Tesco Kipa opens store in Istanbul

A joint venture of supermarket chains British Tesco and Turkish Kipa, opens its first store in Istanbul.

Tesco Kipa's store is the chain's 28th
hypermarket in Turkey. The new store, which cost Tesco Kipa some 7
million euros without rental fees, covers a total closed area of
13,000 square meters in the biggest outlet center in Europe, expected
to be opened later this year.

Turkey is among the three priority
countries for Tesco. The most important markets for Tesco at present
are the United States, where we opened last year in California and
Arizona, China, whose economy will reach the same volume than that of
the United States in the year 2020, and Turkey, which has a young and
dynamic, growing population. Last year Tesco's sales volume in Turkey
increased by 50 percent.

Tesco Kipa, who recently also opened
its first store in the Mediterranean town of Mersin, will open three
more stores in Turkey over the remainder of 2008.