In the Board of Directors meeting held on February 26, 2004, it was decided;
To settle the interest receivable of US$ 98,937,601 due on December 31, 2003 with the accrued interest thereof, in accordance with the Financial Restructuring Agreement (FRA) signed between our Bank and Çukurova Group companies on December 31, 2002, by the acquisition of Turkcell İletişim Hizmetleri A.Ş. shares that are owned by Çukurova Group and are not in circulation in the Istanbul Stock Exchange (ISE), at the weighted average price of the last 30 trading days in ISE (TL 14,718 per share), To grant Çukurova Group a right of option for the repurchase of the shares to be transferred, To set the repurchase price as the US$ equivalent on the acquisition date plus annual Libor + 3.5% interest (interest will be applicable for the days to elapse until the option is exercised), To terminate the right of option if not exercised within the period mentioned in the agreement signed between Çukurova Group, Savings Deposit Insurance Fund and Banking Regulation and Supervision Agency on January 31, 2003.
Yapı Kredi / 26 Feb 2004