Conformed Copy - L4344 - National Transmission Grid Project - Supplemental Letter 1

Page 1 REPUBLIC OF TURKEY June 25, 1998 International Bank for Reconstruction and Development 1818 H St., NW Washington, DC 20433 United States of America Re: Loan No. 4344 TU (National Transmission Grid Project) Performance Indicators - Guarantee Agreement Dear Sirs or Mesdames: This refers to the provisions of Section 3.03 (c) of the Guarantee Agreement (National Transmission Grid Project) of even date herewith between the Republic of Turkey and the International Bank for Reconstruction and Development (the Bank). The Guarantor hearby confirms to the Bank that the performance indicators set forth in the attachment to this letter shall serve as the basis for the Guarantor to monitor and evaluate the progress of the Project and the achievement of the objectives thereof. Very truly yours, REPUBLIC OF TURKEY By /s/ Gunes Taner Authorized Representative