APRIL 2005

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APRIL 2005
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• Goldas...
• the leading Turkish jewellery producer
• present in overseas markets
• unique with its technology and quality
• Turkeys first public jewellery company
• the flagship of a leading group

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• A foremost designer and producer of gold
  jewellery in Turkey
• Goldas possesses a 14-ton output capacity in its
  4,500-sqm plant in Istanbul.
• Despite 12 years of corporate history, Goldas has
  achieved a strong international brand
  recognition.
• It contemplates expanding its domestic operations
  through increasing the number of stores with
  Goldas logo as well as introducing new marketing
  channels.

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Leader of the Turkish jewellery market

• The developing Turkish jewellery market carried
  Turkey to the top ranks in the world in terms of
  gold demand and jewellery production.

• In addition, Goldas ranked 141st in the year 2003
  in Istanbul Chamber of Industry Top 500 Companies
  list.

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• Contributions to jewellery fairs
• In line with its growth strategy, Goldas joins
  the worlds major international jewellery fairs.

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• Aspires a world-renowned brand name
• Goldas exports to over 40 countries across five
  continents.
• It is one of the biggest exporters in its sector
  with direct and indirect foreign sales accounting
  up to 30 of its gross revenues.
• The company has two free-trade zone branches and
  the group has two specialized foreign trade
  companies for export and import activities.

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• Emphasis on an overseas network
• As an extension of its international growth
  strategy, the first representative office was
  launched in USA in 1994, which was followed by
  representatives in UK, Germany, U.A.E., Russia
  and Thailand. The 7th representative office was
  set up in South Africa in 2003 and the 8th in
  China in 2004.
• The group aims continuing its expansion by new
  representative offices in 2005 and plans to
  enlarge its franchising activities.
• Goldas also plans to expedite its growth trend
  through likely acquisitions, operating of
  jewellery divisions of department stores and
  possible mergers to penetrate target markets.

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• Challenging targets in both domestic and foreign
  markets
• Number of the groups retail outlets is planned
  to reach 100 during the next five years.
• Domestic stores will sell Goldas products in
  major shopping malls and high streets throughout
  Turkey.
• A similar expansion is pursued in the overseas
  markets with a widespread retail web. The first
  overseas Goldas store was launched in Sharjah,
  followed by Dubai in U.A.E, and Dusseldorf in
  Germany. Since then, four stores in Moscow became
  operational.
• Store chain will continue its growth mainly in
  Russia and Turkey, with a line in China after
  2005.

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• Marketing and sales through new economy tools
• As another innovative step in its sector, Goldas
  launched its corporate website www.goldas.com and
  started online sales in 2002.
• The website also enhances control of order book
  and inventory and hence, improves delivery time
  from months to days.
• As a combined marketing tool to sales operations
  in virtual markets, Goldas was the first to
  present its CD-ROM catalogue in the sector in
  1994.

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• Signals an attractive growth trend
• Thanks to its confident domestic market position
  as well as its export oriented business model,
  Goldas achieved a sustainable growth in sales.
• In line with its projections, Goldas targets to
  record a sales CAGR of above 30 until the year
  2006.

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• The sole holder of ISO 9001 Quality Certificate
  in its sector
• Corporate restructuring studies paid-off and
  Goldas became the first and only holder of ISO
  9001 Quality Certificate in its sector in Turkey.
• Goldas has a unique RD laboratory in Turkey for
  new product development and quality assessment.
  Currently, Goldas is involved in a new project
  together with the Turkish Technology Development
  Foundation. The project focuses on 3D
  Design-Supported Rapid-Prototyping Technology
  with the concept of concurrent, simultaneous
  engineering and the optimization of process
  parameters prior to production by the Taguchi
  Design of Experiments Methodology.
• With its foremost technology, the company targets
  to earn the European Quality Award.

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• Unique with its CAM, MIS and CRM
• Designed by its own IT department, Goldas
  benefits from its distinctive Computer Aided
  Manufacturing (CAM), Management Information
  Systems (MIS) and Customer Relations Management
  (CRM).
• Every step in production as well as shipment is
  followed by computerized systems, and labeling
  with barcodes improves efficiency.
• As the first producer developing its computerized
  manufacturing systems, Goldas continuously
  improves its technology to satisfy changing
  customer needs.

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• Enriched product portfolio and high quality
  attract customers
• Goldas is famous with its high-quality products
  designed for varying consumer preferences and
  tastes due to regional and cultural differences.
  In order to maximize customer satisfaction, more
  than 5,000 new designs are introduced every year.
• The companys developed CAD department and
  award-winning designers are among the principal
  features supporting its strong brand name.
• Goldas organizes design contests to discover
  young talents and to encourage designers.
  Finalists designs are produced and Goldas enters
  the World Gold Councils contests. Goldas
  products have also occupied top ranks in the
  World Gold Councils design awards since 1997.

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• A publicly held company
• Goldas went public and its shares were listed in
  the Istanbul Stock Exchange in December 1999. It
  is the only public jewellery company in the
  Istanbul Stock Exchange.
• Goldas has issued ADRs in October 2001 and
  subsequently, the companys ADRs became quoted in
  the Frankfurt Stock Exchange in December 2001.
• Goldas aims to generate new funds through capital
  markets and use these funds to grow the gold- and
  jewellery-manufacturing business.

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• A transparent corporate structure
• Goldas is audited bi-annually by an external
  audit company. In addition, internal audit
  activities are also continuously improved.
• The companys financials are provided quarterly,
  while the internal financial and fundamental
  reports are produced on a monthly basis. Goldas
  follows a strict budget discipline in line with
  its business plan which is also published in the
  groups corporate website at www.goldas.com.

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• Compliance with the requirements of the Capital
  Markets Board
• As a publicly-held company, Goldas fully complies
  with the regulations of the Capital Markets
  Board, such as bookkeeping and reporting
  practices in line with the GAAP and IFRS.
• The companys financials according to CMB
  regulations are published quarterly, the
  half-year and year-end results are subject to
  independent audit.

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• The Parent Group
• 16 companies and a specialized holding in gold
  jewellery
• With a rapid and self-financed growth, Yalinkaya
  Group, now holds stakes in 16 group companies.
  Sectors include gold and jewellery, foreign
  trade, finance, construction, textile and
  services.
• The groups gold and jewellery related companies
  are structured under a separate division. This
  special division is governed by Goldart Holding.
• Under an integrated structure, accommodating gold
  and other precious metals production, refinery,
  jewellery manufacturing and marketing, the group
  foresees to improve efficiency and effectiveness.

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• Six companies specialized in precious metals and
  jewellery
• With its expertise and well-known brand name,
  Goldas Jewellery is at the center of this special
  group, embodying gold with unique designs and
  delivering to consumers.
• Goldas Marketings main activity is marketing and
  sale of jewellery, while it also operates the
  Goldas Retail Stores in the domestic market. The
  companys customer portfolio is accommodating
  hundreds of jewelers. There are also stores
  carrying Goldas logo, five in Istanbul and one
  in Ankara.
• Meydan is a member of the Istanbul Gold Exchange
  (IGE). In addition to the precious metals
  trading, Meydan also acts as an investment
  broker, offering producers, exporters and
  investors FX trading services. Meydan is ranked
  among the top performers after bank members of
  IGE and it operates under ISO-9001 quality
  certificate.

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• Six companies specialized in precious metals and
  jewellery
• Pregold Mining is founded to involve in precious
  metals mining and trade activities. The companys
  exploration permits exceed an area of 555 km2 in
  Turkey.
• Goldoro Refinery is in charge of refining gold
  and similar precious raw metals as well as
  producing cast with internationally-accepted
  standards. Goldoro also trades these casts.
• Goldas Distribution is active in the distribution
  and marketing of licensed products and ChipGold.

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The Participation Portfolio of Goldart Holding
GOLDART HOLDING
Goldas Jewellery 38.3
Goldas Marketing 99.99
Goldas Distribution 99.99
Meydan Precious Metals 90
Pregold Mining 90
Goldoro Gold Refinery 90
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• The group synergy
• Respectful clients in factoring are used to spur
  foreign trade activities.
• Operations in the free trade zone, financial
  planning and overseas offices enable synergy in
  foreign trade operations.
• Financial restructuring and involvement in
  finance sector provide favorable loans to the
  group.

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GOLDAS JEWELRY INDUSTRY IMPORT EXPORT INC. 24,
Kayalar Sokak Merter, 34169 Istanbul -
Turkey Tel [phone] - 444GOLD Fax
90(212) 637 4007-08 e-mail goldas_at_goldas.com Rep
resentative Offices U.K. GOLDART (UK) LTD.
100 Hatton Garden, Suite 115/116 London, EC1N
8NX Tel [phone] [phone]
Fax [phone] e-mail
goldart.uk_at_goldas.com U.S.A. GOLDART
INTERNATIONAL, INC. 1305 Franklin Avenue
Suite 245 Garden City, NY 11530 Tel [phone]
8370 [phone] Fax [phone]
3888 e-mail goldart.usa_at_goldas.com GERMANY GOLD
AS GmbH Königsallee 58b 40212 Düsseldorf Tel
49(211) 1597126-27 Fax [phone]
e-mail goldas.de_at_goldas.com U.A.E. GOLDAS
(L.L.C.) Al Mamzar Center, 1st Floor, Office
No3, P.O.Box 86426 Dubai / U.A.E. Tel 971(4)
297 8088 Fax [phone] e-mail
goldas.uae_at_goldas.com RUSSIA GOLDAS
LTD. Russian Federation, Moscow, 103006,
Dolgorukovskaya st., Bld. 7 Sadovaya Plaza Tel
7(095) 933 1363 Fax [phone] e-mail
goldas.ru_at_goldas.com THAILAND GOLDAS GENERAL
TRADING LTD. 919/527 Jewellery Trade Center
Building 45.Floor Silom Road Bangrak, Bangkok
10500 Thailand Tel [phone] Fax 66(2)
630 3435 e-mail goldas.th_at_goldas.com