TO : INVESTMENT COMMUNITY FROM : GARANTI BANK / Investor Relations Tel: (90 212) 318 2352 Fax: (90-212) 216 5902 E-mail: investorrelations@garanti.com.tr SUBJECT : Announcement regarding Corporate Governance Rating DATE : December 11, 2014

Our Bank has signed an agreement with JCR Eurasia Rating, which is an authorized rating agency operating under the license of the Capital Markets Board of Turkey ("CMB") in accordance with the Corporate Governance Principles issued by the CMB, on 17.07.2014 for a period of two years. As a result of JCR Eurasia Rating assessment, the Bank's Corporate Governance Rating is given a score of 9.14 over
10.
The Bank's overall Corporate Governance Rating is determined, in compliance with the relevant regulations of the CMB, under the weighted sub-sections (Shareholders, Public Disclosure and Transparency, Stakeholders, Board of Directors). The overall Corporate Governance Rating and sub-section ratings are as below:

Sections

Weight

Score

Shareholders

25%

9.07

Public Disclosure and Transparency

25%

9.25

Stakeholders

15%

9.05

Board of Directors

35%

9.15

Total

9.14

Corporate Governance Rating Report prepared by JCR Eurasia Rating is accessible on the Bank's web site www.garanti.com.trand www.garantiinvestorrelations.com
In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.
We declare that our above statements are in conformity with the principles included in the Board's Communiqué, Serial VIII Nr. 54., that it exactly reflects the information we received; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.
Yours sincerely, Garanti Bank

distributed by