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Turkcell's License Agreement Amendment Regarding 15% Treasury Payment Achieved

Turkcell (NYSE: TKC, ISE: TCELL), the leading provider of mobile communications in Turkey, announced today that the license agreement, signed between Turkcell and the Ministry of Transportation on April 27, 1998 and amended according to the 2nd provisional article of Law no.4673 on February 13, 2002 with the Telecommunication Authority, has been revised following the completion of the studies of the related ministries and authorities. The revision of the license agreement is regarding the gross revenue definition in calculation of the 15% treasury fee stated in article 8th of the agreement.

According to the new license agreement signed between Telecommunication Authority and Turkcell, Turkcell will continue paying 15% treasury fee to Treasury of Turkey, based on the new gross revenue definition excluding interest charges for late collections from subscribers and indirect taxes, such as 18% of Value Added Taxes (VAT), and other expenses as well as the accrued amounts that are recorded for reporting purposes, to be effective as of March 10, 2006.

http://www.turkcell.com.tr

About Turkcell

Turkcell is the leading GSM operator in Turkey with 27.9 million post-paid and pre-paid customers as of December 31, 2005 operating in a three player market with a market share of approximately 64% as of year end 2005 (Source: Telecommunication Authority). In addition to the high-quality wireless telephone services, Turkcell currently offers General Packet Radio Service (GPRS) countrywide and Enhanced Data Rates for GSM Evolution (EDGE) in dense areas, which provide for both improved data and voice services. Turkcell provides roaming with 495 operators in 186 countries as of March 10, 2006. Serving a large subscriber base in Turkey with its high-quality wireless telephone network, Turkcell reported US$4,269 million net revenues as of December 31, 2005. Turkcell has interests in international GSM operations in Azerbaijan, Georgia, Kazakhstan, Moldova, Northern Cyprus and Ukraine. Turkcell has been listed on the NYSE (New York Stock Exchange) and the ISE (Istanbul Stock Exchange) since July 2000 and is the only NYSE listed company in Turkey. 51.00% of Turkcell's share capital is held by Turkcell Holding, 13.29% by Cukurova Group, 13.07% Sonera Holding, 6.04% M.V. Group and 0.01% by others while the remaining 16.59% is free float.

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