CONSOLIDATED BALANCE SHEET OF YALINKAYA HOLDING INC.                                                                                                                                      DATED 31.12.2006 USD
LIABILITIES	2006,12
I- SHORT TERM LIABILITIES	295.185.497
A) FINANCIAL LIABILITIES		59.022.030
1- Bank Loans			57.203.139
2- Current Maturities of Long Term Credits and Accrued Interest			1.634.219
3- Current Maturities of Bonds and Accrued Interest			(324.826)
4- Bonds and Notes Issued
5- Other Financial Liabilities			509.498
B) TRADE PAYABLES		186.194.853
1- Suppliers			186.646.341
2- Notes Payables
3- Deposits and Guarantees Received			25.953
4- Other Trade Payables			394.604
5- Rediscount on Notes Payables (-)			(872.045)
C) OTHER LIABILITIES		1.742.605
1- Due to Shareholders			398.329
2- Due to Affiliates
3- Due to Subsidiaries
4- Expenditures Payable
5- Taxes, Fees and Other Deductions Payable			665.620
6- Deferred and Restructured Public Payables
7- Other Liabilities			678.656
8- Rediscount on Notes Payable (-)
D) ADVANCES RECEIVED		47.856.337
E) PROVISIONS FOR LIABILITIES AND EXPENSES		369.672
1- Provisions for Tax			217.051
2- Provisions for Other Debts and Liabilities			152.621
II- LONG TERM LIABILITIES	5.369.921
A) FINANCIAL LIABILITIES		3.794.299
1- Bank Loans			333.895
2- Bonds Issued			4.112.881
3- Other Securities Issued			(652.477)
4- Other Financial Liabilities
B) TRADE PAYABLES
1- Suppliers
2- Notes Payable
3- Deposits and Guarantees Received
4- Other Trade Payables
5- Rediscount on Notes Payable (-)
C) OTHER LIABILITIES		1.004.225
1- Due to Shareholders
2- Due to Affiliates
3- Due to Subsidiaries
4- Debts to the Public Sector, Deferred or Payable by Installments			1.003.925
5- Other Long Term Liabilities			300
6- Rediscount on Notes Payable (-)
D) ADVANCES RECEIVED
E) PROVISIONS FOR DEBTS AND EXPENSES		673.324
1- Provision for Termination Indemnities			289.696
2- Provision for Other Debts and Expenses			281.701
3- Provision for Deferred Tax			101.927
CONSOLIDATED BALANCE SHEET OF YALINKAYA HOLDING INC.                                                                                                                                      DATED 31.12.2006 USD
LIABILITIES	2006,12
III- SHAREHOLDERS’ EQUITY	143.001.722
A) CAPITAL		71.143.995
POSITIVE DIFFERENCES OF CAPITAL ADJUSTMENT
B) CAPITAL COMMITMENTS (-)		(22.497.391)
C) EMISSION PREMIUM
D) REVALUATION FUND INCREASE		12.015.446
1- Value Increase in Fixed Assets
2- Value Increase in Affiliates			12.015.446
3- Value Increase in Stock Exchange
E) RESERVES		15.222.644
1- Legal Reserves			647.262
2- Statutory Reserves			117
3- Special Reserves
4- Extraordinary Reserves			11.667.173
5- Cost Increase Fund			978
6- Revenue from Affiliates’ Share Sales and Movable Sales
7- Retained Earnings (Inflation Adjustment)			2.907.114
F) NET PROFIT FOR THE PERIOD		3.621.291
G) LOSSES  FROM PREVIOUS YEARS (-)		(10.918.503)
1-Losses from Previous Years (-)			(10.918.503)
MINORITY SHARE		69.324.740
MINORITY PROFIT		4.987.573
TOTAL LIABILITIES	443.557.140