Merger Update

RNS Number:9736P
Turk Ekonomi Bankasi A.S.
19 September 2003


Name of the Company        :   Turk Ekonomi Bankasi A.S. (TEB)
Address                    :   Meclisi Mebusan Caddesi, 35 80040 Findikli/Istanbul
Telephone                  :   [phone]
Fax                        :   [phone]





                                                    Istanbul, September 19, 2003





We were notified by our affiliate, TEB Portfoy Yonetimi A.S., that the General
Assembly of TEB Portfoy Yonetimi A.S. held a meeting on September 19, 2003 and
authorized its Board of Directors to initiate transactions for a possible merger
between TEB Portfoy Yonetimi A.S. and ABN AMRO Portfoy Yonetimi Anonim Sirketi.









We declare that the foregoing explanations are 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 and that we are
responsible for this explanation.












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