1. İş Yatırım Menkul Değerler A.Ş. Ocak 2005 PERFORMANCE & FINANCIAL RESULTS 2008 April 8, 2009

2. ABOUT US OVERVIEW OF CAPITAL MARKETS OUR PERFORMANCE FINANCIAL RESULTS EXPECTATIONS FOR THE 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 HOUSE - ISE The leading investment house in Turkey and the investment arm of IS Bank FITCH: “AAA(tur)”

4. CREDIT CREDIT RATING - ‘AAA(tur)’ Fitch Ratings has affirmed IS Investment’s national long-term credit rating of 'AAA(tur)‘ with stable outlook ‘AAA(tur)’

5. ONCE AGAIN…BEST EQUITY HOUSE IN TURKEY IS Investment - once again - rewarded as the “Best Equity House in Turkey”

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

7. 7 TURKISH CAPITAL MARKETS Equity Market Volume (TL Billion) 20072008 Derivatives Market Volume (TL Billion) 20072008 20072008 Bills & Bonds Market Volume (TL Billion) 3,5% Derivatives Market – Continue to grow impressively Eurobond Volume (TL Billion) 2008 Volatility hit the Eurobond market 2007 233.5 415.9 775,4 665,2 722.9 598.7 -14,2% 78,1% -17,2% Global crisis affected the Equity Market B & B Market shrinked due to the shift on investor’s mind -19,6% 64,2 51,6

8. 8 ASSET MANAGEMENT 21.4 144.1 913 3.677 25.010 Asset Management (USD Million) Stable growth continues on the pension fund side despite the turmoil 20062007 Source: www.tspakb.org.tr Pension Funds Total 2008 20.271 29.574 20.895 2.048 3.518 4.193 Pension Funds portfolio size increased 19,2% with respect to 2007

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

10. 10 LEADER IN THE MARKETS Equity Market - (TL Billion) More market share, stronger leadership Derivative Market - (TL Billion) Still continue to be the uncontested leadership Eurobond Market – (TL Billion) 2008/Q3 2008 Nominal volume increase on Eurobond transactions Bills&Bonds Market - (TL Billion) 20072008 Increasing market share 20072008 20072008 3.0 3.3 6,4% 49.1 44,0 6,6% 6,3% 14.2 16.6 14,1% 11,8% 39.9 17,1% 56.9 13,7% 7,1% -10,2% 42,6% 10% 16,9%

11. MARKET RANKS- EQUITY

12. MARKET RANKS - DERIVATIVES

13. 13 ASSETS UNDER MANAGEMENT AuM - IS Asset Management & IS Investment (USD Million) Although AuM size did not change and size of pension funds increased 9,1% in nominal terms with respect to Q32008, we see the negative currency effect on the values while leading the market Mutual Funds portfolio size represent 23% of the market 173 7.043 2006 Source: IS Investment Pension Funds Total Pension Funds portfolio size represent 19,2% of the total pension funds 20072008 3.708 5.799 4.800 364 731805

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

15. MAIN FINANCIAL FIGURES* IS Investment TL (000) 20082008/Q3 YoY ▲% Total Assets 1.482.839 1.444.069 19,5 Shareholders’ Equity272.689266.19011,9 Derivatives and asset management are the main revenues for the profit while the commission revenues excluding corporate finance, displayed a better performance when compared to 2007 Net Profit 36.811 44.70516,5 QoQ ▲% 2,7 2,4 21,4 2007 1.240.709 38.383 243.595 *Consolidated

16. 16 PROPOSED DISTRIBUTION OF PROFIT - 2008 IS Investment will propose AGM to distribute the 30% of the attributable profit as cash dividend(TL 12.9 mn) in parallel with the “Dividend Policy” of the company Is Investment’s Board of Directors stated the company’s dividend policy as distributing -at least- 30% of the attributable profit as in cash and/or bonus shares

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

18. EXPECTATIONS FOR 2009  Continue to benefit from the strong equity and cash.  Belated consolidation is happening in the sector. Number of the brokerage houses will be lower in 2009.  Our Maslak Branch and Suadiye Liaison Office up and running in Istanbul despite the consolidation.  We target to increase our market share in 2009 to clinch our uncontested leadership, first signs are approving this tendency.  Single stock futures are still on the way, waiting for CMB’s approval.  Extending Prime Brokerage service to newcoming Asset Management Companies.  Trading foreign securities continue to boom, new products and instruments are on the pipeline.  Our youngest subsidiary Maxis Securities is enlarging its operations.

19. 19 INVESTOR RELATIONS Mert Erdoğmuş Assistant General Manager Phone : +90 0212 350 24 12 Fax : +90 0212 350 20 01 E-mail : merdogmus@isinvestment.com Ozan Altan Vice President Phone: +90 0212 350 28 72 Fax: +90 0212 350 28 73 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 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