1. PERFORMANCE & FINANCIAL RESULTS – 9M09 November 12, 2009

2. Performance & Financial Results – 9M09 1 About Us Overview of Capital Markets Our Performance Financial Results Expectations for the Rest of the Year

3. About Us ActivitiesSubsidiaries 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 Macro economy 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 licensed 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 IS Group funds IS Investment Trust (Share: 29.1%) Turkeys leading Investment Trust IS Private Equity: (Share: 29%) Turkeys largest Private Equity Shareholder Structure

4. About Us Overview of Capital Markets Our Performance Financial Results Expectations for the Rest of the Year Performance & Financial Results – 9M09 3

5. Overview of Capital Markets Equity Market Volume (In TL Billion)Derivatives Market Volume (In TL Billion) 4 2008/92009/92008/92009/9 519 680 325 478 31% 47% Source:ISE Source:TurkDEX Equity and derivatives market exceeded the full-year of 2008

6. Overview of Capital Markets 5 2008/92009/9 499 649 30% Source:ISE Bills & Bonds Market Volume (In TL Billion) Lower interest rates and higher trading volume

7. Overview of Capital Markets Pension fund business is growing 6 2008/92009/9 24.9 5.8 29.8 8.5 Source:CMB Pension Funds Mutual Funds* Pension Funds grew 47% with respect to the same period of 2008 Asset Management ( In TL Billion) *A Type and B Type Funds.

8. About Us Overview of Capital Markets Our Performance Financial Results Expectations for the Rest of the Year Performance & Financial Results –9M09 7

9. Our Performance More Volume & Bigger Market Share Equity Market Volume and Market Share (In TL Billion) Derivatives Market Volume and Market Share (In TL Billion) 8 2008/92009/92008/92009/9 34.7 55.9 46.2 64.5 61% 39.6% Source:ISE Source:TurkDEX We increased our trading volume 61% annually, doubling the total market volume increase over the same period Sustained leadership 6.69% 8.21% 14.19% 13.48%

10. Our Performance 9 More buy and hold, less transaction 2008/92009/9 14.7 12.2 -16.8% Source:ISE 15.53% 11.63% *Among Brokerage Houses Bills & Bonds Market Volume and Market Share* (In TL Billion)

11. Our Performance AuM size reached TL 9.9 billion surging by 41.4% on annual basis, while pension funds and mutual funds registered 54.5% and 32% growth rates respectively 10 2008/92009/9 5.3 1.1 7.0 1.7 Source: IS Investment & IS Asset Management Pension Funds Mutual Funds** Pension Funds portfolio size represents 19.9% of the total pension funds AuM – IS Asset Management & IS Investment (In TL Billion)* * Other Funds: Portfolio size of TL 692 mn and TL 1.218 mn for other funds for the periods of 2008/9 and 2009/9 respectively. Mutual Funds portfolio size represents 23.5% of the market **A Type and B Type Funds.

12. About Us Overview of Capital Markets Our Performance Financial Results Expectations for the Rest of the Year Performance & Financial Results –9M09 11

13. Strong financial structure with enhanced profitability Financial Results Sound Performance 12 * Consolidated IS Investment* 31.12.2008 2008/92009/9 YoY TL (000) Total Assets1,482,839 1,444,0692,182,59051% Shareholders' Equity 272,689 266,190321,00821% Net Profit 44,705 36,81255,35650%

14. Financial Results Breakdown of Operating Revenues 13 Diversified Revenues

15. Financial Results Asset Management 14 2008Q22009Q12008Q12008Q32009Q32009Q2 Asset Management Commissions (In TL Million) We raised our management fees 60% on annual basis - We see positive effect of our prime brokerage services 2008/92009/9

16. Financial Results Price Performance 15 ISMEN Closing Price TL 10.11.200810.11.2009 P/E1.984.9 P/BV0.251.1 ISMENs price has increased 253% with respect to January 2, 2009. This upswing indicates 98% and 85% higher performance relative to ISE-100 Index and ISE Financial Index respectively 238%

17. About Us Overview of Capital Markets Our Performance Financial Results Expectations for the Rest of the Year Performance & Financial Results – 9M09 16

18. Expectations for the Rest of 2009 Dubai liaison office will be ready as of end of 2009. Feasibility study for new branches continues. We sealed our uncontested leadership with strong performance. New derivative instruments yet to come 17

19. Investor Relations 18 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.isinvestment.com/wwa_ir.aspx

20. 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. 19

21. IS Investment 20 İş Kuleleri Kule-2 Kat:12 HEAD OFFICE 34330 4. Levent İSTANBUL TURKEY Tel: +90212 350 20 00 Fax: +90212 350 20 01 Süleyman Seba Cd. No:44 B1 Blok D:10 Köybaşı Caddesi İskele Çıkmazı No: 6 AKARETLER34357 Akaretler İSTANBUL TURKEYYENİKÖY34464 Yeniköy İSTANBUL TURKEY BRANCHTel: +90212 326 87 00BRANCHTel: +90212 363 01 00 Fax: +90212 326 87 01 Fax: +90212 363 01 01 Tahran Cd. No:3/8 Havalimanı Kavşağı EGS Business Park ANKARA06700 Kavaklıdere ANKARA TURKEYYEŞİLKÖYB3 Blok No:470 BRANCHTel: +90312 455 26 50BRANCH34149 Yeşilköy İSTANBUL TURKEY Fax: +90312 466 60 62 Tel: +90212 463 20 00 Fax: +90212 463 20 01 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 01Fax: +77273 340509 Büyükdere Cd. MAXIS SECURITIES LTD MASLAKNurol Plaza No:71/168 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

22. PERFORMANCE & FINANCIAL RESULTS – 9M09 November 12, 2009