Misunderstandings have been observed in the public in relation to the news item with the title "Billion-Lira Competition on Banks," which was published today (02.11.2012) in a daily newspaper, and a press release was deemed necessary to eliminate these misunderstandings.

On 02.11.2012, the Competition Board has decided to initiate an investigation concerning 12 banks. This investigation is conducted within the Turkish Competition Authority in accordance with the procedure specified by the Act no 4054 on the Protection of Competition. Currently, the investigation is at the stage of taking written pleas from the banks under investigation and the relevant process is still ongoing.

Thus, there is currently no decision taken by the Competition Board, which is the decision body of the Turkish Competition Authority. The decision that shall be given on the sobject by the Competition Board following the conclusion of the written pleas and hearing processes specified by the Act no 4054 will be announced from the website of the Authority.

Respectfully submitted for the information of the public.