NEDERLANDER WORLDWIDE ENTERTAINMENT JOINS FORCES WITH ZORLU PROPERTY GROUP IN THE DEVELOPMENT AND CREATION OF ISTANBUL'S LARGEST PERFORMING ARTS CENTER TO OPEN 2013

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TWO-THEATRE FACILITY TO OFFER MUSIC, DANCE, FINE ARTS, BROADWAY AND WEST END MUSICAL THEATRE AND MORE

2012-5-9


Zorlu Press Conference

Nederlander Worldwide Entertainment (NWE) joins forces with Zorlu Property Group, most widely established conglomerates in Turkey and Europe, in the creation and development of a performing arts center complex at Istanbul's Zorlu Center. Zorlu Center Performing Arts Center, will be comprised of two theatres (one seating 2,300, the other 770)on 50,000 square meters construction area, making this Istanbul's largest multi-purpose performing arts center. Following its highly-anticipated opening in 2013, the performing arts center will play host to concerts, dance performances, art exhibitions, auctions and Broadway musicals. Developed by Zorlu Property Group, Nederlander Worldwide Entertainment will oversee design, construction and programming.

"Istanbul is home to thousands of years of history with a rich cultural tradition, and it's an honor for us to work with Zorlu Property Group to manage Zorlu Center for the Performing Arts Center, a world class cultural facility located in the heart of Istanbul." Robert Nederlander, Jr., President and CEO of NWE, commented, "Zorlu Center for the Performing Arts will be home to the finest international and domestic programming, including the very best of Broadway. Istanbul is one of the world's greatest cities and it is our intention that Zorlu Center will set a new standard of excellence. The audience in Istanbul is very sophisticated and we believe Broadway productions will be successful from both artistic and business perspectives. In addition, there is a proven positive economic impact that Broadway shows generate when they perform in cities throughout the world. Istanbul will benefit from the economic engine that is Broadway."

Zorlu Property Group's Board Member Emre Zorlu, indicated that Zorlu Center is a worldwide project and he added, "We are building a new town square and center of attention in the midst of Istanbul. Our focus is to show the same amount of attention and thoroughness in all the contents of Zorlu Center and not just in the project phase, resulting in hard work to make sure every single function is presented the best way possible. Our agreement with Nederlander Worldwide to run our Performing Arts Center, a leading international theatre management company, is only one of the indicators of us taking our project very seriously. As Zorlu Property Group we are building one of the best performing arts center in the heart of Istanbul."

Zorlu Property Group's Deputy General Manager Mehmet Even mentioned on his speech that the agreement with Nederlander Worldwide has a big importance to make Istanbul a cultural capital and he added, a tourist who visits New York, London and Paris nowadays eventually adds a musical or a theatre performance to their schedule. Tourists that visit Istanbul will have the opportunity to see world's greatest shows in Zorlu Center. All of the shows that will take place in Zorlu Center Performing Arts Center will play an important role to make Istanbul a cultural capital. Performing Arts Center, with its 3.070 seating capacity will be the biggest performing arts center of Istanbul. With the investment of 300 million USD and 50,000 square meters construction area, Zorlu Center Performing Arts Center will host many musicals, concerts, theatres, dance shows, art exhibitions and events. Thus, Istanbul will be able to compete with many cities in Europe on the issue" he stated.

More about the Zorlu Center

Zorlu Center is Turkey's first five-functioned, "mixed use" project. Zorlu Property Group is constructing the $2.5 billion, four-tower, multi-function and two-theatre project on Istanbul's most valuable property, state land in Zincirlikuyu. Situated at the crossroads of the Asian and European continents overlooking the Istanbul Bosporus, the Zorlu Center project began with the $800 million purchase of the land property in 2007. Zorlu Center is designed by the joint venture of two of Turkey's most celebrated architects: the Ağa Han Architecture Award-winning Emre Arolat (Emre Arolat Architects), and Murat Tabanlıoğlu (Tabanlıoğlu Architects) who has attracted great attention by being chosen as the best architect in the Middle East. In collaboration with Istanbul Metropolitan Municipality; Zorlu Property Group, operating with a sense of responsibility for the environment and Istanbul, is constructing access tunnels will provide a safe and convenient access for pedestrians to Zorlu Center.

More about Zorlu Group and Zorlu Property Group

Zorlu Group, with its wide range of business activities, occupies an important place in Turkey's economy. Distinguishing itself with the scope of its production, export and employment figures, as well as its competitiveness within the global market, the group employs 25,000 people within its portfolio of close to 60 companies.

Zorlu Group realized a total annual export worth $3 billion in 2010. Zorlu Group also distinguishes itself with its successes and pioneering projects not only with its operations in the textile, energy and electronic sectors, but also in the real estate industry. Zorlu Property Group was founded in 2006 with the aim of developing exemplary projects that influence the global real estate industry. The company continues its operations with the goal of developing real estate projects such as quality residences, office spaces, business centers, shopping malls and hospitals on valuable domestic and international lands and investing in these projects to take part in their management.

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