RNS Number:2965J
Turk Ekonomi Bankasi A.S.
27 March 2003


Name of the Company      :   Turk Ekonomi Bankasi A.S. (TEB)
Address                  :   Meclisi Mebusan Caddesi, 35 80040 Findikli/Istanbul
Telephone                :   +90-212-251 21 21
Fax                      :   +90-212-249 65 68




                                                        Istanbul, March 27, 2003



Subject: TEB's announcement dated March 6, 2003.


The resolutions reached at the Annual General Meeting held on March 27, 2003 are
stated below:



1-    The Annual Report of the Board of Directors and Auditors' Report of the
year 2002 have been discussed and unanimously approved.



2-    The Balance Sheets and Profit and Loss Statements as of 2002, and the
proposal of the Board of Directors dated March 11, 2003 related to the
distribution of profits have been approved. It was unanimously agreed:

a)        that the distribution of profits to shareholders shall begin as of
April 4, 2003, within the context of the proposal.

b)        not to distribute profits for items other than specified in the
proposal,

c)        to authorize the Board of Directors for carrying out the necessary
procedures and distribution method.



3-    The summary of the Annual Auditors' Report prepared by the Independent
Audit Company Guney Serbest Muhasebeci Mali Musavirlik Anonim Sirketi was read
and presented to the  General Assembly. The above mentioned independent audit
company was unanimously re-assigned for the year 2003 as proposed by the Board
of Directors.



4-    The appointment of Aydin ESEN to the Board of Directors, replacing
Alparslan Karagulle who left Board of Directors by resignation as of October 1,
2002, was unanimously approved as per Article 315 of Turkish Commercial Code,
who was appointed to the position by the Board of Directors as of the
above-mentioned resignation date and Article.



5-    Members of the Board of Directors and Auditors, who were in execution in
2002, have been unanimously acquitted due to the proceedings the said year.



6-    Referring to the number of Board of Directors and Auditors and the
duration of their duties;

a)        the number of Board of Directors has been determined as seven and that
of the Auditors as two,

b)        the duration of duties of Board of Directors and Auditors has been
determined as one year,

c)        Yavuz CANEVI, Dr. Akin AKBAYGIL, Varol CIVIL, Aydin ESEN, Cihat
MADANOGLU, Rafael TARANTO and Ismail YANIK have been appointed as members of the
Board of Directors. Ayse ASARDAG and Dr. Ozen DALLI have been appointed as
auditors.



7-    The monthly emolument of the members of the Board of Directors has been
unanimously determined as TL 500 million gross and the salaries of auditors as
TL 200 million gross.



8-    It has been unanimously decided that the Board of Directors are allowed to
perform under the articles of 334-335 of Turkish Commercial Code on the
condition that the prohibitions as set by the Banking Code No.4389 are reserved.



A copy of the minutes of the Annual General Meeting, the attendance list, annual
report and other documents will be presented to the Istanbul Stock Exchange
subsequently.





We declare that the foregoing explanations are in accordance with the principles
set forth in the Regulation Series VIII, No. 19 of the Capital Markets Board;
that it reflects all information we have received in connection with this
matter, that the information is in accordance with our books and records, that
we have spent all required efforts to obtain accurate and complete information
and that we are responsible for this explanation.








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