Thursday, June 21, 2007

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"Eureko and Garanti Bank Announce Final Closing of Partnership Transaction in Turkey

Developing our Strategic European Focus

Eureko B.V. and T.Garanti Bankasi A.S. ('Garanti') of Turkey have today announced that they have concluded the final steps in the agreement (announced 21 March 2007), whereby Eureko has acquired 80% of Garanti´s Non-Life insurance business - Garanti Sigorta A.S. ('GS'), as well as a 15% stake in Garanti Emeklilik ve Hayat A.S. ('GE'), Garanti´s Life and Pensions business. In addition, the transaction includes an agreement for a long-term, exclusive agency agreement with Garanti covering both GS´ and GE´s current and new business."

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