I see in the Turkish News that a new issue of bank notes will be circulated from January 2009, they are reverting from New (yeni) Turkish Lira back to just Turkish Lira. The values will be the same however there will be a new 200 lira note and the 1 Lira note will disappear.
All existing notes will be phased out during the year but will be ok for use until of the end December 2009.
If your not going to Turkey next year and have some small amounts of paper money left over (or big) that you don't want to change back can I suggest you send it to ICR to donate to the orphanage before it becomes worthless.
Dave