RNS Number:0949T
Turk Ekonomi Bankasi A.S.
10 December 2003


Name of the Company        :   Turk Ekonomi Bankasi A.S. (TEB)
Address                    :   Meclisi Mebusan Caddesi, 35 80040 Findikli/Istanbul
Telephone                  :   +90-212-251 21 21
Fax                        :   +90-212-249 65 68





                                                     Istanbul, December 10, 2003







The Board of Directors of Turk Ekonomi Bankasi (TEB) has reached, unanimously,
the following resolutions at its meeting at December 10, 2003.



a) The 50% share of the property at the address of Meclis-i Mebusan Cad. No:35
Findikli, that is fully owned and used as Head Office building by TEB, will be
sold to TEB Sigorta A.S. at a price of TL3,192,500,000,000.-. The sale price is
based on the expertise report of Turyap Gayrimenkul Degerlendirme A.S., which is
one of the expertise companies listed in the Regulation Related to Real Estate
Investment Companies Series VI, No. 7 of the CMB, under their evaluation of
TL6,385,000,000,000.- for the mentioned property. The building is registered at
Istanbul, Beyoglu ilcesi, Purtelashasan Mahallesi, Mebusan Caddesi, Ysmail
Dumbullu Sokagi, Narli Cykmazi Mevkii, Section 135, Piece 32, Plot 42 as
commercial property and has an area of 430.26 m2. The proceeds from the sale
will be collected in cash at the time of the sale and the notification of the
resolution will be sent to ISE, CMB and BRSA. Any two of Aype Pynar ERTEM, Ahmet
ERGYN and Hayrettin YURDAKUL have been authorized, with joint signatures, to
conclude the sale at the Registerate of Property on behalf of our Bank.



b)Out of total sales profit of TL2,675,219,043,939.-, TL2,675,000,000,000.- ,
will be used in the increase of the paid-in capital of Turk Ekonomi Bankasi to
TL57,800,000,000,000.- from 55,125,000,000,000.- within the limits of
TL100,000,000,000,000.- registered capital and the management of the Bank has
been authorized to conclude the transaction.





We hereby declare that the foregoing explanation is in accordance with the
principles set forth in the Regulation Series VIII, No. 39 of the CMB; that it
reflects all information we have received in connection with this matter, that
the information is in accordance with our books and records, that we have spent
all required efforts to obtain accurate and complete information regarding this
matter and that we are responsible for this explanation.










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