Drawing upon the strong, deep roots that it has put out during the more than half-century since its inception 69 years ago, Yasar Holding seeks to impartially protect the interests of all of its subsidiaries, investors, and other stakeholders while taking a socially responsible approach as it strives to maximize both customer satisfaction and shareholder value.

Well before the subject of "corporate governance principles" was on anyone\'s agenda in Turkey, Yasar Holding had already begun voluntarily taking steps to develop its own best practices on such issues thanks to its foresightful understanding of the benefits that good corporate governance were capable of providing.

Following the publication of OECD corporate governance principles in 1999, Yasar Holding split the duties and accountabilities of the CEO\'s office and the board of directors from one another. In this way, all work processes and responsibilities pertaining to both management and organization were clearly set forth in Yasar Group Management Handbook. The group-wide structure that was formulated in this way was subsequently reviewed in light of Corporate Governance Principles published by the Capital Markets Board (CMB) in 2003 and then revised again in 2005.

Another indication of the Yasar Group\'s attitudes towards good management is to be seen in its introduction of international financial reporting standards (IFRS) in all group companies beginning in 2003.

Carrying out all of its activities with the aim of achieving long-term sustainable growth, the Yasar Group manifests its commitment to such corporate governance principles as transparency, fairness, responsibility, and accountability among others throughout its organization and in all of its operations.

The Yasar Holding Board of Directors consists of six members, two of whom are independent members. There also exist a Subcommittee for Auditing and Risk Management and a Subcommittee for Human Resources and Governance, both of which report directly to the board.

All of the executive functions of the Yasar Group are under the responsibility of the Yasar Holding Chief Executive Officer, who is held accountable for them by the Yasar Holding Board of Directors.

It is a fundamental requirement that all Yasar employees fully comply with Yasar Group Rules of Business Ethics, which was published in 2009.

Detailed information is provided about group companies, their principal business activities, and their brands on the Yasar Group\'s website, from which there is also access to "Investor Relations" modules containing further information about those group companies whose shares are publicly traded.

The progress that publicly traded Yasar Group companies make in the area of corporate governance is publicly disclosed through corporate governance principles compliance reports, which are prepared

Audit committees and corporate governance committees have been set up in all publicly traded Yasar Holding subsidiaries as required by CMB regulations and in line with CMB\'s corporate governance principles. These same companies also determine dividend payment policies that are publicly announced at their general meetings.

In 2009 Yasar Holding\'s publicly traded subsidiaries also formulated and public disclosure policies which are based on the principles of transparency and truthfulness and whose aim is to ensure that investors, other stakeholders, and the public at large are provided with information that is timely, complete, correct, intelligible, and equally accessible to all as required by relevant laws and regulations. "Investor Relations" units were also set up in all publicly traded Yasar Group companies last year as well.

Yasar Holding is committed to protecting the rights of shareholders, to public disclosure, and to the principle of transparency abides by corporate governance principles in all decisions and actions involving stakeholders and the board of directors and seeks to fulfill its responsibilities for compliance with corporate governance principles in the conduct of all activities whose aim is to achieve sustainable growth.