Tender process of the privatisation of the public shares of Uludağ Elektrik Dağıtım A.Ş. (UEDAŞ) and Çamlıbel Elektrik Dağıtım A.Ş. (ÇEDAŞ) was finalized in 18 Februrary 2010. The tender costs were USD 940 million for UEDAŞ shares and USD 258,5 million for ÇEDAŞ shares. Share Sales Agreements were signed with Republic of Turkey Prime Ministry Privatization Administration in 31 August 2010.

Uluğ Enerji Dağıtım ve Perakende Satış Hizmetleri A.Ş. and Çamlı Enerji Dağıtım ve Perakende Satış Hizmetleri A.Ş.in which Limak Yatırım has respectively 33,31% and 33,03% shares hold respectively, %99,9 shares of UEDAŞ and ÇEDAŞ.

UEDAŞ

The Company serves around 2,46 million subscribers in provinces of Balıkesir, Bursa, Çanakkale and Yalova. The electiricty volume which is sold to ultimate customers during 2010 is 9.197 GWh

UEDAŞ has distribution and retail sales licenses for Uludağ distribution region which is valid for 30 years (valid since 1 September 2006).

The major revenues of the Company consist of 4 main tariffs which are retail sales, distribution, retail sales services and transmission revenues.

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