Turkcell Partners in Ukraine

Turkcell signs GSM partnership in Ukraine with Digital Cellular Communication

April 5, 2004

1 Min Read

ISTANBUL, Turkey -- Turkcell (NYSE: TKC, ISE: TCELL), the leading provider of mobile communications in Turkey, announced today that it signed the closing of the final agreement with the current partners of Digital Cellular Communication (DCC) regarding Turkcell's and DCC's partnership which will triggerthe start of DCC's GSM operations in Ukraine.

The contract was signed by representatives of both parties during the Turkish- Ukraine Business Council meetings being held in Kiev by DEIK (The Foreign Economic Relations Board). These signatures mark the start of the operational phase of the partnership. The signature ceremony was attended by Mr. Mehmet Emin Karamehmet, the President of Cukurova Holding A.S., Mr. Muzaffer Akpinar, Turkcell's Chief Executive, and partners of DCC. The Prime Ministers of Turkey and Ukraine, Recep Tayyip Erdogan and Victor Yanukovich respectively, were also present at the ceremony.

As part of the agreement, Turkcell will hold a 51% stake in the new company after buying DCC shares owned by System Capital Management and Valeriy Grigorievich Stepanenko for US$50 million. Turkcell's investment, together with its infrastructure and service expertise, is expected to increase DCC's market share in Ukraine. DCC is currently the third largest mobile operator in Ukraine. The agreement between Turkcell and DCC is finalized by the signing of the contract, which enables the transfer of shares between the partners.

Turkcell Iletisim Hizmetleri A.S.

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