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Vestel Elektronik (VESD)

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Monday 17 July, 2000

Vestel Elektronik

Notice of Initiation

Vestel Elektronik Sanayi Ve Ticaret
17 July 2000

Based on the European Commission's Official Gazette published on 15.07.2000 and
the information received from various sources on 17.07.2000, European Commission
published a 'Notice of Initiation of anti-dumping proceeding concerning colour
television receivers originating in or exported from Turkey', following a
complaint lodged on 5 June 2000.  Such complaint alleges that, based on the
comparison of the domestic prices with the export prices to the Community, the
dumping margin calculated is significant.

According to the Notice of Initiation published, the investigation will
determine whether the product concerned, originating in or exported from Turkey,
is being dumped and the whether this dumping has caused injury.

Our company is currently assessing the impact of such Notice of Initiation and
believes that there are no grounds for the complaint.