PARIS (Standard&Poor's CreditWire) April 17, 2001--Following Standard&Poor's lowering of its long-term ratings on the Republic of Turkey (see press release dated April 16, 2001), Standard&Poor's today lowered by one notch all its ratings--including the long-term corporate credit ratings to single-'B'-minus--on Turkcell Iletisim Hizmetleri A.S. (Turkcell), Turkey's leading operator of cellular global systems for mobile communications, the latter's guaranteed financing vehicle Cellco Finance N.V., and on Vestel Elektronik Sanayi Ve Ticaret A.S. (Vestel), an integrated, low-cost Turkish manufacturer of televisions and personal-computer monitors. All the ratings remain on CreditWatch, where they were placed with negative implications on Feb. 21, 2001. (See list below for all ratings affected.) Turkcell continues to post solid business fundamentals--such as
