The oil prices have increased unexpectedly in 2005 and we have reflected 45% of the extra cost of this increase to our freight rates as “Fuel Price Increase Adjustment” as of September 10, 2005. In the following year, oil prices kept increasing. The price was 265$/ton when we increased our freight rates and it went up to 340$/ton. Our fuel costs have increased $16 million between 2005 and 2006.

As of 6.9.2006, B.A.F (Bunker Adjustment Factor) will be increased by  €125  for complete units (round-trip), € 95 for semi-trailers (round-trip) and €130 for long vehicles (round-trip). Also, Ambarli and Pendik rates will be equalized.

As of Monday 11.09.2006, our freight rates will be:

Regards,

Cpt. Cemil BAYÜLGEN

General Manager