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THE AMERICAN TURKISH SOCIETY CELEBRATES CITI-SABANCI PARTNERSHIP IN AKBANK

Gala Dinner on May 7 honors Charles Prince and Guler Sabanci in New York

New York, NY– May 8, 2007 – The American Turkish Society hosted its second annual gala dinner to celebrate the recent partnership of Citi and Sabanci Holding in Akbank, the most profitable banking institution in Turkey, at The Waldorf=Astoria in New York on Monday.

The recipient of The American Turkish Society's Corporate Partnership Award, Chairperson and Managing Director of Sabanci Holding, Guler Sabanci, expressed her satisfaction in Sabanci Holding's new partnership with one of the world's most prestigious corporations, Citi. Discussing the Sabanci/Akbank-Citibank partnership, she stated "Our thanks go to Mr. Erol Sabanci and Mr. Charles Prince, to Senator Phil Gramm and Mr. Christos Sclavounis, and of course Ms. Suzan Sabanci Dincer, Mr. Zafer Kurtul and the rest of the Akbank team, as well as Sir Win Bischoff for bringing the partnership to life through his masterful skill in combining his analytical and strategic expertise, and Mr. Zion Shohet and everyone at Citigroup."

Mr. Charles Prince, Chairman and CEO of Citi, receiving The American Turkish Society's Corporate Partnership Award along with Ms. Guler Sabanci, expressed his excitement over the new partnership in Akbank. "For us, our relationship in Akbank is a long term strategic partnership between the world's greatest financial institution and Turkey's greatest financial institution aimed at providing the greatest in customer service. The Citi – Akbank partnership will also be a symbol of the relationship between our two countries."

The American Turkish Society's gala honoring Charles Prince and Guler Sabanci was attended by leading executives from the American and Turkish business communities including Akbank board member Suzan Sabanci Dincer, UBS Vice President and Gala Dinner Committee Chair Phil Gramm, the late Ahmet Ertegun's wife and Honorary Gala Dinner Chairwoman Mica Ertegun, Akbank General Manager Zafer Kurtul, as well as political and diplomatic dignitaries and select guests from academia and the arts. The evening also included a memorial tribute to the late Ahmet Ertegun (1923-2006), founding chairman of Atlantic Records and chairman of the Society. The Society's annual gala dinners celebrate successful U.S. – Turkish corporate partnerships and the proceeds from the event will benefit The American Turkish Society's programs and activities that aim to foster greater political, economic, and cultural ties between the two countries. In addition to the generous support of Citi, Sabanci and Akbank to the Society, the evening was supported at the highest level by major corporations including UBS, Altria, American International Group (AIG), The Coca-Cola Company, Delta, and International Paper, as well as Mrs. Mica Ertegun.

For pictures of the event, please click here.

Additional Information:

Sabanci Holding, one of Turkey's leading industrial and financial conglomerates, is composed of 30 main companies, including Akbank, which offers a wide range of retail, commercial, corporate, private banking and international trade finance services. Citi has been a leader in providing financial products and services for over 200 years. On October 17, 2006, Akbank and Citi signed a strategic partnership agreement according to which Citi has acquired a 20% equity stake in Akbank for $3.1 billion, at a price of 9.50 Yeni Kurus (YKr) per share. The parties have successfully completed the transaction as of January 9, 2007.

Established in 1949 in New York City, The American Turkish Society is the oldest not-for-profit organization fostering economic and cultural ties and mutual understanding between the United States and Turkey.  From its humble but crucial beginnings of meet-and-greet dinners between Turkish and American government leaders in the highly-charged post-World War II period, the Society has steadily grown its corporate and individual membership with a diverse and challenging menu of business, policy, and cultural events throughout the years.  The Society's activities provide American audiences with valuable information about current issues pertaining to Turkey. Over the past decade, the Society has also increased its philanthropic endeavors. In particular, the Society's Earthquake Relief Fund, established in the wake of the tragic earthquake near Istanbul in August 1999, was an extraordinarily successful international aid effort, channeling over $4 million to non-profit organizations in Turkey. In addition, the Society supports a variety of international education and arts and culture programs.