Meeting Minutes

05/07/2005
Letter dated 05.07.2005 of Park Elektrik Madencilik Sanayi ve Ticaret A.Ş. is as follows:
Subject: Disclosure made as per Communiqué Series VIII and No. 39 of the Capital Market Board.
At Board of Directors Meeting of our Company held on the date of July 5, 2005; within the scope of the ongoing investments of the Company in Siirt Madenköy; it was resolved that a memorandum of understanding would be signed with Outokumpu Technology Minerals Oy for execution of technology supply agreement within 15 days and the costs of machineries, equipment and service to be purchased within the scope of this agreement would be Euro 3.350.000.

28/06/2005
Letter dated 28.06.2005 of Park Elektrik Madencilik Sanayi ve Ticaret A.Ş. is as follows:
Subject: Disclosure made as per Communiqué Series VIII and No. 39 of the Capital Market Board.
At Board of Directors Meeting of our Company held on the date of June 28, 2005, it was resolved that headquarters of our company still located at the address of Şehit Muhtar Cad. No:56 Taksim-İstanbul would be moved to the address of Paşalimanı Caddesi No:73 Üsküdar-İstanbul as of 01.07.2005 and our Company would continue its activities at the new address. New telephone and fax numbers to be communicated as of the date of 01.07.2005 are as follows.
Telephone: 0216 531 24 00
Fax : 0216 531 25 71

27/06/2005
Letter dated 27.06.2005 of Park Elektrik Madencilik Sanayi ve Ticaret A.Ş. is as follows:
Subject: Disclosure made as per Communiqué Series VIII and No. 39 of the Capital Market Board.
At Board of Directors Meeting of our Company held on the date of 27.06.2005;
It was resolved that requests of Yakupoğlu and Fercan Aykutlu, members of the Board of Directors, for resignation would be accepted; Biltekin Özdemir (independent member) and Aydın Ağan Ayaydın (independent member) would be appointed to the vacant memberships and they would be granted A group signature authority; Biltekin Özdemir, Ali Ergin Şahin and Süleyman Uyan would be appointed to the memberships of the Auditing Committee of our Company; and Biltekin Özdemir would be appointed to be the Chairman of the Auditing Committee of the Company; Aydın Ağan Ayaydın, Nalan Erkarakaş and Ali Coşkun Duyak would be appointed to the memberships of corporate governance and appointment committee; and Nalan Erkarakaş would be appointed to be the chairman of the corporate governance and appointment committee.

24/06/2005
Letter dated 24.06.2005 of Park Elektrik Madencilik Sanayi ve Ticaret A.Ş. is as follows:
“Subject: Disclosure made as per Communiqué Series VIII and No. 39 of the Capital Market Board At Board of Directors Meeting of our Company held on the date of June 24, 2005, Resolution No. 35 regarding distribution of tasks of the Members of the Board of Directors and representation of the Company was passed. As per the Resolution, a distribution of tasks was made between the members elected to the Board of Directors for a term of 3 years; and Nalan Erkarakaş would be appointed to be Chairman of the Board of Directors; Ali Coşkun Duyak to be Vice Chairman; Ayhan Sami Çağatay, Ömer Yenel, Süleyman Uyan, Gürsel Usta, Fercan Aykutlu, Hulki Yaprakoğlu and Ali Ergin Şahin to be members of the Board of Directors; and Süleyman Uyan, member of the Board of Directors would be appointed to be delegate member.

27/05/2005
Letter dated 27.05.2005 of Park Elektrik Madencilik Sanayi ve Ticaret A.Ş.is as follows:
At Board of Directors Meeting dated 27.05.2005 and numbered 32;
Financial statements and Independent Audit Report issued according to Communiqué dated 31.03.2005 and Series XI/25 were examined and approved by our Auditing Committee and it was determined by our Board of Directors that they do not have any false or missing statement, which may cause the statements and reports to be misleading as of the publication date. It was determined that the financial statements and other financial matters in the report accurately reflect the truth on the financial status and activity results as of the term to which the report is related and they were accepted within this frame. Additionally, it was resolved that the Audit Report issued by Kavram Denetim ve Yeminli Mali Müşavirlik A.Ş. would be sent to the Capital Market Board and Istanbul Stock Exchange for publication as per Decision dated 05.06.2003 and numbered 29/692 of the Capital Market Board.

26/04/2005
Letter dated 25.04.2005 of Park Elektrik Madencilik Sanayi ve Ticaret A.Ş. is as follows:
Financial tables dated 31.12.2004 of our Company, announced to the public on the date of 10.03.2005, were changed as a result of the mistake made in calculation of the tax consideration. Independent audit report, which was rearranged and would be presented to the General Assembly together with its annexes, regarding the financial tables for the fiscal period ending on the date of 31.12.2004, were approved at Board of Directors Meeting dated 25.04.2005 and numbered 25 of our Company and submitted for your information as enclosure to our letter together with the disclosure made as per Communiqué Series X and No. 16. The relevant declaration text and corrected financial tables are attached and updated in the internet site of our stock exchange.

26/04/2005
Letter dated 26.04.2005 of Park Elektrik Madencilik Sanayi ve Ticaret A.Ş. is as follows:
Board of Directors of our Company convened on the date of 26.04.2005 at 04.00 p.m. and resolved under Resolution No. 2005/26 that; 1. Ordinary General Assembly Meeting of our Company for the year would be held on the date of June 14, 2005 Tuesday at 11.00 a.m. at the headquarters of the Company at the address of Taksim, Şehitmuhtar Caddesi No:56 Beyoğlu, İstanbul
2. Although period profit was noticed in the financial statements of the year 2004 corrected according to the inflation as per the tax legislation of our Company besides other agenda items, the recommendation of the Board of Directors regarding non-distribution of profit, remained after setting aside legal reserves from the legal records as there was no period loss in the financial statements arranged according to the Capital Market Law would be presented to the General Assembly for approval.
3. Corporate Governance Conformity Report and Information Policy issued and accepted within the frame of Capital Market Board Corporate Governance Principles upon Decision dated 10.12.2004 and numbered 48/1588 would be presented for the information of the General Assembly.
4.Prepataions regarding establishment of Investors Relations Department, Corporate Governance and Appointment Committee, Secretariat of the Board of Directors, Risk Management and Internal Control Mechanism were examined and it was resolved that Buğra Baban would be appointed to be the manager of the Investors Relations Department and İsmail Aytuğ would be appointed to be the secretary of the Board of Directors
5. Appointment of Kavram Denetim ve Yeminli Mali Müşavirlik A.Ş. for independent auditing of the financial tables for the year 2005 and 2006 would be presented to the General Assembly for approval.The agenda includes the following items:
Discussion and resolution on amendments drafts, which were issued by the Board of Directors and for which permissions were obtained from the Capital Market Board and the Ministry of Industry and Trade, relating to Article 6 titled “Capital”, Article 8 titled “Term of the Board of Directors, Article 10 titled Auditors and their Duties”, Article 11 titled “General Assembly”, Article 12 titled “Presence of Observer at the Meeting”, Article 13 titled “Announcement”.
Former and new versions of the relevant articles of the articles of association and agenda of the General Assembly meeting are enclosed.

25/04/2005
Letter dated 25.04.2005 of Park Elektrik Madencilik Sanayi ve Ticaret A.Ş. is as follows:
At Board of Directors Meeting dated 25.04.2005 and numbered 25;
Financial statements and Independent Audit Report, reissued according to Communiqué dated Series XI and No. 20 as a result of correction of the tax consideration, detected to have been miscalculated during the issuance of the corporate tax declaration of the Company for the 2004, were examined and approved by our Auditing Committee and it was determined by our Board of Directors that they do not have any false or missing statement, which may cause the statements and reports to be misleading as of the publication date. It was determined that the financial statements and other financial matters in the report accurately reflect the truth on the financial status and activity results as of the term to which the report is related and they were accepted within this frame. Additionally, it was resolved that the Audit Report issued by Kavram Denetim ve Yeminli Mali Müşavirlik A.Ş. would be sent to the Capital Market Board and Istanbul Stock Exchange for publication as per Decision dated 05.06.2003 and numbered 29/692 of the Capital Market Board. As a result of the corrections made; the following were changed as;
Net Period Loss : From YTL 1,662,263 to YTL 1,396,603,
Tax Consideration : From YTL 1,866,162 to YTL 1,586,553,
Period Profit : From YTL 203,899 to YTL 189,950,
General Management Expenses : From YTL 4,188,557 to YTL 4,202,506

06/04/2005
Letter dated 06.04.2005 of Park Elektrik Madencilik Sanayi ve Ticaret A.Ş. is as follows: “Subject: Disclosure made as per Communiqué Series VIII and No. 39 of the Capital Market Board At At Meeting of our Board of Directors dated 06.04.2005 and numbered 22, it was unanimously resolved that lists of machinery and equipment to be supplied from the country and abroad due to addition of a process facility to ongoing investment of our Company in Siirt Province Şirvan Town Madenköy District within the scope of incentive certificate dated 14.09.2004 and numbered 76903 would be revised; global list changes would be made in the relevant incentive certificate; and an application would be filed with the Treasury of the Prime Ministry of the Republic of Turkey relating to the matter.

05/04/2005
Letter dated 05.04.2005 of Park Elektrik Madencilik Sanayi ve Ticaret A.Ş. is as follows It was unanimously resolved that articles of associations amendment drafts would be re-arranged as stipulated by the Capital Market Board within the frame of Special Event of Disclosure dated March 16, 2005 and Corporate Governance Principles announced to the public and the relevant articles would be amended as enclosed hereto as per Resolution No. 21 passed at the Board of Directors Meeting dated April 5, 2005; and the permissions relating to the matter would be obtained.
Amendment draft of the articles of association is enclosed hereto.

01/04/2005
Letter dated 01.04.2005 Park Elektrik Madencilik Sanayi ve Ticaret A.Ş. is as follows:
Subject: Disclosure made as per Communiqué Series VIII and No. 39 of the Capital Market Board.
Upon approval by the Capital Market Board of our request for participation at a rate of 45% in Tufanbeyli Elektrik Üretim Sanayi ve Ticaret Anonim Şirketi, planning to generate electricity under generation license with a term of 30 years by establishing a 300 MW Thermic Power Plant in Adana Province Ceyhan Town Tufanbeyli District within the frame of the electricity generation activity of our Company, as announced by Special Event of Disclosure dated March 11, 2005; at Board of Directors Meeting of our Company dated 01.04.2005 and numbered 20, it was unanimously resolved that our Company would participate in Tufanbeyli Elektrik Üretim Sanayi ve Ticaret Anonim Şirketi at a rate of 45% by the way of share transfer from Park Teknik Elektrik Madencilik Turizm Sanayi ve Ticaret A.Ş. at a nominal value of YTL 40,050,000.-; and the relevant share transfer transaction would be finalized.