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İş Yatırım Menkul Değerler A.Ş. Ocak 2005

PERFORMANCE & FINANCIAL RESULTS 2008/Q2. İş Yatırım Menkul Değerler A.Ş. Ocak 2005. August, 2008. ABOUT US. OVERVIEW OF CAPITAL MARKETS. OUR PERFORMANCE. FINANCIAL RESULTS. A NEW PRODUCT - EXPECTATIONS FOR HE REST OF THE YEAR. THE ONLY LISTED INVESTMENT BANKING INSTITUTION - ISE.

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İş Yatırım Menkul Değerler A.Ş. Ocak 2005

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  1. PERFORMANCE & FINANCIAL RESULTS 2008/Q2 İş Yatırım Menkul Değerler A.Ş. Ocak 2005 August, 2008

  2. ABOUT US OVERVIEW OF CAPITAL MARKETS OUR PERFORMANCE FINANCIAL RESULTS A NEW PRODUCT - EXPECTATIONS FOR HE REST OF THE YEAR

  3. THE ONLY LISTED INVESTMENT BANKING INSTITUTION - ISE FITCH: “AAA(tur)” • IS Investment offers variety of domestic and international services, such as; • Brokerage • Investment Advisory • Asset Management • Corporate Finance • Research The leading investment banking institution in Turkey and the investment arm of IS Bank

  4. ONCE AGAIN…BEST EQUITY HOUSE IN TURKEY IS Investment - once again - rewarded as the “Best Equity House in Turkey”

  5. ABOUT US OVERVIEW OF TURKISH CAPITAL MARKETS OUR PERFORMANCE FINANCIAL RESULTS A NEW PRODUCT - EXPECTATIONS FOR THE REST OF THE YEAR

  6. PERFORMANCE OF TURKISH CAPITAL MARKETS Equity Market (YTL Billion) Derivative Market (YTL Billion) 218 352.4 344.5 70.2 2007/Q2 2008/Q2 2007/Q2 2008/Q2 Despite the fluctuation in international markets , equity market increased its trading volume Derivative Market - Valued on expectations Bills & Bonds Market (YTL Billion) Eurobonds (YTL Billion) 3,5% 27.3 401 332.2 16.4 2007/Q2 2008/Q2 2008/Q1 2008/Q2 B&B Market displayed almost the same performance The trading volume of Turkish Eurobonds increased 66,5% in 2008/Q2

  7. ASSET MANAGEMENT Asset Management (USD Million) Pension Funds; expected to be the locomotive of the market 144.1 29.268 29.574 28.002 25.010 20.271 3.677 21.4 913 Pension Funds 4.744 3.818 Total 2.048 2006 2007 2008/08 Source: www.tspakb.org.tr Portfolio size of pension funds continue to confirm our claims to be the locomotive of fund business in near future, reaching USD 4.744 mn. despite the weaker performance of the markets

  8. ABOUT US OVERVIEW OF CAPITAL MARKETS OUR PERFORMANCE FINANCIAL RESULTS A NEW PRODUCT - EXPECTATIONS FOR THE REST OF THE YEAR

  9. LEADER IN THE MARKETS Equity Markets - (YTL Billion) Derivative Markets - (YTL Billion) 15,16% 6,37% 6,15% 33 21.7 21.9 17,10% 12 2007/Q2 2008/Q2 2007/Q2 2008/Q2 Despite the low performance of the market, we maintain our market leadership Uncontested leadership in the market Bills&Bonds Market - (YTL Billion) Eurobond Market – (YTL Billion) 17,38% 9,34% 12,80% 9,90% 10.7 2.5 8.1 1.6 2007/Q2 2008/Q2 2008/Q1 2008/Q2 Our trading volume growth in 2008/Q2 confirms our clear market leadership among the brokerage houses We rank the first among the brokerage houses

  10. ASSET UNDER MANAGEMENT AuM & Pension Funds portfolio size represent 20,7% and 18,7% of the funds market respectively AuM & Pension Funds Portfolio Size - IS Asset Management (YTL Million) 173 777 682 7.000 410 173 7.043 6.820 516 6.620 7.043 6.484 6.851 6.003 5.247 5.247 Pension Funds Total 967 860 516 174 2005 2006 2007 2008/Q2 Source: IS Investment Asset Management - the ascending business of the markets

  11. INTERNATIONAL CAPITAL MARKETS Fixed Income & Equity - (USD Million) Derivative - (# of Contracts) 774 33% 139 172.679 469% 7.532 6.108 Equity 30.336 Fixed Income 2007/Q2 2008/Q2 2007/Q2 2008/Q2 Source: Is Investment Source: IS Investment Fixed income & equity trading volume reached USD 8.3 bn from USD 6.2 bn surging 33% with respect to the same period of 2007, while performing 172.679 derivative contracts which mainly comes fromour e-trading platform;TradeMaster

  12. CORPORATE FINANCE M&As Size (USD Million) 1.911 341 2.097 A remarkable performance 708 34.9 38.9 90.4 2007/Q2 2008/Q2 Source: IS Investment 2008 - continue to be the year of M&A rather than public offerings

  13. ABOUT US OVERVIEW OF CAPITAL MARKETS OUR PERFORMANCE FINANCIAL RESULTS A NEW PRODUCT - EXPECTATIONS FOR THE REST OF THE YEAR

  14. MAIN FINANCIAL FIGURES IS Investment 2007/Q2 2008/Q1 2008/Q2 YoY ▲% QoQ ▲% YTL (000) Total Assets 1.013.102 -15 1.494.691 1.288.686 27 241.838 0 Shareholders’ Equity 221.083 241.923 9 Net Profit 86 9.876 7.546 18.334 143 Net Profit (Declared to the tax authority) 2 12.308 2.105 12.589 498 Consolidated Net Profit Total assets coincide with one third of the whole sector *IS Private Equity is started to be consolidated to our financials with its book value as of 2008Q2 in respect of the change in our accounting policy.

  15. CONSOLIDATION EFFECT 2008Q1 (YTL 000) 2008Q2 (YTL 000) IS Investment profit is in line with expectations and subsidiaries are expected to perform a better consolidation in 2008/Q3 *IS Private Equity is started to be consolidated to our financials with its book value as of 2008Q2 in respect of the change in our accounting policy. **Dividend elimination on operations with IS Investment Trust.

  16. ISE PERFORMANCE OF OUR SUBSIDIARIES Performance of ISE-100 Index (2008/Q2) ISE-100 IS Investment Trust IS Private Equity The smoothed price performance of our subsidiaries expected be better in 2008/Q3

  17. P/E and P/BV – IS INVESTMENT 2007 2008Q1 2008Q2 P/E 8,45 5,23 4,56 P/BV 1,33 0,77 0,73

  18. ABOUT US OVERVIEW OF CAPITAL MARKETS OUR PERFORMANCE FINANCIAL RESULTS A NEW PRODUCT - EXPECTATIONS FOR THE REST OF THE YEAR

  19. A NEW PRODUCT: IBOXX TURKEY BENCHMARK BOND ETF IS Investment’s second ETF offered to public and started to be traded on the ISE after ISDJE • The Fund provides investors with the opportunity of trading during the stock market hours, high liquidity and transparency. • Longer term issues are set to be dominant in the index and increase the fund’s convexity. • The fund portfolio is adjusted with the arrival of new issues, so investors possess continuously the longest six zero-coupon DGDS. • Fund shares can be subject to borrowing and lending transactions. Lending fund shares will earn investors additional income. Aims to offer exposure to the six longest zero-coupon Domestic Government Debt Securities (DGDS)

  20. EXPECTATIONS FOR THE REST OF THE YEAR • Consolidation effect of subsidiaries turned to be positive. • IS Private Equity is started to be consolidated to our financials with its book value. • Single stock futures are on the way, waiting for CMB’s approval. • Our Hedge Fund is registered to CMB and expected to be launched in Autumn with an effective risk managenent system. • Public offerings are still on the pipeline, depending on the market conditions. • Trading foreign securities continue to boom. • ISMEN shares owned by foreign investors reached to 57,21% as of 2008Q2, while it was 48% in the same period of 2007.

  21. INVESTOR RELATIONS Mr. Mert Erdoğmuş Assistant General Manager Phone : +90 0212 350 24 12 Fax: +90 0212 350 20 01 E-mail : merdogmus@isyatirim.com.tr 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.isinvestment.com/wwa_ir.aspx Mr. Ozan Altan Senior Associate Phone : +90 0212 350 28 72 Fax : +90 0212 350 20 01 E-mail : oaltan@isyatirim.com.tr

  22. The information in this report is prepared by “IS YATIRIM MENKUL DEGERLER A.S.” (İş 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 reportcause 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

  23. isyatirim.com.tr isinvestment.com IS INVESTMENT

  24. Performance & Financial Results 2008-Q1 İş Yatırım Menkul Değerler A.Ş. Ocak 2005 June 2008

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