SABANCI HOLDING CHANGED CEO

01.08.2000

Mr.Sakıp Sabancı, the Chairman of the Sabancı Holding Main Board, has announced today the resignation of Chief Executive Officer, Mr.Hasan Güleşçi and appointment of the Automotive Group President Mr.Hazım Kantarcı as the new CEO of the Sabancı Holding effective Aug. 1, 2000.

In his announcement Mr.Sabancı said;

?Mr.Güleşçi has served diligently in our Group since 1961, starting as an engineer at the boiler house of Bossa, the Sabancı Textile operations. He has had valuable contributions for the growth and most recently globalization of the Sabancı Group. Spending last 27 years of his 40 years of service as one of the top executives of our group, he established and served the first General Manager of Kordsa; Sabancı tyre cord fabric operations between 1973-1981; General Manager of Lassa, Sabancı Tyre Company from 1981 to 1985; General Coordinator of Sabancı Holding since 1985 and most recently as the Chief Executive Officer of Sabancı Holding. During his service as General Coordinator of Sabancı Group, he conducted negotiations and finalized the agreements of Dusa, Brisa, Beksa, Marsa KJS, Kraftsa, Philsa, Philip Morrissa, Carrefoursa and Danonesa joint ventures worked closely with McKinsey & Co. for the institutionalization of the Sabancı Group. His request to resign from his duties in the Group on the grounds that

the organization would replenish and revilalize itself and he would spare more time for himself and his family, was considered with appreciative understanding by our main board and accepted.

We are grateful to Mr.Güleşçi for his inmeasurable contributions to our group and wish him and his family long, healthy and happy lives?.

Profile

Mr.Hazım Kantarcı

* Birth Date: 1945

* Education: - Talas-Tarsus American College
- Middle East Tech. University; Faculty of Business Administration

* Civil Status: Married and two children

Professional Experience

Started in 1970 at Bossa, Sabancı Textile Operations

1975-1980 Kordsa, Sabancı Tyre Cord Fabric Operations
Assistant General Manager
1980-1985 Lisa, Sabancı Tyre Marketing Co.
General Manager
1985-1996 Brisa, Sabancı-Bridgestone Tyre Co.
General Manager
1996-2000 Toyotasa, Sabancı-Toyota Automotive Co.
General Manager
Automotive Group President

He has served as President of Automotive Group; Main Board Director of Sabancı Holding; Temsa and Akkardansa Board Chairman; Brisa and Yazakisa Board Member since 1996. Presently he is the Governing Committee Member of European Foundation of Quality Management, EFQM.

Under his leadership, Brisa was awarded the National Quality Award in 1993 and European Quality Award in 1996. He received an honorary PhD from the Marmara University in 1998 for his contributions for the recognization of the quality of Turkish industry in the international business community.