ALARKO GAYRİMENKUL YATIRIM ORTAKLIĞI A.Ş.

Alarko Real Estate Investment Company "AGMYO" was founded in July in 1996 by means of conversion of an Alarko company founded in 1978 into a Real Estate Investment Company. The first transaction performed by AGMYO was the sale of an office building with an area of 37,000 square meters to Osmanlı Bank in October 1996 with its shell and core works completed, which was added to the company's share capital as in-kind contribution. Following this first transaction, the Company has been carrying out its operations so far either by investing into the projects developed by Alarko Group of Companies, or by taking over the real estates of the group companies and deriving rental income from them.

Registered Capital:                      TL 150,000,000

Paid-up Capital:                            TL 64,400,000

Flee float rate:                              49%

Date of Initial Public Offering: 19-20 December 1996

Public offer price:                        TL 0.0041  (TL 4,100 )

The company's strategy is to invest, at an early stage, in the real estate projects being developed and ensure that its investors benefit from the high profit to be derived from the projects benefiting from tax exemption. The portfolio consists of various real properties including mainly the housing projects of Alarko Land Development Group. The Company aims to keep in close contact with Alarko Group of Companies in the development of projects, and shape the sales strategy and timing of the components included in its portfolio in the most appropriate manner.

In compliance with the provisions of the relevant CPM Communiqué, majority of the members of the Company's Board of Directors and senior management consist of the members of Alarko Group of Companies. All shares including those offered to the public offer equal rights in terms of the payment of dividends. The Company will determine its dividend distribution policy in consideration of its investments and growth and market development efforts in compliance with the Turkish Commercial Code, the provisions of the Company's Articles of Association and the CMB legislation.