TURKCELL ILETISIM HIZMETLERI A.S. KEY FINANCIAL DATA(IFRS)

Turkcell has historically prepared and presented its financial statements on a consolidated basis in accordance with US GAAP in US dollars for purposes of reporting to the Securities and Exchange Commission (“SEC”) of USA. Beginning from the 2006 fiscal year, we have prepared our interim consolidated financial statements and will prepare our annual consolidated financial statements in accordance with International Financial Reporting Standards (“IFRS”).

(in millions of US Dollars, except number of shares, per share and magrin data)	Quarter Ended	Quarter Ended	Quarter Ended	12 months	12 months
	December 31,	September 30,	December 31,	December 31,	December 31,
	2006	2007	2007	2006	2007
Consolidated Statement of Operations Data
Revenues
Communication fees	1.128,9	1.642,3	1.706,1	4.406,7	5.976,9
Commission fees on betting business	38,9	40,0	65,2	172,4	181,3
Monthly fixed fees	15,8	13,9	14,8	57,6	54,8
Simcard sales	6,0	5,2	2,2	21,0	20,8
Call center revenues and other revenues	13,7	21,4	19,3	42,6	94,8
Total revenues	1.203,3	1.722,8	1.807,6	4.700,3	6.328,6
Direct cost of revenues	(662,0)	(799,9)	(849,2)	(2.627,9)	(3.103,4)
Gross profit	541,3	922,9	958,4	2.072,4	3.225,2
Administrative expenses	(29,2)	(56,9)	(89,1)	(154,9)	(252,8)
Selling & marketing  expenses	(211,8)	(296,9)	(328,0)	(827,5)	(1.138,2)
Other Operating Income / (Expense)	(0,4)	2,4	(21,3)	1,6	(14,7)
Operating profit before financing costs	299,9	571,5	520,0	1.091,6	1.819,5
Finance expense	(42,0)	(230,7)	(105,7)	(108,0)	(551,1)
Finance income	63,0	83,5	94,9	184,0	308,4
Share of profit of equity accounted investees	16,3	17,2	21,5	78,6	64,9
Income before taxes and minority interest	337,2	441,5	530,7	1.246,2	1.641,7
Income tax expense	(52,0)	(50,2)	(125,2)	(413,2)	(322,4)
Income before minority interest	285,2	391,3	405,5	833,0	1.319,3
Minority interest	4,4	9,9	(2,3)	42,5	30,9
Net income	289,6	401,2	403,2	875,5	1.350,2
Net income per share	0,131651	0,182358	0,183275	0,397951	0,613710
Other Financial Data
Gross margin	45%	54%	53%	44%	51%
EBITDA(*)	465,2	771,5	745,4	1.820,0	2.627,1
Capital expenditures	210,7	188,1	274,3	604,8	783,1
Consolidated Balance Sheet Data (at period end)
Cash and cash equivalents	1.598,6	2.514,5	3.095,3	1.598,6	3.095,3
Total assets	6.089,7	7.649,3	8.469,0	6.089,7	8.469,0
Long term debt	113,5	139,7	140,4	113,5	140,4
Total debt	639,6	739,9	760,0	639,6	760,0
Total liabilities	1.971,8	2.300,6	2.537,8	1.971,8	2.537,8
Total shareholders’ equity / Net Assets	4.118,0	5.348,7	5.931,2	4.118,0	5.931,2

(*)Reconciliation of Non-GAAP Financial Measures

We believe that EBITDA is a measure commonly used by companies, analysts and investors in the telecommunications industry, which enhances the understanding of our cash generation ability and liquidity position and assists in the evaluation of our capacity to meet our financial obligations. We also use EBITDA as an internal measurement tool and, accordingly, we believe that the presentation of EBITDA provides useful and relevant information to analysts and investors.

Beginning from the 2006 fiscal year, we have revised the definition of EBITDA which we use and we report EBITDA using this new definition starting from the first quarter of 2006 results announcement to provide a new measure to reflect solely cash flow from operations.

The EBITDA definition used in our previous press releases and announcements had included Revenue, Direct Cost of Revenue excluding depreciation and amortization, Selling and Marketing expenses, Administrative expenses, translation gain/(loss), financial income, share of profit of equity accounted investees, gain on sale of investments, income/(loss) from related parties, minority interest and other income/(expense). Our new EBITDA definition includes Revenue, Direct Cost of Revenue excluding depreciation and amortization, Selling and Marketing expenses and Administrative expenses, but excludes translation gain/(loss), financial income, share of profit of equity accounted investees, gain on sale of investments, income/(loss) from related parties, minority interest and other income/(expense).

EBITDA is not a measure of financial performance under IFRS and should not be construed as a substitute for net earnings (loss) as a measure of performance or cash flow from operations as a measure of liquidity.

The following table provides a reconciliation of EBITDA, which is a non-GAAP financial measure, to net cash from operating activities, which we believe is the most directly comparable financial measure calculated and presented in accordance with IFRS.

TURKCELL	Q4	Q3	Q4	YE	YE
US$ million	2006	2007	2007	2006	2007
EBITDA	465,2	771,5	745,4	1.820,0	2.627,1
Other operating income/(expense)	(0,4)	2,4	(21,3)	1,6	(14,7)
Financial income	63,0	83,5	94,9	184,0	308,4
Financial expense	(42,0)	(230,7)	(105,7)	(108,0)	(551,1)
Net increase/(decrease) in assets and liabilities	197,2	316,0	(155,9)	(42,7)	(213,5)
Net cash from operating activities	683,0	942,7	557,4	1.854,9	2.156,2