ATA INVEST ATA INVEST PROFILEPROFILE

New York - Istanbul - Dubai

November 2007

PART IPART I

Overview of Ata Finance Group & Ata InvestOverview of Ata Finance Group & Ata Invest

3

Overview / Ata Finance Group

There are four financial services companies under Ata Finance Group umbrella..

Controlling parent, focused on investment banking and wealth management.

Online Brokerage, focused on Retail Investors

Asset Management, focused on Retail and Pension Fund Management

Closed-end Fund Management (Listed on ISE)

The first “Turkish Investment Banking” operation in Dubai 

4

Ata Invest / International Network

New York - USA

Established in 1996 via Agency with AGC

Focus : Equity Brokerage & Private Placement

Client Base : End Clients

Coverage : North America

Istanbul - Turkey

Established in 1991 via HQ Office

Focus : Equity Brokerage & Financial Advisory

Client Base : Brokers and End Clients

Coverage : United Kingdom

Dubai - UAE

Established in 2006 full subsidiary of Ata Invest

Focus : Advisory

Client Base : End Clients

Coverage : Gulf cooperation Council Members

Frankfurt - Germany

Established in 2006 with Sal Oppenheim

Focus : Equity Brokerage & Private Placement

Client Base : End Clients

Coverage : Continental Europe

5

Overview / Ata Invest – Business Model

Ata Invest completed the spin-off of its retail distribution platform and asset management business units and re-defined its business: Wealth Management and Investment Banking.

Until 2001...

Full-service brokerage house

2001 and onwards...

Wealth management & Investment Banking

Customer Customer NeedsNeeds

Services:

• Equity brokerage (local & international)

• Fixed income securities trading

• Mutual funds management

• Corporate finance

• Private equity

• Research

Services:

• Wealth Management to high-net-worth investors

• Investment Banking to local and international corporate clients

• Customer sophistication

• Convergence in financial services

• Higher efficiency and better service through segmentation and specialization

• Alternative corporate advisory services

Strategic alliances established:

• Imperial College, London

• IBS Research & Consultancy, Istanbul

• TicaretNet, Istanbul (Group company)

6

Overview / Ata Online – Business Model

Ata Online is a “one-stop shop” for financial services needs, as a part of the Multi Channel Offering strategy of Ata Finance Group. These services, some backed by strategic alliances, are available via Internet, call center and IVR.

ATA ONLINE

Core CompetenciesCore Competencies

Customer Customer NeedsNeeds

Strategic Strategic AlliancesAlliances

• Electronic Bill Payment

• Credit Card

• Insurance

• Tax Advice

• 3rd party research

• Business, content

• Brokerage 1st online broker in Turkey providing integrated financial services International equity trading through Instinet (postponed)

• Asset Management / Distribution

1st non-bank fund manager Fund market coming soon

• AIG Insurance

• Datascope

• Garanti

• Knight Securities

• Taylor Nelson Research (TNS)

• Yurtiçi Kargo

7

Core competencies developed:

• Proven Track Record

• Solid Performance

• Wide Range of Services

• Part of a Multi Channel Network

• Backed by Professional Research

• Ready & Proven Technology Infrastructure

• Business Excellence

Overview / Ata Asset Management – Business Model

Ata Invest spun off its asset management business unit in early 2001 in order to better meet customer needs and to exploit new opportunities of private pension funds system.

Customer needs:

• Transparency

• Wide Range of Service

• Prudence

• Professional Research

• Customized Reports

Strategic alliances established:

• Isvicre Insurance (1993 - 2000)

• AIG Insurance (1999 - to date)

• Koç-Allianz Insurance (2000 - 2002)

• Ankara Pension (2003- to date)

Until 2001...

A family of funds established and managed under Ata Invest

2001 and onwards...

Product diversification and new value-add services under a

newco

Customer Customer NeedsNeeds

Current Portfolio of Open-end Mutual Funds in the

Market

International FundsInternational Funds

Offshore FundsOffshore Funds

Private Label FundsPrivate Label Funds

Financial Financial ConsultancyConsultancy

DiscretionarDiscretionary Portfolio y Portfolio

ManagemenManagementt

Mutual Mutual Fund Fund

ManagemenManagementt

Pension Pension Fund Fund

ManagemenManagementt

Pro

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div

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ificati

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New

valu

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serv

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PART IIPART II

Investment Banking (IB) Capability of ATA InvestInvestment Banking (IB) Capability of ATA Invest

9

IB Capability of Ata Invest / Ata Invest Services

Private Equity

Consultancy

Public Offerings

Private Placement

M&A

Privatization

Real Estate

Convertible Bonds

Mezzanine Finance

Financial AdvisoryEquity Capital Markets Debt Capital Markets

Investment Banking Capability through 13 years of consistent operations, continuity of senior management, focused approach and customized market solutions (hence the success of Ata Private Equity)

Institutional, macro economic, industrial and corporates Research Capability through 15 years of consistent operations

Excellent Relationships with State (Privatization Administration, Capital Markets Board, Treasury), Leading Corporates (Alliances and JVs) and International institutional/financial investors

Corporate Bond

Real Estate

Since 1994, Ata Invest has;

• Underwritten and distributed the shares of 60+ companies via IPOs & SPOs,

• Structured, executed and managed several private placements.

Since 1994, Ata Invest has;

• Structured and executed a wide range of domestic & international M&A transactions,

• Taken part in 25% of all “Private Equity” projects as the first Turkish EVCA member,

• Provided services in several privatization projects on both "buy-side" and "sell-side”,

• Completed several consultancy projects, where the scope of work included feasibility studies, strategic planning, sectoral analysis, investor relations, project management and financial restructuring.

• Ata Invest provides a property solutions platform where real estate expertise is combined with the investment banking capability to create ‘one stop shopping’ opportunity to clients investing in Turkish Real Estate Market.

• Ata Invest’s strategic alliance brings its broad knowledge and experience in Turkish real estate market along with its strong local contacts.

• Ata Invest leverages on its strong position in Financial Advisory and Equity Capital Markets to produce customized solutions to customers with the inclusion of the new debt instruments in alliance with top quality institutions.

• Launched ‘Equity Linked Financing Services’ in alliance with a major Partner,

• Will launch ‘Corporate Bonds’ financing in 2007 in alliance with a major Partner,

• will launch ‘Private Mezzanine’ financing services in 2007 in alliance with a Mezzanine Fund.

10

IB Capability of Ata Invest / Private Equity

Sparx-Nomura

Sell-Side Advisory

1995

Sell-Side Advisory

1997

Safron Advisors

Buy-Side Advisory

1998

Buy-Side Advisory

1999

Accelerated Book-Building

2004

Accelerated Book-Building

2006

AIG Blue Voyage Fund

Strategic Advisor

2000 - 2006

Sell-Side Advisory

2000

Sell-side Advisory

Pending

Project

“Mortar-ETI”

Buy-side Advisory

Pending

Project

“Bazaar”

11

Buy-side Advisory

2006

Buy-side Advisory

2006

Buy-side Advisory

2000

IB Capability of Ata Invest / Mergers & Acquisitions

Sell-side Advisory

1995

Sell-side Advisory

2000

Buy-side Advisory

2005

Sell-side Advisory

2004

Buy-side Advisory

2005

Buy-side Advisory

2007

Sell-side Advisory

2007

Buy-side Advisory

2007

Buy -side Advisory

2007

Project Hittite

Project Mattise

Buy-side Advisory

2007

Project Topkapi

Buy-side Advisory

2006

12

IB Capability of Ata Invest / Privatization Advisory

Buy-Side Advisory

1995-1997

Sell-Side Advisory

1998-2003

ÇAYCUMAÇAYCUMA

Sell-Side Advisory

1998-2003

BOLUBOLU

Sell-Side Advisory

1998-2003

AFYONAFYON

Sell-Side Advisory

1998-2003

BALIKESİRBALIKESİR

Sell-Side Advisory

1998-2003

AKSUAKSU

Sell-Side Advisory

1998-2003

İZMİTİZMİT

Sell-Side Advisory

1998-2003

KASTAMONUKASTAMONU

Sell-Side Advisory

1998-2003

DALAMANDALAMAN

Sell-Side Advisory

1998-2003

AKDENİZAKDENİZ

Buy-Side Advisory

2005

Buy-Side Advisory

2005

13

IB Capability of Ata Invest / Consultancy

1995-2002 1997-2000 1998 1998

1998-2002 1999 2000 2003

2004 2006 Pending

Project “Monet”

2007

14

IB Capability of Ata Invest / Public Offerings Pre-2000

1994 1995 1995 1995 1996 1997 1998

1994 1995 1995 1996 1997 1997 1998

1995 1995 1995 1996 1997 1998 1998

15

IB Capability of Ata Invest / Public Offerings 2000 – 2004

2000 2000 2000 2000 2004 2004

2000 2000 2000 2000 2004 2004

2000 2000 2000 2000 2004 2004

2000 2000 2000 2002 2004

16

IB Capability of Ata Invest / Public Offerings Post-2004

2006

2006

2006

2006

2005

2005

2005

20062005

2006

2006

2007

2007

2007

2007

2007

2007

2007

17

IB Capability of Ata Invest / Privatization – SPOs

SPO

1998

SPO

2006

SPO

2000

SPO

2000

SPO

2005

SPO

2004

Türkiye İş BankasıTürkiye İş Bankası

18

IB Capability of Ata Invest / Research

Ata Invest is one of the top local research houses...

According to AQ Research Ata Invest is;

No: 1 in 2005 in Turkish Mid Cap Recommendations

No: 1 in 2005 in Turkish Small Cap Recommendations

No: 1 in 2006 in Turkish Small Cap Recommendations

Product Diversity

32 reports of varying frequencies on key ISE companies and sectors, financial markets, macroeconomic and political developments.

Electronic Distribution

Bloomberg www.bloomberg.comMultex www.multex.comInternet Securities www.securities.comI/B/E/S International www.trapeze.net

Ata Invest‘s research reports can legally be distributed in the USA.

Ability to initate new sector coverage (ie: Software, Internet and Telecom)

BrokerOverall

Average RQNo of Recs

No of Highest

RQs

Rec Type

Ata Invest 26.87 12 3 Ab

EFG Istanbul 24.99 12 5 Ab

Raymond James 17.88 11 1 Ab

Smith Barney 15.33 6 2 Ab

TOP RQ BROKERS (MIDCAP): 5 ELIGIBLE

Source: European Midcaps Yearbook 2005 and European Smallcaps Yearbook 2007 published by AQ Research Ltd.

19

IB Capability of Ata Invest / Recent Conferences

17 December 2006

• Organized by Ata Invest

• Participants were 6 of the biggest companies in Turkey and also Privatization Administration

ParticipantsParticipants

Ali Babacan, Minister of State for Economic Affairs

Metin Kilci, President of Privatization Administration

Erdoğan Bayraktar, President of Housing Development Administration

20

IB Capability of Ata Invest / Recent Conferences

• Organized by Ata Invest & Auerbach Grayson

• Participants were 12 of the biggest companies in Turkey.

Participant CompaniesParticipant Companies

TURKISH INVESTOR CONFERENCE 2006 New York (October 30-31)

BANKING ON TURKEY 2006 London (October 18)

“Banking on Turkey” conference, organized by İşbank, Ata Invest , DEİK, The Banker, Foreign Direct Investment and Financial,

SpeakersSpeakers• Ali Babacan, Minister of State for Economic Affairs

• İbrahim Çanakçı, Undersecretariat of Treasury

• Tevfik Bilgin, Chairman, Banking Regulation and Supervisory Agency

• Doğan Cansızlar, Chairman,Capital Markets Board of Turkey

• Kadir Topbaş, Mayor of Istanbul Metropolitan Municipality

• Aykut Demiray, Deputy CEO, IS BANK

• François Gamet, Director Energy Finance, Standard Bank Plc

• Mehmet Sami, Executive Board Member, Ata Invest

• Murat Özgen, General Manager, Is Venture Capital

• Metin Mansur, Chairman of DEIK/Turkish British Business Council

• Mehmet Şimşek, Head of Fixed Income Strategy&Economics Research for Emerging EMEA, Merrill Lynch

• David Brewer, Alderman,Lord Mayor of the City of London

• Yolanda Courtines, Vice President, JP Morgan

• Metin Ar, Predident and CEO,Garanti Securities

21

IB Capability of Ata Invest / Conferences & Roadshows

Recent Individual Roadshows & Private Placements:Recent Individual Roadshows & Private Placements:

January 2005

January 2005 1997-2007

ATAATAAnnualAnnual

StrategyStrategyRoadshowRoadshow

October 2005

March 2005

May2006

May 2006

TURCASTURCAS

Organized by Ata Invest & Auerbach Grayson

Held in New York City on November 7th & 8th, 2005

Representing 20% of ISE Mcap

Meeting with nearly 40 institutional Investors (combined AUM of 2.5 Trillion $)

New York - Istanbul - Dubai

www.atainvest.com

Address : Emirhan Cad. No: 145/A Atakule Kat: 11 34349 Balmumcu İstanbul

Tel : +90-212 310 6250

Fax : +90-212 310 6259

Address : Emirates Towers Level 41 Sheikh Zayed Road Dubai U.A.E

Tel : +971 50 348 5575

Address : 25 West 45th Street New York NY 10036 USA

Tel : 1-212-557 4444

New YorkAuerbach Grayson & Company

İstanbul Dubai