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Türk Telekom public offering on the Garanti Online and Mobile branches

The public offering of shares in Türk Telekomünikasyon AŞ (Türk Telekom) is being undertaken by a consortium in which Garanti Securities is the leader in Turkey. After the initial bookbuilding period scheduled take place on 28-29-30 April 2008, confirmed subscriptions will be accepted on 7-8-9 May 2008.

Company offering information

Company capital (nominal) TRL 3,500,000,000
Public offering price range (above solicitation base price): TRL 3.90-4.70
Company valuation: TRL 13.65-16.45 billion
Nominal value of public offering (15% of the company): TRL 525,000,000
Public offering disclosure: Sell-off of 15 points of the Treasury-owned 45% stake.
Total valuation of public offering: TRL 2.05-2.47 billion
Nominal value of allocation reserved for TT/PTT employees and small investors (30%): TRL 157,500,000
Valuation of allocation reserved for TT/PTT employees and small investors: TRL 614-740 million
Nominal value of allocation reserved for major private investors (3%): TRL 15,750,000
Valuation of allocation reserved for major private investors: TRL 61-74 million
Nominal value of allocation reserved for domestic institutional investors (2%): TRL 10,500,000
Valuation of allocation reserved for domestic institutional investors: TRL 41-49 million
Nominal value of secondary sale option (15% of public offering): TRL 78,750,000
Valuation of secondary sale option: TRL 307-370 million

Investors may take part in the public offering by posting money-market fund shares, government debt securities, or foreign currency as collateral or by giving their credit card details.

You may submit your confirmed Türk Telekom subscription requests on 7-8-9 May 2008 from the Garanti Internet Banking (Shares > Public offerings) or from the Garanti Mobile Banking (Investments > Public offerings).

* GarantiBank cannot be held responsible for any direct or indirect losses that may be sustained as a result of making use of any of the information, evaluations, interpretations, statistics, values, or appraisals that appear in this document.