MEETING OF BOARD OF DIRECTORS

EXPORT-IMPORT BANK OF THE UNITED STATES

SUMMARY OF MINUTES OF MEETING OF BOARD OF DIRECTORS

APRIL 22, 2004

ITEM NO 1     Ex-Im Bank Advisory Committee - (15^th member) for 2004
                       Board Decision: Appointed the 15^th Member of the
                       Advisory Committee for 2004

ITEM NO 2 Minutes of March 26, 2004 Board Meeting to be approved.
Board Decision: APPROVED

ITEM NO 3 Minutes of April 1, 2004 Board Meeting to be approved.
Board Decision: APPROVED

ITEM NO 4

Country EGYPT AP079289XX

Request for FINAL COMMITMENT

Applicant BNP-PARIBAS, NEW YORK NY

Borrower CAIRO ELECTRICITY PRODUCTION COMPANY, CAIRO, SABRIA 80370 EGYPT
Guarantor CENTRAL BANK OF EGYPT, CAIRO EGYPT

Buyer CAIRO ELECTRICITY PRODUCTION COMPANY, CAIRO, SABRIA 80370 EGYPT

End-user CAIRO ELECTRICITY PRODUCTION COMPANY, CAIRO, SABRIA 80370 EGYPT

Exporter GENERAL ELECTRIC COMPANY, SCHENECTADY NY

Exporter GENERAL ELECTRIC COMPANY INC, ATLANTA GA

Exporter GE POWER SYSTEMS, INC, SCHENECTADY NY

Supplier GENERAL ELECTRIC COMPANY, SCHENECTADY NY

Supplier GENERAL ELECTRIC COMPANY INC, ATLANTA GA

Exporter GE POWER SYSTEMS, INC, SCHENECTADY NY

Gteed Lender BNP-PARIBAS, NEW YORK NY

Project Name CAIRO NORTH II

Project Description 750MW COMBINED CYCLE POWER PLANT

Product Description TURBINE AND TURBINE GENERATOR SET UNITS

Financed Amount $ 90,809,958

Repayment Term 12 YEARS

Board Decision APPROVED