TAV Tepe Akfen Vie(*) Invesment Construction and Operation Co. (“TAV”) is legally established on 11 November 1997 to build the Istanbul Atatürk Airport International Terminal, car park and associated facilities at a cost of USD 306 million within a 30 month period in fact which was completed 8 months a head of schedule, and operate the international terminal for 44 months and 20 days until 7 May 2004. An addendum to the agreement has been made at June 2000. Under the terms of the addendum, TAV has the responsibility to enlarge the international terminal by 30% till May 2004. In return for extending the international terminal with the addendum, the operation period of TAV has been increased by 13 months 12 days (to approximately 66 months in total) until June 2005.

With the tender made on 10 June 2005 for the second operation period , TAV has been awarded with the lease contract to operate the domestic and international terminal of İstanbul Atatürk Airport at a cost of 3 Billion USD for a 15.5 years. After being awarded with the new contract, TAV Airports Terminal Operations Co. has been established.

TAV is a joint-venture company TEPE and AKFEN Construction, promoting and conducting new business in airport construction, financing, passenger terminal operations and related consulting services on an international basis.

Both TEPE Group and AKFEN Holding are large Turkish companies with combined broad interests in institutional, industrial civil and commercial construction, industrial and commercial products manufacturing, facilities management, insurance, security services recreation and tourism in Turkey and abroad.

TAV with its know how and expertise has been awarded with the construction and B.O.T projects inside and outside of Turkey since 2003. The projects are investment, construction and operation of Ankara Esenboga New Domestic and International Terminal, İzmir Adnan Menderes International Terminal and Tbilisi and Batumi Airports, The Construction of Cairo International Terminal Construction ,TB3/Eygpt, Tohid Iranian School Construction/UAE, Emirates New Engineering Centre Hangar Roof Structural Steel Work/UAE, Majestic Tower (G+6P+46) in Al Memzar / Sharjah/UAE, Al Sharaf Shopping Mall Construction, UAE

As the company has grown so fast for the last 2 years, the management has made the decision to gather all the the investment, constuction and operation activities and facilities in the aviation sector under one roof and for this purpose TAV INVESTMENT HOLDING Co.(TAV Holding”) has been established on 1 July 2005 to unite all TAV group companies.

(*) AS OF OCTOBER 27 , 2004 , VIE IS A NO LONGER A SHAREHOLDER IN TAV