Global Ports Holding (GPH), a fully-owned subsidiary of Global Investment Holdings and currently the operator of eight commercial and cruise ports, of which three are in Turkey, submitted the pre-qualification application for the Dubrovnik Gruz Port tender through its Croatian subsidiary, International Cruise Port Investment d.o.o., in partnership with French based BOUYGUES BATIMENT INTERNATIONAL (BBI).

The tender for Dubrovnik Gruz port includes the construction and 40 years operating rights of a cruise terminal, central parking lot, administration building, and a bus station in the city of Dubrovnik, one of the most prominent tourist destinations in the Mediterranean.

Commenting on the tender, Mr. Saygın Narin, CEO of Global Ports Holding, said, "Our growth strategy in cruise port operations encompasses the potential acquisition of additional strategically located ports, particularly in the Mediterranean. Dubrovnik, a city in the list of UNESCO World Heritage Sites, is an important destination in the Mediterranean, and the new port project provides a significant growth potential for cruise passengers to the City. Dubrovnik Cruise Port is one of the largest ports in Mediterranean with over 1.1 million number of passenger in 2013".

About GYH:
Global Yatırım Holding A.Ş. (GYH) was regrouped as a holding company in October 2004 to hold a diversified portfolio of investments in a number of businesses, including infrastructure, real estate, energy, and financial services. GYH is listed on Borsa Istanbul (as GLYHO.IS) and utilizes its experience in the finance sector for industrial business opportunities.

About GPH:
Global Ports Holding (Global Port) has been established to utilize commercial and cruise port opportunities in Turkey and the wider region. Global Ports is a leading port group with operations in Turkey and internationally, currently managing eight leading cruise and commercial ports. Since 2003, the Global Ports has developed a portfolio of strategically located ports in Turkey and internationally, each providing exceptional hinterland access with strong market fundamentals.

About Bouygues:
Bouygues is a diversified industrial group with operations in construction, property and investments. Bouygues operates in 80 countries with Euro10.6bn sales volume and in excess of 55,000 employees.

Please find below the excerpt from JCR Press Release:

"Global Yatırım Holding (GYH) has continued to grow in Group's main sectors in 2014, the main contribution to consolidated revenue being mainly driven by the port and energy operations. Port management revenues showed a rapid increase which holds an important portion in the consolidated financial statements. Group's port operations in Turkey are mainly driven by Antalya Port; overseas operations are involved in Barcelona Port. Energy activities, most effective section in the balance sheet following the port activities, have grown remarkably. A significant portion of the energy operations revenue consists of natural gas (CNG) and mining operations. Holding has diversified its income stream through different sectors and the Holding's projection is positively affected through long-term investments' cash flow generation. Depreciation expense exposure due to Holding's growth and interest expenses as a result of high debt levels have been suppressing factors on profitability.

On the other hand, despite the low level of net working capital due to long-term investments' funding needs, Holding has sufficient resources to provide cash inflows through existing portfolio and stocks held in subsidiaries.

The planned issuance will enhance GYH's funding sources and meet the funding needs stemming from operational sources. A team of experienced risk oriented professionals and balance sheet composition based on a wide variety of group companies and operating sectors strengthen the Company against internal and external shocks. The Company outlooks in the long and short term perspective have been affirmed as 'Stable" with the opinion that the projects have a high realization capability and the stream of cash flows will be realized in accordance with the principal and interest payments.

Taking into consideration the dominant shareholders' financial strength and desire to support the Company, the scale of the Company, planned projects and sectorial expansion, GYH's Sponsor Support grade has been affirmed as (2), denoting an adequate level. The Stand Alone grade of the Company has been also affirmed as (B) considering the ability of the Company to manage its undertaken incurred risks, internal resource generation and current level of capitalization."

The details of the revised ratings are provided in the tables below:

Global Yatırım Holding A.Ş.	Istanbul – November 20, 2014
Long Term International Foreign Currency	BBB- / (Stable Outlook)
Long Term International Local Currency	BBB- / (Stable Outlook)
Long Term National Local Rating	BBB (Trk) / (Stable Outlook)
Short Term International Foreign Currency	A-3 / (Stable Outlook)
Short Term International Local Currency	A-3 / (Stable Outlook)
Short Term National Local Rating	A-3 (Trk) / (Stable Outlook)
Sponsor Support	2
Stand Alone	B

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About GYH
Global Yatırım Holding A.Ş. (Global Investment Holdings) was regrouped as a holding company on October 2004 (www.globalyatirim.com.tr) to hold a diversified portfolio of investments in a number of businesses, including infrastructure, real estate, energy, and financial services. Global Investment Holdings is listed on the Borsa Istanbul (as "GLYHO.IS") and utilizes its experience in the finance sector for industrial business opportunities.

It is our great pleasure to announce that Global Liman İşletmeleri A.Ş. (Global Ports Holding or GPH or the Company) has successfully issued its debut Eurobond with demand in excess of the targeted deal size. Although the book allowed to issue at the initial target of US$275 million at the desired price, in the light of feedback received from various investors in connection with the leverage ratios during the roadshow held between 29 October 2014 and 5 November 2014, the Company elected to take a conservative approach and scaled down the issue size to US$250 million with the participation of 56 select institutional investors.

The proceeds will be used to extend the maturity of the debt stock from the current 4.5 years to 7 years with c. US$50mn slated for potential acquisitions, particularly in cruise operations in order to further foster inorganic growth.

GPH holds 27-year port operation rights for four cruise terminals at the Barcelona Cruise Port and an annual operating license contract for the fifth cruise terminal, as well as 80% interest in the port operating rights for the Malaga Cruise Port and 40% interest in the Singapore Cruise Port. In December 2013, GPH finalized the acquisition of 62% of the Port of Bar in Montenegro and recently took over the operating rights of the cruise terminal in Lisbon, Portugal as a majority leader of a consortium. GPH stands proud to be the only Turkish operator of international ports, and with the latest addition of the Ports of Barcelona, Malaga and Singapore, commands a total passenger traffic of GPH of 4.2mn per annum.

Global Investment Holdings (GIH or the Group) reports consolidated revenues of TL257.3mn for the first nine months of 2014, representing an increase of 41% compared to the same period last year.

GIH announced its financial results for the first nine months of 2014. According to the disclosure, the consolidated net revenues reached TL257.3mn compared to TL182.8mn in the first nine months of 2013, representing an increase of 41%. This increase is due to robust operating performance of energy and port segments in the Group portfolio.

GIH also announced that, at the end of the first three quarters of 2014, Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) amounted to TL119mn, compared to TL97.1mn for the same period last year. Excluding goodwill gains from asset acquisitions amounting to TL51.9mn and TL54.5mn, respectively, the Group's Cash EBITDA in the first nine months of 2014 rose by 58% over the same period in 2013.

On a divisional basis, the Group's Port Division revenues reached TL137.8mn in the first three quarters of 2014, representing 28% increase over the same period in 2013. Robust operational performance of Turkish and overseas ports, higher per TUE revenue in Port Akdeniz and positive exchange rate differences were instrumental in the increase. The Group's Port Division reported an EBITDA of TL129.7mn in the first nine months of 2014, including TL51.9mn negative goodwill gain from the acquisition of majority stake in Creuers, compared to an EBITDA of TL61.1mn for the same period in 2013, representing an improvement of 28%. The Port of Bar's effect on the Group's EBITDA is TL2.4mn, representing 4% increase over the same period of 2013. The newly-acquired Port of Barcelona, Malaga and Lisbon contributed TL4mn EBITDA in equity pick up for the period.

The Energy Division's revenues posted an impressive turnaround in the first three quarters of the year, surging 136% over the same period of 2013. Division revenues consisted of mainly sales from CNG and mining operations, yet Naturelgaz's contribution was substantial, as CNG sales volumes almost tripled to 63.2mn m3 in the first nine months of 2014. Reported EBITDA of the Division totaled TL12.4mn, compared to a TL51.5mn in the same period of 2013, yet last year's figures included TL54.5mn in goodwill gains from asset acquisitions.

GIH reported a consolidated net profit of TL0.3mn in the first nine months of 2014, compared to a net loss of TL-16mn over the same period in 2013.

The Chief Financial Officer of the Group, Kerem Eser, commented on the highlights of the first nine months of the year, indicating that following the undisputable success of its Turkish ports, the Port Division has been maintaining its focus on inorganic growth overseas. "Consequently, after the acquisition of 43% of the Barcelona Port in partnership with RCCL last year, our port company, Global Ports Holding increased its effective stake to 62% in September 2014. The container volume of the Port of Bar acquired last in year grew by 20% and contributed TL15.5mn to consolidated revenues. In August 2014, Global Ports completed the share transfer of the Lisbon Cruise Terminal as a part of the consortium, of which Global Ports is the leading investor with 46% ownership." Mr. Eser indicated that, in addition to the newly acquired ports, the Turkish Ports continued with their robust operational performance and contributed significantly to the Group's overall success.

Furthermore, Mr. Eser underlined that, the Energy Division made substantial progress in the first three quarters of 2014. "Naturelgaz had a major breakthrough in CNG sales with first nine month revenues increasing by 128% and EBITDA finally moving into positive territory. Compared with the same period last year, the Division's profitability and hence contribution to Group EBITDA improved substantially in the first three quarters of the year."

Finally, Mr. Eser indicated that Tres Enerji, the Group's power solution company (tri/co-generation) and Straton, the feldspar mining company, which were acquired last year started to contribute positively to consolidated figures in the first nine months of 2014. Also helped with the ongoing investments, both companies were expected to show volume improvements in the remainder of the year.

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Further Information:
investor@global.com

About GIH
Global Yatırım Holding A.Ş. (Global Investment Holdings) was regrouped as a holding company on October 2004 (www.globalyatirim.com.tr) to hold a diversified portfolio of investments in a number of businesses, including infrastructure, real estate, energy, and financial services. Global Investment Holdings is listed on the Borsa Istanbul (as "GLYHO.IS") and utilizes its experience in the finance sector for industrial business opportunities.

Global Liman İşletmeleri A.Ş., owned by the publicly traded Global Yatırım Holding A.Ş. on Borsa Istanbul (BIST), the domestic operations of which include the management of Kuşadası, Bodrum passenger ports and Antalya commercial and cruise ports, intensified its operations in the fields of cruise and trade port management in order to transfer the know-how and experienced gained since 2H2013 onto the international field. In addition to the mentioned ports offering market demand and access opportunities in line with its organic and inorganic growth strategy, Global Liman won the privatization tender for the Karadağ Bar Port and as such took over significant amount of shares from the port's operating entity, entitling it to the Port's operating rights for 30 years. Furthermore, through a firm established in collaboration with Royal Caribbean Cruises Ltd, Global Liman took over all shares belonging to Creuers, the operator of Barcelona cruise passenger port. As such, Global Liman attained the status of major shareholder in Creusers. Global Liman also won the tender for the management rights of the Lisbon cruise passenger port via the joint venture of international firms and local partners and the take-over transactions have been completed.

The Company, one of the sector's leading players domestically through its high market share and the services provided to cruise ships and passengers turned into one of Europe's largest port operations with a capacity of 4 million cruise passengers owing to its international operations in the recent period. Including the self-managed and the ports operated via partnership with internationally renowned firms, the Company increased the number of ports to 8, conferring it with flexibility against volatility arising from geopolitical risks by broadening its geographic appeal. The contributions to Company profitability by the future revenue rises from operational activity fields carried onto the international stage and the acquisition of flexibility against volatility through the diversification of portfolio structure constitute the major factors underlying the revision of the long-term national outlook to positive.

The level of the shareholders' willingness to provide support to the Company and their financial strengths has been assessed as (2) in the Sponsor Support category whilst he Company's ability to manage the risks undertaken within its own capabilities has been assessed as (AB) in the Stand-Alone category. The (AB) grade in the Stand Alone category denotes a "high" level on the JCR Eurasia Rating Notation Scale and indicating its ability to meet its liabilities without external support, whilst the (2) grade in the Sponsor Support category denotes an "adequate" level of support.

The details of the revised ratings are provided in the tables below:

Global Liman İşletmeleri A.Ş.	Istanbul – October 02, 2014
Long Term International Foreign Currency	BBB-/ (Stable Outlook)
Long Term International Local Currency	BBB- / (Stable Outlook)
Long Term National Local Rating	A- (Trk) / (Positive Outlook)
Short Term International Foreign Currency	A - 3 / (Stable Outlook)
Short Term International Local Currency	A - 3 / (Stable Outlook)
Short Term National Local Rating	A-1+ (Trk) / (Stable Outlook)
Sponsor Support	2
Stand Alone	AB

Please do not hesitate to contact Investor Relations directly at investor@global.com.tr for any queries.
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www.globalyatirim.com
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About GYH:
Global Yatırım Holding A.Ş. (GYH) was regrouped as a holding company in October 2004 to hold a diversified portfolio of investments in a number of businesses, including infrastructure, real estate, energy, and financial services. GYH is listed on Borsa Istanbul (as GLYHO.IS) and utilizes its experience in the finance sector for industrial business opportunities.

About GPH:
Global Ports Holding (Global Port) has been established to utilize commercial and cruise port opportunities in Turkey and the wider region. Global Ports is a leading port group with operations in Turkey and internationally, currently managing eight leading cruise and commercial ports. Since 2003, the Global Ports has developed a portfolio of strategically located ports in Turkey and internationally, each providing exceptional hinterland access with strong market fundamentals.

Global Ports Holding (GPH), a fully-owned subsidiary of Global Investment Holdings and currently the operator of eight commercial and cruise ports in Turkey and internationally, completed the remaining share transfer of Creuers Del Port De Barcelona S.A. (Creuers) by increasing its stake in Barcelona Port Investments (BPI) in partnership with Royal Caribbean Cruises Ltd. As such, GPH's shares in Creuers increased to an effective 62%, making GPH the majority shareholder in the entity. GPH completed the acquisition of the 62% stake for a total consideration of Euro54,048,500. The long-term project financing to acquire Creuers shares has been provided by three of the largest banks in Spain, which are Banco Santander, S.A, Banco Bilbao Vizcaya Argentaria, S.A. ("BBVA") CaixaBank, S.A and Holland's Demir- Halk Bank (Nederland) N.V (DHB) and BBVA, the leading arranger in the consortium

BPI holds a 100% interest in Creuers which in turn holds 27-year port operation rights for four cruise terminals at the Barcelona Cruise Port and an annual operating license contract for the fifth cruise terminal, as well as 80% interest in the port operating rights for the Malaga Cruise Port and 40% interest in the Singapore Cruise Port. Comprised of five cruise terminals, the Barcelona Cruise Port is the largest passenger ports in the Mediterranean in terms of passenger arrivals and cruise calls. With an annual throughput of 2.7 million passengers, Creuers recorded an EBITDA of USD18.5mn in 2013.

Controling almost 50% of Turkey's total cruise passengers, Global Ports Holding serves more than 850,000 cruise passengers per annum in Turkey. In the first half of 2014, GPH reported an EBITDA of TL46.5mn, representing a 64% improvement from the same period last year. At the end of 2014, GPH's consolidated EBITDA is expected to top USD80mn on a full year proforma basis .

Mr. Narin, the CEO of GPH, indicated that the cruise industry entered a new era with the addition of the controlling stake of the Port of Barcelona into the GPH portfolio. Having focused on organic growth and consolidation of its existing Turkish ports over the past years, GPH was ready to press the button to become one of the leading commercial port operators regionally and the number one cruise operator globally. In December 2013, GPH finalized the acquisition of 62% of the Port of Bar in Montenegro and recently took over the operations of the cruise terminal in Lisbon, Portugal as a majority leader of a consortium. Today, GPH stands proud to be the only Turkish operator of international ports, and with the latest addition of the Ports of Barcelona, Malaga and Singapore, commands a total passenger traffic of GPH of 4.2mn per annum.

Please do not hesitate to contact Investor Relations directly at investor@global.com.tr for any queries.
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ir.globalyatirim.com.tr
www.globalyatirim.comfacebook.com/GLYHOIR
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About GYH:
Global Yatırım Holding A.Ş. (GYH) was regrouped as a holding company in October 2004 to hold a diversified portfolio of investments in a number of businesses, including infrastructure, real estate, energy, and financial services. GYH is listed on Borsa Istanbul (as GLYHO.IS) and utilizes its experience in the finance sector for industrial business opportunities.

About GPH:
Global Ports Holding (Global Port) has been established to utilize commercial and cruise port opportunities in Turkey and the wider region. Global Ports is a leading port group with operations in Turkey and internationally, currently managing eight leading cruise and commercial ports. Since 2003, the Global Ports has developed a portfolio of strategically located ports in Turkey and internationally, each providing exceptional hinterland access with strong market fundamentals.

Global Ports Holding (GPH), a fully-owned subsidiary of Global Investment Holdings and currently the operator of leading commercial and cruise ports in Turkey and internationally, completed the share transfer of the Lisbon Cruise Terminal as a part of the consortium comprised of Royal Caribbean Cruises Ltd, Creuers del Port de Barcelona, S.A. and Grupo Sousa – Investimentos SGPS, LDA. GPH is the lead investor with 40% of the consortium with 30% held by Grupo Sousa Investimentos SGPS, 20% by Royal Caribbean Cruises Ltd. and 10% by Creuers Del Port Barcelona S.A. As of today, GPH effectively owns 21.5% of Creuers in partnership by Royal Caribbean Cruises, and recently signed a binding share purchase agreement to increase its effective stake to 62%. Creuers operates the Port of Barcelona, Europe's largest cruise port with a passenger capacity of 1.8mn and is the majority shareholder of the Malaga Cruise Port and the minority shareholder of the Singapore Cruise Port. Upon completion of the Creuers transaction, GPH's effective stake in the Lisbon consortium will increase to 46.2%.

The 35-year Built Operate Transfer (BOT) of the Lisbon Cruise Terminal will include the construction and the operation of a landmark cruise terminal of 16,619m2 in total area, on a public-service concession basis, at the Lisbon Cruise Terminal. The total concession area available to the consortium covers 60,632m2. With the addition of the new terminal, which will reach 1425m in berth length and of 2mn of passenger capacity, the Port Authority of Lisbon aims to grow in calls and cruise passengers as well as turn-around operations, and as such double the current visitors of 550,000 passengers in the near future while contributing favorably to regional tourism and economy. The construction of the terminal is expected start in early 2015 with completion by the end of 2016 and is estimated to require c. Euro22mn in total investment.

Once completed, with the addition of Lisbon Cruise Port to the existing portfolio of Barcelona, Malaga, Singapore, Kuşadası, Bodrum and Antalya Ports, GPH will reach 10mn cruise passengers worldwide, making it the world's largest cruise operator.

www.globalyatirim.com.tr
www.globalports.com.tr

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investor@global.com.tr

About GYH:
Global Yatırım Holding A.Ş. (GYH) was regrouped as a holding company in October 2004 to hold a diversified portfolio of investments in a number of businesses, including infrastructure, real estate, energy, and financial services. GYH is listed on Borsa Istanbul (as GLYHO.IS) and utilizes its experience in the finance sector for industrial business opportunities.

About GPH:
Global Ports Holding (Global Port) has been established to utilize commercial and cruise port opportunities in Turkey and the wider region. Global Ports is a leading port group with operations in Turkey and internationally, currently managing eight leading cruise and commercial ports. Since 2003, the Global Ports has developed a portfolio of strategically located ports in Turkey and internationally, each providing exceptional hinterland access with strong market fundamentals.

Global Investment Holdings (GIH or the Group) reports consolidated revenues of TL158.5mn for the first half of 2014, representing an increase of 48% compared to the same period last year.

GIH announced its financial results for the first half of 2014. According to the disclosure, the consolidated net revenues reached TL158.5mn compared to TL107.0mn in H1 2013, representing an increase of 48%. This increase is due to robust operating performance of energy and port segments in the Group portfolio.

GIH also announced that, at the end of the first half of 2014, Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) amounted to TL41.3mn, compared to TL72.8mn for the same period last year, which included TL54.5mn in goodwill gains from asset acquisitions. Excluding these, the Group's Cash EBITDA in H1 2014 rose by 139% over the H1 2013.

On a divisional basis, the Group's Port Division revenues reached TL85.3mn in the first half of 2014, representing a 40% increase over the same period in 2013. Robust operational performance of various ports, higher per TUE revenue in Port Akdeniz and positive contribution from exchange rate differences were instrumental in the increase. The Group's Port Division reported an EBITDA of TL46.5mn in H1 2014, compared to an EBITDA of TL28.3mn for the same period in 2013, representing an improvement of 64%. Particularly noteworthy was the 52% EBITDA surge of the Turkish ports over H1 2013, contributing TL42.9mn to the division's overall EBITDA. A 24% expansion in container operations of the Port of Bar and dividend income from the Barcelona Port were the additional contributing factors.

The Energy Division's revenues posted an impressive turnaround in the first half of the year, surging 142% over the same period of 2013. Division revenues consisted of sales from CNG and mining operations, yet the major contribution came from Naturelgaz where CNG sales volume more than doubled to 35.3mn m3 in H1 2014. Reported EBITDA of the Division totaled TL12.3mn in the first half of 2014 compared to a TL53.2mn in the same period of 2013, yet last year's figures included TL54.5mn in goodwill gains from asset acquisitions.

GIH reported a consolidated net loss of TL-33.1mn in the first half of 2014, compared to a net profit of TL3.5mn in H1 2013. The main reasons behind the decrease were lower goodwill gains from acquisitions as well as higher depreciation and amortization charges. Specifically, 2013 profits included goodwill contribution amounting to 54.5mnTL arising from asset acquisitions and TL17.7mn lower depreciation charges.
The Chief Financial Officer of the Group, Kerem Eser, commented on the highlights of the first half of the year, indicating that following the undisputable success of its Turkish ports, the Port Division has been maintaining its focus on inorganic growth overseas. "Consequently, after the acquisition of 43% of the Barcelona Port in partnership with RCCL, the Division signed a binding and final Share Purchase Agreement to increase its effective stake to 62% in Creuers, subject to regulatory approval. The container volume of the Port of Bar which was acquired last year, grew by 24% and contributed TL10.8mn to consolidated revenues. In July 2014, a concession agreement was signed between Lisbon Port Authority and a consortium, of which Global Ports is the leading investor with 40% ownership. The share transfer will be completed upon securing the necessary permissions." Mr. Eser indicated that, in addition to the newly acquired ports, the Turkish Ports continued with their stellar performance and contributed significantly to the Group's overall success.
Furthermore, Mr. Eser underlined that, the Energy Division made substantial progress in the first half of 2014. "Naturelgaz finally had a breakthrough in CNG sales volumes, with an increase of 127% in H1 2014. Compared with the same period last year, the Divisions'' profitability and hence contribution to Group EBITDA improved substantially in the first half."
Finally, Mr. Eser indicated that Tres Enerji, the Group's power solution company (tri/co-generation) and Straton, the feldspar mining company, which were acquired last year started to contribute positively to consolidated figures in the first half of 2014. Also helped with the ongoing investments, both companies were expected to show substantial volume improvements during the year.

www.globalyatirim.com.tr

Further Information:
investor@global.com

About GIH
Global Yatırım Holding A.Ş. (Global Investment Holdings) was regrouped as a holding company on October 2004 (www.globalyatirim.com.tr) to hold a diversified portfolio of investments in a number of businesses, including infrastructure, real estate, energy, and financial services. Global Investment Holdings is listed on the Borsa Istanbul (as "GLYHO.IS") and utilizes its experience in the finance industry for industrial business opportunities.

Global Ports Holding (GPH), a fully-owned subsidiary of Global Investment Holdings and currently the operator of leading commercial and cruise ports in Turkey and internationally had announced on January 17th 2014 that it was selected as the preferred bidder for the Built Operate Transfer (BOT) contract of the Lisbon Cruise Terminal as a part of the consortium comprising of Royal Caribbean Cruises Ltd, Creuers del Port de Barcelona, S.A. and Grupo Sousa – Investimentos SGPS, LDA. GPH is the lead investor with 40% of the consortium with 30% held by Grupo Sousa Investimentos SGPS, 20% by Royal Caribbean Cruises Ltd. and 10% by Creuers Del Port Barcelona S.A. As of today, GPH effectively owns 21.5% of Creuers in partnership by Royal Caribbean Cruises, and recently signed a binding share purchase agreement to increase its effective stake to 62%.

GPH, today announced that the concession agreement was approved by the Competition Authority and the Court of Accounts, and was signed between Lizbon Port Authority and LCT-Lisbon Cruise Terminals, LDA set up by the consortium. The share transfer will be completed between 30-60 days, upon securing the necessary permissions.

The 35-year contract will include the construction and the operation of a landmark cruise terminal, on a public-service concession basis, at the Lisbon Cruise Terminal. With this new terminal, the Port Authority of Lisbon aims to grow in calls and cruise passengers, as well as increasing the turn-around operations with a view to double the current traffic of 550,000 passengers in the medium term. The new terminal is expected to provide the port with estimated 1.8mn passengers while supporting the growth of turnaround business and as such contributing favorably to regional tourism and economy. The construction of the new Lisbon Cruise Terminal is estimated to require c. Euro22mn in total investment.

www.globalyatirim.com.tr

www.globalports.com.tr

For Further Information

investor@global.com.tr

About GYH:

Global Yatırım Holding A.Ş. (GYH) was regrouped as a holding company in October 2004 to hold a diversified portfolio of investments in a number of businesses, including infrastructure, real estate, energy, and financial services. GYH is listed on Borsa Istanbul (as GLYHO.IS) and utilizes its experience in the finance sector for industrial business opportunities.

About GPH:
Global Ports Holding (Global Port) has been established to utilize commercial and cruise port opportunities in Turkey and the wider region. Global Ports is a leading port group with operations in Turkey and internationally, currently managing eight leading cruise and commercial ports. Since 2003, the Global Ports has developed a portfolio of strategically located ports in Turkey and internationally, each providing exceptional hinterland access with strong market demand fundamentals.

Global Investment Holdings (GIH or the Group) reports consolidated revenues of TL66.5mn for the 1st Quarter of 2014, representing an increase of 54% compared to the same period last year.

GIH announced its financial results for the first quarter of 2014. According to the disclosure, the consolidated net revenues reached TL66.5mn compared to TL43.2mn, representing an increase of 54% for the same period last year. The TL23.3mn difference is due to the robust operating performance of all main business divisions in the group portfolio. Port and Energy Divisions, in particular, were the largest contributors to the group consolidated revenues.

GIH also announced that, at the end of first quarter of 2014, Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) amounted to TL11.0mn, compared to TL5.5mn for the same period last year, including TL2.8mn in goodwill gains from asset acquisitions.

On a divisional basis, the Group's Port Division revenues reached TL36.3mn in the first quarter of 2014, representing a 64% increase over the same period in 2013. Commercial port activities, and, in particular, the operational performance of the Port of Antalya and the Port of Bar were instrumental in the increase. The Group's Port Division reported an EBITDA of TL15.8mn in Q1 2014, compared to an EBITDA of TL8.6mn for the same period in 2013, representing an improvement of 84%. The Port of Bar and the Barcelona Port, the two most recent additions to the Group's ports portfolio, contributed to consolidated EBITDA by TL1.3mn and TL1.7mn, respectively.

The Energy Division reported revenues of TL22.7mn in the first quarter of 2014. The division revenues in the first three months of 2014 included sales from CNG and mining operations. Reported EBITDA was TL3.3mn in the first quarter of 2014 compared to a TL2.4mn in the same period of 2013, including TL2.8mn in goodwill gains from asset acquisitions.

GIH reported a net loss of TL26.5mn in Q1 2014, versus a consolidated net loss of TL19.8mn in Q1 2013. The main reasons behind the loss in Q1 2014 were depreciation and amortization charges of TL20.0mn (an increase of TL8.4mn compared to the same period in 2013) and foreign exchange differences amounting to TL2.7mn incurred on Group's long term loans (an increase of TL1.9mn compared to the same period in 2013).

The Chief Financial Officer of the Group, Kerem Eser, commenting on the highlights of the previous quarter, indicated that following the undisputable success of its Turkish ports, the Port Division has been maintaining its focus on inorganic growth overseas. "In that vein, after the acquisition of 43% of the Barcelona Port in partnership with RCCL, the Division signed a preliminary protocol to increase its shares to 78.07%. The container volume of the Port of Bar which was acquired last year, grew by 42% and contributed TL5.9mn to consolidated revenues. Subsequently, the consortium won the Lisbon Port tender in January 2014 and the concession agreement is expected to be signed upon securing the necessary permissions.
Furthermore, Mr. Eser underlined that, the Energy Division made substantial progress in the first quarter of 2014. "Naturelgaz's CNG sales volume increased by 72% in the first quarter, compared to same period last year, and with the contribution of the new contract with Çaykur secured in Q1 2014, the Company's profitability will increase significantly in 2014."
Finally, Mr. Eser indicated that Tres Enerji, the Group's power solution company (tri/co-generation) and Straton, the feldspar mining company, which were acquired last year started to contribute positively to consolidated figures in the first quarter of 2014. Also helped with the ongoing investments, both companies were expected to show substantial volume improvements during the year.

www.globalyatirim.com.tr

Further Information:
investor@global.com

About GIH
Global Yatırım Holding A.Ş. (Global Investment Holdings) was regrouped as a holding company on October 2004 (www.globalyatirim.com.tr) to hold a diversified portfolio of investments in a number of businesses, including infrastructure, real estate, energy, and financial services. Global Investment Holdings is listed on the Borsa Istanbul (as "GLYHO.IS") and utilizes its experience in the finance sector, for industrial business opportunities.

Global Investment Holdings (GIH or the Group) reported consolidated revenues of TL247.3mn in 2013, compared to TL166.3mn for the same period last year, representing an increase of 49%.

GIH announced its financial results for 2013. According to the disclosure, consolidated net revenues reached TL247.3mn compared to TL166.3mn last year, representing an increase of 49%. This increase is due to robust operating performance of all business divisions in the Group with the Port and Energy Divisions specifically being the largest contributors to consolidated revenues.
Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) amounted to TL190.0mn, including TL109.7mn in goodwill gain from the acquisitions of the Port of Bar, Naturelgaz and Straton Maden. The comparable figure for 2012 was TL208.3mn incorporating TL163.0mn gain from asset sales and acquisitions.
On a divisional basis, the Group's Port Division revenues reached TL149.0mn in 2013 compared to TL122.4mn in 2012, representing an improvement of 17%. Commercial port activities, and, in particular, the operational performance of the Port of Antalya were instrumental in the increase. The division's normalized EBITDA was TL93.9mn compared to an EBITDA of TL80.2mn in 2012.
The Group's Energy Division revenues in 2013 consisted of sales of CNG and feldspar amounting to TL63.3mn in total. EBITDA of the Division stood at TL53.1mn for 2012 compared to TL3.1mn for the same period last year. 2013 EBITDA included negative goodwill gain of TL54.5mn arising from energy asset acquisitions, whereas this figure was TL12.8mn in 2012.
Finally, GIH reported a consolidated net profit of TL29.1mn in 2013, compared to net profit of TL108.4mn in the previous year. The main reasons behind the decrease were foreign exchange differences amounting to TL46.9mn incurred on Group's long term loans, and depreciation and amortization charges of TL60.0mn, triggered by asset acquisitions. Also, as a result of the dividend distribution, deferred tax assets decreased by TL15.4mn in 2013.
The Chief Financial Officer of the Group, Kerem Eser, commenting on the highlights of the previous year, indicated that the Share Repurchase Program was completed in late 2013 and 20,791,765 shares, representing 9.24% of the Company's share capital were repurchased. As such, GIH has distributed TL0.1443/share of 'dividend equivalent' to its investors in addition to TL0,05940/share cash dividend paid in 2013.
Furthermore, Mr. Eser referring to the international port acquisitions of 2013, mentioned that following the undisputable success of its Turkish ports, the Port Division has been focusing on inorganic growth overseas. "In that vein, the Division completed the acquisition of 62% of the Port of Bar and 43% shares of Barcelona Port in partnership with RCC. The Group is excited about this transaction also because it is the first time a Turkish company acquires the majority ownership of a port operation overseas."
Mr. Eser, concluded by stating that the management is pleased with Group's cash generating capacity. In fact, Mr. Eser underlined that all business segments were cash positive in 2013. Finally, Mr. Eser mentioned that the focus on maintaining Group profitability and building on dividend stream from energy, mining and real estate investments would continue to be the driving force of the Group's operations.

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About GIH

Global Yatırım Holding A.Ş. (Global Investment Holdings) was regrouped as a holding company in October 2004 (www.globalyatirim.com.tr) to hold a diversified portfolio of investments in a number of businesses, including infrastructure, real estate, energy, and financial services. Global Investment Holdings is listed on Borsa Istanbul (as GLYHO.IS) and utilizes its experience in the finance sector for industrial business opportunities.

Global Eneji (GE), a fully-owned subsidiary of Global Yatırım Holding (GYH) announces that it has reached an agreement with Akkök Sanayi Yatırım ve Geliştirme A.Ş. (Akkök) for the 55% share transfer of ownership in the Sirnak Power Plant, a 270MW asphaltite-powered electricty plant of circulating fluidized bed boiler technology located in Sirnak, south east Turkey.

Contingent on satisfactory due diliginence and pending approvals of the Energy Market Regulatory Board and Turkish Competition Authority, 55% of Geliş Madencilik Enerji İnşaat Ticaret A.Ş. (Geliş Madencilik) and 55% of Galata Enerji Üretim Sanayi ve Ticaret A.Ş. (Galata Enerji) will be transferred to Akkök by GE, which currently owns 85% in both entities.

Commercial terms of the share transfer will be released after the completion of the due process.

Kanat Emiroğlu, the Chairman of GE, noting the parties have reached a tentative agreement for a possible partnerhip in the Sirnak Power Plant added that " Akkok is one of the most significant electricity producers in the country as well as being a sizeable industrial consumer. Additionally, their experience in running complicated EPC contracts and expertise in retail, trading and generation parts of the energy value chain were critical in our selection process."

Mr. Emiroğlu continued as "The Sinak power plant will be among the most efficient power producers in the country. Utilizing the locally-procured asphaltite, it will contribute towards lower energy imports and a sustainable reduction in the current account deficit. The current project envisages the contruction of a 135+135 MW plant, yet reserve estimates point to sufficient reseources to support a significantly higher capacity. In this regard, the choice of Akkok as a potential partner is important; the group has the ability and the willingness to travel the next mile with us in maximizing the potential on the ground. Moreover, the plant will be the largest industrial development in the region, and as the leading private sector employer will provide significant employment opportunities to the residents of Sirnak and the viscinity."

Finally, Mr. Emiroğlu remarked that partnership with a strong group like Akkok, if materialized, would enable GE to divert resources to other attractive projects the company is currently pursuing in the energy sphere.

We will continue to keep you abreast of the developments.

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About GYH:
Global Yatırım Holding A.Ş. (GYH) was regrouped as a holding company in October 2004 to hold a diversified portfolio of investments in a number of businesses, including infrastructure, real estate, energy, and financial services. GYH is listed on Borsa Istanbul (as GLYHO.IS) and utilizes its experience in the finance sector for industrial business opportunities.

About GE:
GE, a wholly owned subsidiary of GIH has been established to create a robust platform for the energy sector investments of the Group. GE owns 80% of Naturelgaz, a company engaged in the sale and distribution of compressed natural gas. GE is also developing a thermal power generation plant, and is expanding the scope of its energy operations with solar and other renewable energy projects, each at various stages of development. GE has also invested in tri-generation as well as in mining of feldspar.

Global Ports Holding ("GPH" or the "Company"), a fully-owned subsidiary of Global Yatırım Holding and currently the operator of three leading commercial and cruise ports in Turkey announces that it has been selected as the preferred bidder, as part of a consortium comprising Royal Caribbean Cruises Ltd, Creuers del Port de Barcelona, S.A. and Grupo Sousa – Investimentos SGPS, LDA, for the Built Operate Transfer (BOT) contract of the Lisbon Cruise Terminal. The 35-year contract will include the construction and the operation of a landmark cruise terminal, on a public-service concession basis, at the Lisbon Cruise Terminal.

With this new terminal, the Port Authority of Lisbon aims to grow in calls, cruise passengers, as well as increasing the turn-around operations with a view to double the current traffic of 550,000 passengers in the medium term. The new terminal is expected to provide the port with an estimated 1.8mn passengers while supporting the growth of turnaround business and as such contributing favorably to regional tourism and economy. The construction of the new Lisbon Cruise Terminal, estimated to cost c. Euro24mn in total investment, will start in early 2014 with expected completion by the end of 2015.

Arpak Demircan, the Deputy CEO of GPH, said "We, as GPH, have been targeting organic growth till now while revamping efficiency, systems and marketing processes in our Turkish ports. Having also successfully integrated our three ports, we are currently focusing on inorganic growth. In that vein, we acquired 62% of the Port of Bar and 43% of Creuers del Port de Barcelona, S.A. through Barcelona Port Investments in partnership with Royal Caribbean Cruises Ltd., one of the world's leading cruise operators. Now, joining forces again with Royal Caribbean, we are targeting to add the Lisbon cruise terminal to our expanding portfolio of international assets. Once completed, with the addition of Lisbon Cruise Port to the existing portfolio of Barcelona, Malaga, Singapore, Kuşadası, Bodrum and Antalya Ports, GPH will reach 10mn cruise passengers worldwide and this will make us the world's largest cruise operator."

GPH has bid for the concession in an SPV wherein 40% is held by GPH, 30% by Grupo Sousa Investimentos SGPS, 20% by Royal Caribbean Cruises Ltd. and 10% by Creuers Del Port Barcelona S.A.

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For Further Information
investor@global.com.tr

About GYH:

Global Yatırım Holding A.Ş. (GYH) was regrouped as a holding company in October 2004 to hold a diversified portfolio of investments in a number of businesses, including infrastructure, real estate, energy, and financial services. GYH is listed on Borsa Istanbul (as GLYHO.IS) and utilizes its experience in the finance sector for industrial business opportunities.

About GPH:
Global Ports Holding (Global Port) has been established to utilize commercial and cruise port opportunities in Turkey and the Mediterranean area. Global Ports is a unique port group and operator in Turkey, currently managing three leading cruise and commercial ports. Since 2003, the Global Ports has developed a portfolio of strategically located ports in Turkey, each providing exceptional hinterland access with strong market demand fundamentals. Global Port is also the largest port operator with 50% of the Turkish cruise port market on the basis of number of cruise passengers received in 2012.