Auerbach Grayson & Company brings ATA Securities of Turkey into worldwide broker network.

NEW YORK--(BUSINESS WIRE)--Sept. 18, 1996-- Auerbach Grayson & Company Inc. announced today that Istanbul-headquartered Ata Securities Inc. has joined their international broker/dealer network.

There are now 50 firms that Auerbach Grayson has linked under its marketing and regulatory umbrella, opening direct avenues for U.S. institutional investors to access international markets and benefit from locally written research. "We chose Ata Securities for our Turkish connection primarily because the firm is the largest domestic broker in Turkey and, at $9 billion, has one of the largest annual trading volumes," says David Grayson, managing director of Auerbach Grayson & Company.

There are several reasons why the partnership is a good fit for both Auerbach Grayson and Ata Securities. "Ata Securities' research capability is the most extensive in the country and they cover the entire market," explains Grayson. "Their five-year track record is consistently outstanding and we were impressed that the firm had developed its own trading technology. It's the most sophisticated operation in this market."

For Ata Securities, becoming part of Auerbach Grayson's broker network opens up a market they could not have accessed otherwise: U.S. institutional investors. "The history of the Turkish market goes back over 100 years and for the past ten has been a mainstream emerging market," says Mehmet Sami, senior vice president at Ata Securities. "Now U.S. investors can join the rest of the world seeking opportunity in this very attractive market."

According to Sami, the Turkish market is one of the biggest and most liquid emerging markets today. The country is large and the population is young, entrepreneurial and consumer-oriented. The number of companies going public is on the rise, fueling opportunity. It's cheap with companies selling at about five times earnings.

All the major industries are represented in the Turkish market and, according to Sami, no one sector dominates. "Turkey is developing a new regional market concept, the Euro Asian Market," he states, which includes Europe, Central Asia and Middle East. "Turkey has been a bridge between east and west for centuries. It actually sits on two continents, and is now a hub in terms of investment, transportation and telecommunications." Sami expects the Euro Asian regional market concept to further develop very soon.

Auerbach Grayson & Company is an SEC registered broker/dealer and a member of the National Association of Securities Dealers (NASD). Having established a unique partnership of local brokers worldwide, it is the only firm in the United States whose business is providing direct research, execution and settlement on a local basis in foreign securities markets for major U.S. institutions. In the past year, Auerbach Grayson & Company provided specialized research on over 2,000 public companies in the more than 50 capital markets represented in their network of foreign brokers worldwide. Auerbach Grayson is headquartered in New York and was established in 1993.

CONTACT: Thompson Becker International

James O'Connell or Jennifer Regan, 508/698-0448