Sedas Devir En

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February 11, 2009
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       AkCez declared target during the
             takeover of SEDAS
   The aim is to invest for enhanced “Quality
                 and Efficiency”
The agreement finalizing the block sale of 100% shares of the grid company SEDAŞ was signed
between Prime Ministry Privatization Administration and Akkök-Akenerji-CEZ (AkCez)
Consortium which won the tender with 600 million USD.

AkCez Consortium formed by 5% Akkök Group, 45% Akenerji and 50% CEZ partnership paid
300 million USD in cash, while the remaining amount will be paid in two years in equal
installments with an interest rate of Libor+2.5%.

With 20 year experience in the energy sector Akenerji, started to provide high quality electric
distribution services to 1,3 million subscribers in a region encompassing Sakarya, Bolu, Düzce
and Kocaeli where the heart of Turkish industry beats.

AkCez management has stated that with its strategic role in powering Turkey's growth, SEDAŞ
would be the start of a series of investments to reach 3000 MW power generation capacity by

The signing ceremony finalizing the sale and hand over of SEDAŞ was held on February 11, 2009,
with the attendance and under the guidance of Minister of Energy and Natural Resources Dr.
Hilmi Guler and with the participation of top level management from Privatization
Administration, Energy Market Regulatory Authority, SEDAŞ, Akkök Group, CEZ Group and

Akenerji Chairman of the Board Ömer Dinçkök stated that energy sector is one of the
forerunning industries which will be crucial in Turkey and the world within the next decade and
said, 'By uniting in a strategic partnership powers of Akenerji, Turkey’s leading private energy
company and CEZ Group, one of Europe’s leading energy companies, we believe we are taking
an unprecedented step for the Turkish energy industry and our country. In a region where the
heart of Turkish industry beats, we will be distributing annually a total of 8 billion kilowatt/hour
electricity to 1,3 million subscribers. Public and private sectors need to work together and make
smart investments not to face an energy gap which will negatively affect the Turkish social and
industrial life. As Akenerji, we're determined to fulfill this responsibility on our part. For this
reason, our target is to reach 3000 MW power generation by 2013.'

A shareholder with 50% in AkCez Consortium and leading European energy company with 8,6
billion $ revenue, CEZ's Vice Chairman of the Board and Division International Chief Officer
Tomas Pleskac said, 'Investment in Turkey in today's worldwide economical conditions is a sign
of our confidence in the Turkish economy and our partner Akkök Group. It also confirms CEZ's
reputation as a strategic investor into the energy sectors throughout the region of our
international expansion. Turkish energy sector requires a lot of investment to cover the
increasing needs of its economy which is growing rapidly. This brings a lot of prospects for us
and our joint effort with Akkök Group in which we are aware of the fact that energy sector is
one of the most important foundation – stones of each economy. '

“Our purpose is to increase 'Quality and Efficiency' at SEDAŞ”

Akkök Group Companies Chairman of the Board Mehmet Ali Berkman stated in 2009 the only
anticipated growth area among other industries they operate in, would be the energy industry.
Mr. Berkman added that 'We have been carrying out our investments in the energy industry as
we have planned in full determination and uninterruptedly.”

Mentioning that privatizations seem to be the best solution to meet demand and cost in
generating and distributing electricity, Berkman said, ' In spite of the fact that good will was
exhibited on energy in terms of public and private investments with the passing of related laws
in 1984, 1994, 1997 and 2001, we can suggest that there has been a delay in the tangible steps
taken. That is, the first privatization started with the distribution bid in July 2008. We need to
stress that Turkey’s attempt to be a global player in the energy industry owes a lot to the
current government’s smart and determined approach. Given that there has not been enough
investments made by public due to the privatization plans in many regions, it will be seen that
privatization tenders are both a start and opportunity in terms of enabling efficiency and
sufficient production capacity.”

Berkman who stated that SEDAŞ is an important step taken towards future distribution and
investment plans of Akenerji, added that “SEDAŞ will be the first platform in which we will be
reaching the consumer directly as Akenerji. Our target is to grow SEDAŞ with new investments
to increase efficiency and service quality. In this industrial region which is crucial for the growth
in Turkey, our aim is to decrease the power theft rate, to increase customer satisfaction by
accelerating customer services and provide service and solutions for our stakeholders,
corporate and individual customers.”

About Akenerji
Founded in 1989, Akenerji is a member of the Akkök Group, which employs over 4,000
people in more than 20 industrial and trade companies in textile, chemical, energy, marketing,
real estate and insurance sectors. The Akkök Group’s energy flagship company is the company
Akenerji, whose portfolio, and mainly its 12 gas power plants, with total installed capacity of
541 MW produce heat and electricity, and which, at the same time, develops hydro and wind
power plant projects aiming to enlarge the production basis of the company to 960 MW.

About CEZ Group
CEZ Power Group is a leading Central-European utility group with almost 7 million customers
and the production portfolio with the installed capacity of 14,300 MW. The company´s market
capitalization exceeds 30 billions EURO, the company stocks are traded at the Prague and
Warsaw Stock Exchanges. In addition to its operation in the Czech Republic, CEZ Group is active
in more than 10 other countries in the region of Central and South-Eastern Europe. On top of
generation and sale of electricity, its activities include telecommunications, informatics, nuclear
research, designing, construction and maintenance of energy equipment, raw material mining
or by-product processing.


The establishment of Sakarya Electricity Distribution Inc. coincides with the construction of
Adapazarı Facilities in 1954 after the establishment of Etibank’s energy group.

With No. 93/T–103 and 25.11.1993 dated decision of Supreme Planning Council, one of the 7
Headquarters established with the partnership dependent on TEDAŞ will be based in Sakarya as
SAKARYA ELECTRIC DISTRIBUTION COMPANY Inc. to provide service for Sakarya and Bolu cities.

While the organizations of electric distribution were being restructured in line with the
transition to market system in Turkish Electric Distribution; with 02.04.2004 dated and 2004/22
numbered decision of Supreme Planning Council, TEDAŞ was included into privatization scope
and program. In this view, distribution regions were re-specified, Turkey being divided into 21
distribution regions. Gulf EDAŞ and Sakarya EDAŞ were merged in 1 March 2005 and re-
organized as No. 15 Distribution Region covering 3 cities, Sakarya, Bolu and Düzce.

Within the framework of 4046 numbered Law articles, 100% stakes of Sakarya Electric
Distribution Inc. were opened for a privatization bid with the method of block sales. In the bid
which was opened with 355 million USD offer on 1 July 2008, the consortium of Akkok-Akenerji-
CEZ won the tender with 600 million USD offer. The offer was approved by Privatization
Supreme Council (OYK). SEDAS was taken over by the consortium with a ceremony held in
Ankara on 11 February 2009.

SEDAŞ Directorate General is an energy distributor company, offering 24 hour continuous
service to 2.866.893 people, totally at 4 cities, 45 districts and 1.473 villages on a 19.358 square
kilometer area which covers Sakarya, Kocaeli, Bolu and Düzce.

SEDAŞ’s mission is to build and manage electric distribution facilities, to provide service within
the scope of retail sales agreement by making connection contracts with electric consumers, to
carry out operations for efficient and continuous service in electric distribution, to detect the
energy consumption, accrue and collect revenue.

SEDAŞ provides service to 1.307.309 subscribers as of the end of the year 2008 with 2.600 MVA
(Mega-Volt-Amper) and 1.475 MW Peak Power. As of the end of the date 31 December 2008,
company employs 882, that number totaling to 2.166 with outsourced services.

In 2008, the energy purchased by SEDAŞ is 9.348.513.000 KWH and 8.760.455.000 KWH energy
was distributed through the company.

Akkök Group of Companies

Founded by the late Raif Dinçkök in 1952, the Akkök Group consists of more than 20 trade and
industrial companies and 15 production facilities in various sectors. Due to the international
competition and globalization, Akkök directs its activities toward chemical, energy, real estate
and port operations.

With a 12% share of the global market for acrylic fiber production, Aksa also contributes to the
area of polymer technology with investments in carbon fiber. The first and the largest private
power producer in Turkey, Akenerji is an integrated energy company providing service both in
production and distribution. Ak-Kim penetrates global market with over 100 chemical products;
also creating turnkey projects outside of Turkey. Akkök, crowned its success in real estate sector
with Akmerkez, successfully operates with the recent projects carried out by Akiş.

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