Dear Shareholders;

Abdi İbrahim started out as a pharmacy in the neighborhood of Küçükmustafapaşa about 100 years ago. Since 2003, however, it has been the leading company in the Turkish pharmaceuticals markets, operating out of its factory, which was opened in 1919 in Mahmutpaşa with the name Abdi İbrahim Müstahzarat-ı İspençiyariye.

In line with the company's policy, it has successfully adapted experience and knowledge acquired overtime to present conditions, thereby enabling sustainable development. Moreover, we continue to become more and more successful by entering foreign markets.

Abdi İbrahim provides pharmaceutical services to the healthcare sector that are beneficial in maintaining people's health. Its innovativeness has been a major factor behind its increasingly improving performance. Accordingly, as a century-old company, through our business both at home and abroad and our R&D experience, we have been an exemplar company in the sector.

The goal of being a global player, one of the fundamental principles of Abdi İbrahim's vision, has, naturally, led us to take a more active role in international markets. We grew in international markets to $30 million in 2010, exporting to more than 20 countries. Raising these figures in the years to come is one of our goals.

While making the development of generic drugs one of Abdi İbrahim's basic objectives, we are achieving our goal of becoming able to make changes in people's lives for the better in our R&D Center, which is a model for the sector. Moreover, by transferring 5% of our annual turnover to R&D, we are underlining the importance we place on innovation in the pharmaceutical sector. We maintain our health distribution mission by developing new products in our R&D Center, the largest accredited R&D center in the sector, where the work of more than 140 experts is conducted.

We, as Abdi İbrahim, which for roughly 100 years has been serving medicine and people, have been steadily making development investments through new and innovative products. We are proud to be beginning a new year with what is our greatest capital - 3500 Abdi İbrahim employees, by firmly fixing global targets in sustainable leadership. Here's to a new year...

Regards,

Nezih Barut
Chairman