stock companies stated in Turkish Commercial Code and Turkish Commercial Code and Execution and Bankruptcy Law are also applied for the companies open to the public. 2. Following documents are available for the examination of the deposit holders in the application place stated in Part II in the Company Headquarters located at Büyükdere Caddesi No: 171 Metrocity A-Blok 34330 1.Levent/ Istanbul: a) Articles of Incorporation, b) Any kind of reports (operation reports, independent audit reports, reports issued by the broker companies before the issuance, .....) financial tables, appraisals and opinions prepared by the experts and taken as a base for the information stated in the explanations. 3. (If exists) explanations on the provisions of the legislations for which the Company is subject to. The Company is subject to Banking Law numbered 5411 published in the Official Gazette dated 1 October 2005 and numbered 25983. 76 THE PERSONS RESPONSIBLE FOR THE EXPLANATIONS 1. We hereby declare that within our knowledge the data and information contained in these explanations are true and correct and there is no missing information that might materially effect these explanations. ŞEKERBANK TÜRK ANONİM ŞİRKETİ Address: Büyükdere Cad. No: 171 Metrocity A-Blok 34330 1.Levent/ISTANBUL Authorized Signatures H.Cenk EYNEHAN Investor Relations and Subsidiaries Manager Broker Company : Headquarters Address: İrem SOYDAN Financial Control and Accounting Manager Mesut ÖZDİNÇ Vice General Manager Şeker Yatırım Menkul Değerler A.Ş. Fulya Mah. Şenol Sk. No: 13/3 Şişli / ISTANBUL Nazmi SARIKAYA Vice General Manager Osman GÖKTAN General Manager We hereby declare that the information contained in this explanation and its annexes and related to the 31/12/2005, 31/12/2006, 31/03/2006 and 31/03/2007 terms and audited by us are in compliance with the audit report(s) issued by our Company. Independent Audit Company DRT Bağımsız Denetim ve Serbest Muhasebeci Mali Müşavirlik A.Ş. Özlem Gören Güçdemir Özlem Gören Güçdemir Responsible Shareholder Head Auditor Authorized Signatories Name Surname Title Sign Address Sun Plaza Dereboyu Sok No. 24 Maslak-Istanbul 2. Information on the responsible persons for each part of the Explanations: 3. If exists, explanations on the information audited by the independent audit companies besides the financial tables: 77