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2. Allocation of shares regarding repurchase programs, share

acquisition programs to personnel, or other allocations of

shares to the personnel of the issuer or subsidiaries under the

regulations of the Capital Markets Board,

3. The sale or purchase of capital markets instruments, or giving

orders, or cancellation of orders in order to maintain the mar-

ket price of such instruments in a determined period, provided

that such transactions are concluded in conformity with the

provisions of Capital Markets Law No. 6362 regarding the

transactions on price stability and market making,

The professional activities of journalists conducted in accordance

with journalism ethics and standards provided that;

a) an unfair advantage is not directly or indirectly obtained

through the publishing of news or comments; or

b) news or comments are not published in agreement with, or

under the guidance of, persons who have committed abuses of

information or market manipulation crimes; or

the relevant capital markets instrument are not traded with, or such

information is not disclosed to, third parties before publishing the news

or comments.

Conclusion

The Communiqué of the Capital Markets Board provided for the

acts and actions distorting the reliable, open, and stable functioning of

stock markets and other organized markets, and the Communiqué

defines actions that affect the price of capital market instruments, the

decisions of investors, distorting the competition, and the fair and cor-

rect functioning of the transactions.

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NEWSLETTER 2015