27.03.2008

At the meeting of Board of Directors that was held on 26 March 2008; It was unanimously decided to purchase the office building in Küçükçekmece, İstanbul, having an area of 13.120,86 m2, over a value of YTL 37.500.000 and the Sirkeci Office Building in Eminönü, İstanbul, having an area of 590 m2, over a value of YTL22.500.000 from Türkiye İş Bankası A.Ş.; namely with a value of YTL 60.000.000 as such their values shall be paid during deed transfer transaction, to have all kinds of tax, duty, charge and cost related with purchase/sale be covered by the parties. It was also decided to lease the said real estates to Türkiye İş Bankası A.Ş. for a period of 15 years over the values determined namely as YTL 254.000 + VAT per month for Güneşli office building and YTL 152.500 + VAT per month for Sirkeci office building. The rental rates in USD Dollars will be determined by dividing YTL rental rates to average buying and selling rate of Central Bank of the Republic of Turkey prevailing on the date of deed transfer. The rental rates will be increased in annual basis at the rate of "Consumer Price Index for All Urban Consumers" published by USA Business Statistics Office. With the involvement of the said real estates into the portfolio, we expect the annual rental income to increase nearly by %8.