Turkcell CEO Quits

ISTANBUL, Turkey -- Turkcell (NYSE: TKC, ISE: TCELL), the leading provider of mobile communications in Turkey, announced today that the CEO of our Company, Muzaffer Akpinar resigned from his CEO position at Turkcell Iletisim Hizmetleri A.S. With regard to the Company's international operations, he will continue with his board membership duties, which are related to the investments in Ukraine, and at Fintur Holdings B.V., as well as at the GSMA Association. The Company's Board of Directors shall appoint the new CEO at the next Board Meeting.

Moreover, the Board of Directors of Turkcell took the following decision On June 23, 2006; Turkcell shall bid at the tender of the third GSM license in Arab Republic of Egypt and that the Company management shall be authorized to consummate required transactions with regard to this tender.

In accordance with the authority granted by Article 6 of the Articles of Association, and in line with the previous Board of Directors decision, the issued capital of Turkcell would be increased to TRY2,200,000,000 from TRY1,854,887,341, namely by an amount of TRY345,112,659; out of which TRY89,450,588 is transferred from the distributable dividends of year 2005, TRY204,000,290 is transferred from the distributable dividends of previous years and TRY51,661,781 is transferred from the equity inflation adjustment difference under the Company's registered capital ceiling of TRY 2,200,000,000. The bonus share certificate to be issued for each share having a nominal value of TRY 1 would be 18.605586%. Since all transactions are concluded and the distribution of such shares to our shareholders was realized in accordance with the provisions of the Capital Market Board's rules and regulations, the required application shall be made to the Capital Markets Board in order to obtain the Certificate of Registration to evidence the conclusion of the capital increase and after obtaining the Certificate of Registration; all necessary actions shall be taken for the Trade Registry and the announcement on the Turkish Trade Registry Gazette for the registration of the capital increase.

Turkcell Iletisim Hizmetleri A.S. (NYSE: TKC)