1. Investor Relations PERFORMANCE & FINANCIAL RESULTS – 2009H1 August 27, 2009

2. Investor Relations Performance & Financial Results – 2009H1 1 About Us Overview of Capital Markets Our Performance Financial Results Expectations for the Rest of the Year

3. Investor Relations About Us ActivitiesParticipations 2 Corporate Finance Public Offerings Mergers & Acquisitions Project Finance Privatization Advisory Strategic Planning Private Equity Asset Management Discretionary Portfolio Management Mutual Funds Management Private Funds Management Investment Advisory Individual Clients Corporate Clients Institutional Sales Research Macroeconomy Sector Research Company Analysis Fixed Income Securities Analysis Strategy Reports and Presentations Brokerage & Trading TL/FX Stocks TL/FX Treasury Bond/ Government Bond TL/FX Private Sector Bonds TL/FX Derivatives Maxis Securities: (Share: 100%) London headquartered B Group capital markets licenced subsidiary Camiş Investment: (Share: 99.79%) Turkeys one of the long-established brokerage houses IS Asset Management: (Share: 70%) Turkeys leading Portfolio Management Company managing İş Group funds IS Investment Trust (Share: 29.1%) Turkeys leading Investment Trust IS Private Equity: (Share: 29%) Turkeys largest Private Equity Shareholder Structure

4. Investor Relations About Us Overview of Capital Markets Our Performance Financial Results Expectations for the Rest of the Year Performance & Financial Results – 2009H1 3

5. Investor Relations Overview of Capital Markets Equity Market Volume (In TL Billion)Derivatives Market Volume (In TL Billion) 4 2008H12009H12008H12009H1 352 408 218 284 15.8% 30.4% Source:www.imkb.gov.tr Source:www.vob.org.tr Higher volume and better market performance in the first half of 2009

6. Investor Relations Overview of Capital Markets 5 2008H12009H1 332 429 29.1% Source:www.imkb.gov.tr Bills & Bonds Market Volume (In TL Billion) Lower interest rates and higher volume

7. Investor Relations Overview of Capital Markets Asset Management Remarkable growth continues on the pension fund side 6 2008H12009H1 24,439 5,167 28,347 7,672 Source:www.spk.gov.tr Pension Funds Mutual Funds* Pension Funds grew 48.5% with respect to the same period of 2008 Asset Management ( In TL Million) *A Type and B Type Funds.

8. Investor Relations About Us Overview of Capital Markets Our Performance Financial Results Expectations for the Rest of the Year Performance & Financial Results – 2009H1 7

9. Investor Relations Our Performance Equity Market Volume and Market Share (In TL Billion) Derivatives Market Volume and Market Share (In TL Billion) 8 2008H12009H12008H12009H1 21.7 32.9 33.0 33.3 52.1% Source:www.imkb.gov.tr Source:www.vob.org.tr Our trading volume increased 52.1% on annual basis, more than trippling the total market volume increase over the same period Sustained leadership 6.15% 8.08% 15.16% 11.72%

10. Investor Relations Our Performance 9 Continued to provide services in alternative markets tailored for the needs of our investors 2008H12009H1 10.7 7.6 -28.7% Source:www.imkb.gov.tr 17.38% 10.64% *Among Brokerage Houses Bills & Bonds Market Volume and Market Share* (In TL Billion)

11. Investor Relations Our Performance Assets Under Management AuM size reached TL 9 billion surging by 28.6% on annual basis, while pension funds and mutual funds registered 55.1% and 20.8% growth rates respectively. 10 2008H12009H1 5,300 967 6,400 1,500 Source:IS Investment Pension Funds Mutual Funds** Pension Funds portfolio size represents 19.5% of the total pension funds AuM – IS Asset Management & IS Investment (TL Million)* * Other Funds: Portfolio size of TL 733 mn and TL 1.011 mn for other funds for the periods of 2008H1 and 2009H1 respectively. Mutual Funds portfolio size represents 22.6% of the market **A Type and B Type Funds.

12. Investor Relations About Us Overview of Capital Markets Our Performance Financial Results Expectations for the Rest of the Year Performance & Financial Results – 2009H1 11

13. Investor Relations Robust financial perfomance Financial Results Main Financial Figures* 12 * Consolidatd IS Investment 31.12.2008 2008H12009H1 YoY TL (000) Total Assets1,482,839 1,288,6862,199,90070.71% Shareholders' Equity 272,689 241,923296,24422.45% Net Profit 44,705 12,58734,019170.27%

14. Investor Relations Financial Results Breakdown of Operating Revenues 13 Breakdown of Operating Revenues (TL 000)

15. Investor Relations Financial Results Asset Management 14 2008Q22009Q12008Q12008H12009H12009Q2 Asset Management Commissions TL(000) We raised our management fees 58.8% when compared to 2008H1, while total portfolio size of mutual and pension funds grew 21% - The positive effect of our prime brokerage services has yet started to be seen on revenues

16. Investor Relations Financial Results Price Performance 15 ISMEN Closing Price TL 25.08.200825.08.2009 ROE0.160.25 ISMENs price has increased more than 170% with respect to January 2, 2009 in addition to the high amount of cash dividend payment on May 4, 2009 A visible ROE expansion on the back of robust operating performance

17. Investor Relations Financial Results Dividend Policy 16 Is Investments Board of Directors declared the companys dividend policy as distributing at least 30% of the attributable profit as in cash and/or bonus shares

18. Investor Relations About Us Overview of Capital Markets Our Performance Financial Results Expectations for the Rest of the Year Performance & Financial Results – 2009H1 17

19. Investor Relations Expectations for the Rest of 2009 Our Maslak Branch and Suadiye liaison office are up and running in Istanbul despite the consolidation. We will be more active in international capital markets through our Dubai liaison office as of end of 2009. We keep our growing policy by openning new branches. We have increased our market share in 2009 to clinch our uncontested leadership, our market performance approved this tendency as of 2009H1. Single stock futures are expected to be seen in the last quarter of the year. Extending Prime Brokerage service to new coming Asset Management Companies. We have been assisting to establish new funds and intermediating for new funds. 18

20. Investor Relations 19 Mr. Mert Erdoğmuş Assistant General Manager Phone : +90 0212 350 24 12 Fax : +90 0212 350 20 01 E-mail : merdogmus@isinvestment.com Mr. Ozan Altan Vice President Phone: +90 0212 350 28 72 Fax: +90 0212 350 20 01 E-mail: oaltan@isinvestment.com 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.isinvestmentcom/w.wa_ir.aspx

21. Investor Relations Disclaimer The information in this report is prepared by IS YATIRIM MENKUL DEGERLER A.S. (IS 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. 20

22. Investor Relations IS Investment 21 İş Kuleleri Kule-2 Kat:12 HEAD OFFICE 34330 4. Levent İSTANBUL TURKEY Tel: +90212 350 20 00 Fax: +90212 350 20 01 Rüzgarlıbahçe Mevkii Kavacık Kavşağı Köybaşı Caddesi İskele Çıkmazı No: 6 KAVACIKSismer Plaza Kat:4YENİKÖY34464 Yeniköy İSTANBUL TURKEY AUXILIARY34805 Kavacık İSTANBUL TURKEYBRANCHTel: +90212 363 01 00 OFFICETel: +90216 538 14 00 Fax: +90212 363 01 01 Fax: +90216 538 14 01 Süleyman Seba Cd. No:44 B1 Blok D:10 Havalimanı Kavşağı EGS Business Park AKARETLER34357 Akaretler İSTANBUL TURKEYYEŞİLKÖYB3 Blok No:470 BRANCHTel: +90212 326 87 00BRANCH34149 Yeşilköy İSTANBUL TURKEY Fax: +90212 326 87 01 Tel: +90212 463 20 00 Fax: +90212 463 20 01 Tahran Cd. No:3/8 Yapı Kredi Plaza C Blok K: 9 Bölüm 25/B ANKARA06700 Kavaklıdere ANKARA TURKEYLEVENT34330 4. Levent İSTANBUL TURKEY BRANCHTel: +90312 455 26 50REP. OFFICETel: +90212 282 00 18 Fax: +90312 466 60 62 Fax: +90212 282 00 19 Akdeniz Cd. No:14 Birsel İş Merkezi D:501 Bağdat Cd. Kılıçoğlu Ap. No:451 K:1 D:4 İZMİR35210 Alsancak İZMİR TURKEYSUADİYE34740 Suadiye İSTANBUL BRANCHTel: +90232 488 90 00REP. OFFICETel: +90216 380 03 53 Fax: +90232 488 90 01 Fax: +90216 416 91 71 Fener Kalamış Cd. Jeltozbekova Street KALAMIŞTibaş-Belvü Sitesi A2 Blok D:3ALMA ATA97 Block A2 Floor:2 BRANCH34726 Fenerbahçe İSTANBUL TURKEYREP. OFFICE050051 ALMAATA KAZAKHSTAN Tel: +90216 542 72 00 Tel: +77012 234803 Fax: +90216 542 72 01 Fax: +77273 340509 Büyükdere Cd. MAXIS SECURITIES LTD MASLAKNurol Plaza No:71/16 8 Princes Street BRANCH34398 Maslak İSTANBULSUBSIDIARYLondon EC2R 8HL UNITED KINGDOM Tel: +90212 367 85 00 Tel: +44207 397 1431 Fax: +90212 367 85 01 Fax: +44207 726 2566

23. Investor Relations PERFORMANCE & FINANCIAL RESULTS – 2009H1 August 27, 2009