Merger Update

RNS Number:6799T
Turk Ekonomi Bankasi A.S.
26 December 2003


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



                                                     Istanbul, December 26, 2003

We were notified by our subsidiary, TEB Portfoy Yonetimi A.S. on December 26,
2003, that their shareholders and the shareholders of ABN AMRO Portfoy Yonetimi
A.S. have, on December 16, 2003, approved the Merger (Transfer) Agreement and
its attachments in connection with the proposed merger transaction, and on
December 19, 2003 such general assembly of shareholders' resolutions were
registered with the Trade Registry, and that our subsidiary was notified of such
registration on December 21, 2003.

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.




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

MSCFEDFDMSDSEIE