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DECREE POOL

Millî Reasürans T.A.S. accepts since 1970 a certain share from all kinds of reinsurance contracts of the insurance companies in Turkey due to various decrees issued in relation with the Decree No.17 in respect of the Protection of Turkish Currency's Value and pools this business under a separate account which is protected in accordance with the underwriting technics, retroceding the same to the insurance companies willing to accept any share to be retained in their net accounts. Thus, avoiding the outflow of premium from the country, it is kept as an additional retention under the scope of "Decree Pool". The premium of the Pool since inception reached US Dollars 594.5 million at the end of 2004.