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UniCredit: Yapi ve Kredi Bankasi A.S. and Kocbank A.S. complete merger

UniCredit announces that the merger of Koçbank A.S. ("Koçbank") into Yapı ve Kredi Bankası A.S. ("Yapı Kredi") has been successfully completed today following the registration at the Trade Registry. The merger had already been approved by the shareholders' meeting of both banks as well as by the relevant authorities.

Koç Financial Services A.S. ("KFS") - the 50/50 joint venture between UniCredit and Koç Group - will own 80.27% of Yapı Kredi while 19.73% will be held by minority shareholders. Yapi Kredi shares will continue to be listed on the İstanbul Stock Exchange under the ticker symbol YKBNK.

As a result of the merger, Yapı Kredi aims to become the leading player in the Turkish market in terms of growth and value creation and to achieve a leadership position in the main business lines.

With a market capitalization of approximately €68 billion (as at 29 September 2006), ranking among the top financial groups in Europe, UniCredit has a presence in 20 countries worldwide, with over 28 million clients and 7,000 branches, 134 thousand employees and total assets of approximately €804 billion as of 30 June 2006.


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