RNS Number:2642S
Turk Ekonomi Bankasi A.S.
19 November 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, October 19,2003


We were notified by our subsidiary, TEB Portfoy Yonetimi A.S., that their board
of directors and the board of directors of ABN AMRO Portfoy Yonetimi A.S. have,
on November 19, 2003, signed a Merger (Transfer) Agreement in connection with
the proposed merger transaction, and that they will submit the Agreement to the
approval of the general assemblies of shareholders of each company following
approval of the proposed merger by the competent authorities.  In relation with
the same transaction, our bank has entered into a Shareholders Agreement with
ABN AMRO Bank N.V. on November 19, 2003, which agreement shall become effective
following approval of the merger by the general assemblies of shareholders of
each company.


We hereby declare that the foregoing explanation is in accordance with the
principles set forth in the Regulation Series VIII, No. 39 of the CMB; 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 regarding this
matter and that we are responsible for this explanation.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

AGRFFFFIUSDSELF