“Code No 5951 on Amendment of Code on Collection Procedure of Public Receivables and Other Certain Codes”, which was accepted by General Assembly of Grand National Assembly of Turkey on 28 January 2010, was promulgated in the Official Gazette dated 5 February 2010.

The amendments made to Act of Fees with this Code have been explained in our circular numbered 015 and dated 22 January 2010. There is no difference in terms of fixed fee amounts between the Code No 5951 promulgated in the Official Gazette and the text approved by the Planning and Budget Commission at their meeting held on 22 January 2010 which constitutes basis for our circular.

However, it has been detected that some amendments have been made to Temporary Article 2 of the Code in the General Assembly. Related article stipulates that difference fees that need to be paid for 2010 by the banks will be deemed to have been accrued as of the promulgation date of the Code and they must be paid within 1 month.

As the Code No 5951 was promulgated in the Official Gazette dated 5 February 2010, difference fee amounts that must be paid by the banks are deemed to have accrued as of 5 February 2010 and these fees must bepaid until 5 March 2010.

Similarly, in line with the aforementioned provision, fees pertaining to 2010 with regard to the documents of the branches out of free zones of all banks which have performed activities as of 5 February 2010 are also deemed to have accrued as of 5 February 2010 and these feesmust be paid until 5 March 2010.

On the other hand, pursuant to Temporary Article 2 of the Code No 5951, we are in the opinion that fee liability will not occur for the year 2010 for free zone branches of the banks.

Our explanations provided above include general information on the issue. No responsibility can be claimed against Ernst & Young and Kuzey YMM A.Ş. due to the implications arising from the context of this document or emerging with respect to its context.

Best Regards,

KUZEY YEMİNLİ MALİ MÜŞAVİRLİK A.Ş.

İhsan Akar