1. İş Yatırım Menkul Değerler A.Ş. Ocak 2005 PERFORMANCE & FINANCIAL RESULTS 2008-Q1 June 19, 2008

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

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

4. 4 ABOUT US OVERVIEW OF TURKISH CAPITAL MARKETS OUR PERFORMANCE FINANCIAL RESULTS EXPECTATIONS FOR THE REST OF THE YEAR

5. 5 PERFORMANCE OF TURKISH CAPITAL MARKETS Equity Market (YTL Billion) 2007/Q12008/Q1 Derivative Market (YTL Billion) 2007/Q12008/Q1 Despite the fluctuation in international markets, equity market increased its trading volume 2007/Q12008/Q1 Bills & Bonds Market (YTL Billion) 3,5% Derivative market’s performance beyond the expectations Eurobonds (YTL Billion) 2008/Q1 16.4 The trading volume of Turkish Eurobonds in 2008/Q1 as YTL 16.4 bn B&B Market displayed almost the same performance 193.3 175.1 10,4% 117.6 29.2 302% 33.2 33.5

6. 6 ASSET MANAGEMENT 21.4 144.1 913 2.048 3.677 25.010 29.268 Pension Funds* (USD Million) Portfolio size of pension funds continue to confirm our claims to be the locomotive of fund business in near future, reaching USD 4.131 mn. despite the weaker performance of the markets 20062007 Source: www.tspakb.org.tr 2008/05 2.048 3.813 4.131

7. 7 ABOUT US OVERVIEW OF CAPITAL MARKETS OUR PERFORMANCE FINANCIAL RESULTS EXPECTATIONS FOR THE REST OF THE YEAR

8. 8 LEADER IN THE MARKETS Equity Markets - IS Investment (YTL Billion) 2007/Q12008/Q1 Despite rising trading volumes and international newcomers, we maintain market leadership 2007/Q12008/Q1 Derivative Markets - IS Investment (YTL Billion) Our derivative market trading volume almost four-fold the same period of 2007 - Unconstent leadership Eurobond Market - IS Investment (YTL Million) 2007/Q12008/Q1 Our trading volume growth in 2008/Q1 confirms our clear market leadership among the brokerage houses 6,18% 6,31% 12.2 10.8 12,9% 15,94% 16,73% 18.7 4.8 Bills&Bonds Market - IS Investment (YTL Billion) 2007/Q12008/Q1 23,91% 14,64% 8.0 4.9 We recaptured our leadership position among the brokerage houses in the market 289% 63% 1.620 663 9,90% 144%

9. 9 ASSET UNDER MANAGEMENT AuM & Pension Funds Portfolio Size - IS Asset Management (YTL Million) We believe that asset management business is the ascending business of the markets AuM & Pension Funds portfolio size represent 19,6% and 18,7% of the funds market respectively 173 7.043 6.003 410 516 5.247 682 6.484 777 6.620 7.043 173 200520062007/H12007/Q32007 Source: Is Investment 2008/Q1 173 516 682 777 860 902 7.043 5.247 6.484 6.620 6.820 6.950

10. 10 INTERNATIONAL CAPITAL MARKETS Fixed Income & Equity - IS Investment (USD Million) 2007/Q12008/Q1 Fixed income & equity trading volume reached USD 2.3 bn from USD 750 mn surging 206% with respect to the same period of 2007, while performing 48.590 derivative contracts which mainly comes from our e-trading platform; TradeMaster International Source: Is Investment 2.154 114 663 80 Derivative - IS Investment (# of Contracts) 2007/Q12008/Q1 206% 408% 9.553 48.590 TMI Equity Fixed Income

11. 11 CORPORATE FINANCE 1.911 708 M&As Size (USD Million) - IS Investment 341 34.9 2008 is the year of M&A rather than public offerings 2007/Q12008/Q1 38.9 Source: Is Investment 10.8 1.729 A remarkable performance

12. 12 ABOUT US OVERVIEW OF CAPITAL MARKETS OUR PERFORMANCE FINANCIAL RESULTS EXPECTATIONS FOR THE REST OF THE YEAR

13. 13 MAIN FINANCIAL FIGURES IS Investment YTL (000) 2007/Q12008/Q1 YoY ▲% Total Assets 1.232.285 1.482.46020 Shareholders’ Equity235.172229.647-2* Total assets coincide with one third of the whole sector *Implementation of the new IFRS methodology caused a decrease in Shareholders’ equity due to acqusition of IS Asset Management Net Profit (Declared to the tax authority) Consolidated Net Profit 7.547 6.727 12 -1.4974.786 n.m.

14. 14 CONSOLIDATION EFFECT Profit is in line with expectations except for the consolidation and the marked to market effect of subsidiaries IS Investment Only (Declared to the Tax Authority) 7.547 Consolidation Effect IS Asset Management IS Inv.Trust 1.132 -3.492 Marked to Market Effect IS Private Equity -4.135 Other-2.549 Consolidated Net Profit-1.497 (YTL 000)

15. 15 ISE PERFORMANCE OF OUR SUBSIDIARIES Price performance of subsidiaries has smoothed since 2008/Q1 Performance of ISE-100 Index (2008/Q1) ISE-100 IS Investment Trust IS Private Equity

16. 16 OPERATING EXPENSES YTL (000) 2007/Q1 2007/Q4 2008Q1 QoQ ▲ YoY ▲ General Administrative Exp.10.055 18.231 15.944 -1058 Marketing and Dist.Exp 1.236 3.241 4.488 38263 Other 1.132 - 1.536 35 Total 12.423 21.472 21.968 276 Increase in operating expenses stemmed from consolidation effect of IS Asset Management

17. 17 ABOUT US OVERVIEW OF CAPITAL MARKETS OUR PERFORMANCE EXPECTATIONS FOR THE REST OF THE YEAR FINANCIAL RESULTS

18. 18 EXPECTATIONS FOR THE REST OF THE YEAR  Consolidation effect of subsidiaries is expected to be better  Single stock futures are on the way  We are about to launch two new products  Public offerings are on the pipeline depending on the market conditions  Private Equity Company announced two new exits  Trading foreign securities is booming  Maxis Securities is up and running  Our sixth branch “Yesilkoy-Istanbul” is in operation

19. 19 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 Mr. Ozan Altan Senior Associate Phone: +90 0212 350 28 72 Fax: +90 0212 350 20 01 E-mail: oaltan@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

20. 20 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 report cause 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.

21. 21 IS INVESTMENT isyatirim.com.tr isinvestment.com

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