Turkish Economy reached a growth rate around 4 % in 2007; however inflation target could not been achieved. The increasing oil , raw material prices and fluctuations in the global markets indicate that we have to be more cautious in 2008.

Corrugated Box sector growth was in line with the economic growth in 2007. Although, our Bursa Plant could not support our operation during the major part of the year, OLMUKSA achieved parallel growth to the economy and sector. In 2007, net profit increased to 28,5 TRY million and sales with an increase of 6 % , realized as 230 TRY million.

After the fire at our Bursa Plant in August 2006, construction has been completed rapidly. During the second half of 2007 plant started to give service our customers with new and modern machines. During the absence of our Bursa plant, our other plants supplied Bursa region customers successfully. Furthermore, Antalya Plant which was constructed during 2007 started to operate at the end of the year.

OLMUKSA targets to grow over the Turkish economy and corrugated box sector in 2008. Growth will be supported by the modernization and capacity increase investments which will be in line with the continuously increasing and changing expectations of the customers and the market.

Our main target in 2008 is to create value to our shareholders and especially to our customers. The 40 years long success committed in the corrugated sector is mainly linked on our focus to customer relations management. With over 700 employees, Olmuksa will continue to develop innovative solutions for the customers to meet the targets in 2008 and beyond.

I am thankful to the members of the Board, management team and all employees and would like to respectfully acknowledge all our esteemed shareholders for their valuable contributions to those achievements.