OFFERING MEMORANDUM CONFIDENTIAL - Coca Cola İçecek

The following table sets forth the high and low Central Bank exchange rates expressed as the number of New TurkishLira per U.S. dollar, for each of the periods indicated:Month: High LowOctober 2005........................................................................................................................................................ 1.3649 1.3368November 2005.................................................................................................................................................... 1.3644 1.3433December 2005 .................................................................................................................................................... 1.3527 1.3370January 2006 ........................................................................................................................................................ 1.3441 1.3156February 2006 ...................................................................................................................................................... 1.3322 1.3060March 2006 .......................................................................................................................................................... 1.3562 1.2964April 2006 ............................................................................................................................................................ 1.3440 1.3168The YTL/U.S. dollar exchange rate in effect on May 4, 2006 was YTL1.3104 = $1.00.Pursuant to Law No. 5083 on the Currency of the Republic of Turkey, with effect from January 1, 2005, the currencyof Turkey was redenominated, with one million New Turkish Lira being converted into a new unit of currency known as the"New Turkish Lira." The smallest unit of currency is now the "New Kuruş," which represents one hundredth of a New TurkishLira.CAPITALIZATIONThe following table sets forth our capitalization as of December 31, 2005, both on an actual basis and as adjusted toreflect the proceeds to our subsidiary CCSD from the sale of Class C Shares offered in this offering, after deductingunderwriting discounts and commissions and CCSD's pro rata share of the estimated offering expenses. You should read thistable in conjunction with "Selected CCI Consolidated Financial and Operating Data," "Management's Discussion and Analysisof Financial Condition and Results of Operations" and our IFRS Financial Statements and the related notes thereto includedelsewhere in this offering memorandum.As of December 31, 2005Actual As Adjusted(in thousands of YTL)Debt:Short-term debt:Bank indebtedness ............................................................................................................................. 320,498 320,498Private Placement Trust Certificates ................................................................................................. 9,576 9,576Capital lease obligations .................................................................................................................... 1,231 1,231Total short-term debt ......................................................................................................................... 331,305 331,305Long-term debt:Bank indebtedness ............................................................................................................................. 8,722 8,722Private Placement Trust Certificates ................................................................................................. — —Capital lease obligations .................................................................................................................... — —Total long-term debt .......................................................................................................................... 8,722 8,722Total debt ........................................................................................................................................... 340,027 340,027Shareholders' Equity:Issued capital...................................................................................................................................... 250,752 250,752Share premium................................................................................................................................... 169,882 189,613Treasury shares .................................................................................................................................. (58,556) —Legal reserves and accumulated profits ............................................................................................ 316,921 316,921Total shareholders' equity.................................................................................................................. 678,999 757,286Total capitalization............................................................................................................................. 1,019,026 1,097,313Class C Shares held by CCSD are being offered as part of this offering. Because CCSD is our subsidiary, these Class CShares are considered to be treasury shares. The net proceeds received by CCSD in connection with the sale of its Class CShares (YTL87.1 million) will be recognized directly in Shareholder's equity and will not be reflected in the income statement.The difference between the net proceeds from such sale and the book value of such treasury shares (YTL58.6 million), net of30% corporate tax (YTL19.7 million), will be credited to Share premium. Corporate tax will be computed based on the bookvalue of treasury shares as recorded in our statutory books (YTL57.8 million). The book value of such treasury shares in the