KOÇ HOLDİNG STARTED NEGOTIATIONS ON THE SALE OF KOÇ ALLİANZ SİGORTA AND KOÇ ALLİANZ HAYAT VE EMEKLİLİK

Koç Holding, which became one of the 50 largest European companies last year, on the back of successful acquisition of Tansaş, YKB and Tüpraş in 2005 together with a strong organic growth performance, continues to restructure its portfolio. In this context, Koç Holding announced yesterday that they have started to negotiate with its partner Allianz Group on the sale of the 48% of the shares in Koç Allianz Sigorta and 49% of the shares of Koç Allianz Hayat ve Emeklilik, owned by the Koç Group. Currently, Allianz Group has 37.1% share in Koç Allianz Sigorta and 38% in Koç Allianz Hayat ve Emeklilik.
In his statement, the CEO of Koç Holding, Mr. Bülent Bulgurlu announced that as of September 2007, Koç Allianz is the 3rd largest company in the insurance sector with 9.2% market share and Koç Allianz Hayat ve Emeklilik is the 9th largest company in life insurance and pension funds with 4.8% market share. Bulgurlu suggested that he strongly believes that both companies will continue to strengthen their already strong positions in these growing sectors. However, Bulgurlu added that they have decided to start negotiations on the sale of both companies in line with their focused growth strategy, with higher emphasis on profitability and shareholder value creation.