Ownership Structure as of September 30, 2011

                                                                                                                       (TL)

Shareholder Amount   Share  
TEB HOLDİNG A.Ş. **

1,212.414.499,99

 55.00%  
BNP PARIBAS YATIRIMLAR HOLDİNG A.Ş.*

514.615.804,52

 23.34% 
BNP PARIBAS FORTIS YATIRIMLAR HOLDİNG A.Ş.*

376.583.806,60

17.08%  

PUBLIC SHAREHOLDERS

99.555.987,05

4.52%  

OTHER SHAREHOLDERS

1,219.901,84

0.06% 

  TOTAL

2.204.390.000,00

 100.00%  

* These companies are BNP Paribas Group Companies
** 50%-50% BNPP Fortis Yatırım Holding A.Ş.and Çolakoğlu Group Joint Venture