What constitute the brand name TURCAS are its respectability, ability to create difference and ability to become pioneer in its works, its having the highest ethic and corporate governance standards and the custom of successful and sustainable cooperation and partnership with the local and particularly foreign investors. Ethic rules, prescribed by our Board of Directors and summarized below, constitute main rules of conduct of our Company. All of our employees obey these rules. Our Company aims at being reliable, responsible, accountable and transparent against its partners, shareholders, employees, suppliers, business associates, competitors, environment, society and humanity. TURCAS acts in compliance with the laws, international law rules and business ethics in achievement of its goals. Furthermore, our Company strictly obeys entire of the following ethic rules:


· Trade secrets given by the Company as required for the business of the Company or possibly acquired or accessed in the work place and information not disclosed to public yet, information regarding personal rights of the employees and agreements entered into with third parties are evaluated within the scope of the confidentiality and protection of the trade secrets.

· All the official disclosures are made to the investors, shareholders and public completely, concurrently and apparently through the departments specified by the Company within the frame of the equity principle and utmost attention is paid to protection of such information. Accordingly all the shareholders are able to access in the information concurrently and equally.

· Utilization of any information and document of TURCAS within the scope of the insider trading or getting benefit through stock exchange or in any other way are absolutely prohibited and unacceptable.

· TURCAS personnel diligently abstain from any and all acts and activities resulting in conflict of interest and pays utmost attention to safeguard the interests of the Company. They also refrain from acts and actions getting interests for themselves and their dependents. Derivation of personal inappropriate interests by the personnel based on their positions and providing any interest to the dependents or third parties cannot be overlooked in any case.

· TURCAS conducts any of its activities in compliance with the national and international laws and regulations and stands against all the institutions and organizations without any expectation of interest, impartially and equally.

· TURCAS ensures that any kind of reports, financial statements or records are kept and retained in accordance with the accounting principles specified as per the applicable laws and regulations.

· TURCAS tries to ensure highest level of customer pleasure and approaches honestly and fairly to its customers and produces fast and permanent solutions by approaching to its customers’ problems sensitively.

· TURCAS recognizes efficient exercise of organization or association and collective bargaining rights of its employees and tries to conduct studies for enhancement and optimization;

· TURCAS makes efforts to provide its employees reliable and appropriate working environment and to conduct studies for continuous optimization.

· TURCAS determines and applies training programs targeting achievement of information, ability, attitude and behavior required for enabling its employees to catch updates and changes in the nature of the business, increasing the task satisfaction and procuring its personnel to become more successful in the business environment and evaluates the results in favor of the Company. It provides its employees with domestic and abroad trainings by which the employees may develop their occupational backgrounds and abilities within the framework of the possibilities.

· TURCAS develops performance management system, enabling its employees to learn the results of their own works and evaluate personal achievement results and provides equal and fair opportunities in application of this system. Furthermore, it establishes a career management system and ensures operation of the same. These criteria are taken into account in promotions and advancements.

· TURCAS ensures arise of “Corporate Culture and Awareness”, which will increase loyalty to the corporation and make working incentive by the way of fulfillment of their social and cultural requirements in order to increase efficiency of its employees.

· TURCAS obtains opinions of its employees by the way inquiries and the like, directs the practices to be made and ensure participation of the employees in management and decision-making processes.

· TURCAS is managed and directed to maximize the Company’s shares, however, it abstains from assuming unnecessary risks. TURCAS makes its decisions with the understanding of accountability and responsibility and tries to manage the resources and assets in the most efficient manner.

· TURCAS acts in compliance with the principles of continuous development of the human health, work place security and environmental protection in its investment preferences.

· TURCAS employees actively participate in any non-governmental organization and any service for the benefit of public and support social, training, health and sports activities as a legal entity.

· TURCAS employees abstain from unethical behavior such as bribery, corruption, gross misconduct and support efforts for elimination of such offenses; and abstain from granting and accepting presents providing privilege, priority or interest.


EFFECTIVENESS

These Ethic Principles and Values were adopted by the Board of Directors Resolution dated 04/03/2010 and numbered 2010/02 Any amendments to be made herein enters into force upon acceptance by the Board of Directors