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To: Gutterball who wrote (10)1/13/2000 12:49:00 PM
From: Gutterball   of 101
 
Turkcell, Sonera and the Cukurova Group Establishing a Holding Company to own Operator Stakes and New Businesses

ISTANBUL, Turkey--(BUSINESS WIRE)--Jan. 13, 2000--Turkey's leading mobile phone operator Turkcell Iletisim Hizmetleri A.S., the Turkish Cukurova Group and Sonera Corporation will establish a holding company, Fintur Holding B.V.. Fintur Holding B.V. is established to develop and own Turkcell's stakes in GSM operators outside Turkey, and some companies that will be purchased from the Cukurova Group. The arrangement allows the business operations of these companies to be developed and financed independently.

The shareholders of Fintur are Turkcell, Cukurova Group and Sonera. The Cukurova Group is the largest and Sonera is the second largest shareholder of Turkcell Iletisim Hizmetleri A.S.

Fintur will purchase Turkcell's stakes in some of Turkcell subsidiaries operating in Turkey and abroad. The shareowners of Fintur expect the arrangement to be closed by the end of the first half of year 2000. The details of the companies and businesses transferred to Fintur will be disclosed at this point.

Combining the businesses will provide a basis for developing Turkcell's digital TV, mobile and other portal services, and mobile communications and Internet services for companies.

Turkcell is the leading GSM operator in Turkey and one of the largest operators in Europe. With more than 5.5 million postpaid and prepaid customers, Turkcell provides high-quality wireless telephone services throughout Turkey. Turkcell is awarded with ISO 9001 certificate for its quality management concept and service quality. Being the first ISO 9001 licensed GSM operators in Turkey, Turkcell also became the 9th (1) among 400 GSM operators around the world to receive such a certificate.

(1) : GSM Association Sources.

For more information please refer to our web page : www.turkcell.com.tr

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