PERFORMANCE & FINANCIAL RESULTS – 2009H1

1. PERFORMANCE & FINANCIAL RESULTS – 2009H1 August 27, 2009

2. About UsOverview of Capital Markets Our PerformanceFinancial Results Expectations for the Rest of the Year Performance & Financial Results – 2009H1

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

4. About UsOverview of Capital MarketsOur PerformanceFinancial Results Expectations for the Rest of the Year Performance & Financial Results – 2009H1

5. Overview of CapitalMarkets • Equity Market Volume (In TL Billion) Derivatives Market Volume (In TL Billion) • Higher volume and better market performance in the first half of 2009 15.8% 408 30.4% 352 284 218 2008H1 2009H1 2008H1 2009H1 Source:www.vob.org.tr Source:www.imkb.gov.tr

6. Overview of CapitalMarkets • Bills & Bonds Market Volume (In TL Billion) 29.1% 429 332 2008H1 2009H1 Source:www.imkb.gov.tr • Lower interest rates and higher volume

7. Overview of Capital Markets Asset Management Asset Management ( In TL Million) Pension Funds grew 48.5% with respect to the same period of 2008 Mutual Funds* 28,347 Pension Funds 24,439 7,672 5,167 2008H1 2009H1 Remarkable growth continues on the pension fund side Source:www.spk.gov.tr *A Type and B Type Funds.

8. About UsOverview of Capital Markets Our PerformanceFinancial Results Expectations for the Rest of the Year Performance & Financial Results – 2009H1

9. Our Performance • Equity Market Volume and Market Share • (In TL Billion) Derivatives Market Volume and Market Share (In TL Billion) • Sustained leadership • Our trading volume increased 52.1% on annual basis, more than trippling the total market volume increase over the same period 8.08% 11.72% 15.16% 32.9 52.1% 33.3 33.0 6.15% 21.7 2008H1 2009H1 2008H1 2009H1 Source:www.vob.org.tr Source:www.imkb.gov.tr

10. Our Performance • Bills & Bonds Market Volume and Market Share* (In TL Billion) 17.38% 10.64% -28.7% 10.7 7.6 2008H1 2009H1 Source:www.imkb.gov.tr Continued to provide services in alternative markets tailored for the needs of our investors *Among Brokerage Houses

11. Our Performance Assets Under Management AuM – IS Asset Management & IS Investment (TL Million)* Mutual Funds portfolio size represents 22.6% of the market Pension Funds portfolio size represents 19.5% of the total pension funds Mutual Funds** 6,400 Pension Funds 5,300 1,500 967 2008H1 2009H1 AuM size reached TL 9 billion surging by 28.6% on annual basis, while pension funds and mutual funds registered 55.1% and 20.8% growth rates respectively. Source:IS Investment * Other Funds: Portfolio size of TL 733 mn and TL 1.011 mn for other funds for the periods of 2008H1 and 2009H1 respectively. **A Type and B Type Funds.

12. About UsOverview of Capital Markets Our PerformanceFinancial ResultsExpectations for the Rest of the Year Performance & Financial Results – 2009H1

13. Financial Results Main Financial Figures* Robust financial perfomance * Consolidatd

14. Financial Results Breakdown of Operating Revenues Breakdown of Operating Revenues (TL 000)

15. Financial Results Asset Management Asset Management Commissions TL(000) 2008Q1 2009Q1 2008Q2 2009Q2 2008H1 2009H1 We raised our management fees 58.8% when compared to 2008H1, while total portfolio size of mutual and pension funds grew 21% - The positive effect of our prime brokerage services has yet started to be seen on revenues

16. Financial Results Price Performance ISMEN Closing Price TL ISMEN’s price has increased more than 170% with respect to January 2, 2009 in addition to the high amount of cash dividend payment on May 4, 2009 A visible ROE expansion on the back of robust operating performance

17. Financial Results Dividend Policy Is Investment’s Board of Directors declared the company’s dividend policy as distributing at least 30% of the attributable profit as in cash and/or bonus shares

18. About UsOverview of Capital Markets Our PerformanceFinancial Results Expectations for the Rest of the Year Performance & Financial Results – 2009H1

19. Expectations for the Rest of 2009 • Our Maslak Branch and Suadiye liaison office are up and running in Istanbul despite the consolidation. • We will be more active in international capital markets through our Dubai liaison office as of end of 2009. • We keep our growing policy by openning new branches. • We have increased our market share in 2009 to clinch our uncontested leadership, our market performance approved this tendency as of 2009H1. • Single stock futures are expected to be seen in the last quarter of the year. • Extending Prime Brokerage service to new coming Asset Management Companies. • We have been assisting to establish new funds and intermediating for new funds.

20. Investor Relations Mr. Mert Erdoğmuş Assistant General Manager Phone : +90 0212 350 24 12 Fax: +90 0212 350 20 01 E-mail : merdogmus@isinvestment.com The Investor Relations Department is responsible for the timely communication of necessary, accurate, complete, comprehensible and easily accessible information and explanations, which are not considered to be trade secrets to its shareholders and stakeholders. http://www.isinvestmentcom/w.wa_ir.aspx Mr. Ozan Altan Vice President Phone : +90 0212 350 28 72 Fax : +90 0212 350 20 01 E-mail : oaltan@isinvestment.com

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

22. IS Investment

23. PERFORMANCE & FINANCIAL RESULTS – 2009H1 August 27, 2009