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EX-IM BANK SUPPORTS EXPORTS OF U.S. EQUIPMENT AND SERVICES TO THE PHILIPPINES, CAMEROON AND RUSSIA

FOR IMMEDIATE RELEASE February 27, 2003

Media Contact Name/Phone: 

Linda Formella (202) 565-3200

PHILIPPINES: Ex-Im Bank has approved the request of PNC Bank of Philadelphia, Pa., for a $1.95 million comprehensive medium-term insurance policy to support the sale of ground support aviation equipment by Lockheed Martin Corp. of Bethesda, Md., to Asia Pacific Aviation Philippines of City of Makati, Philippines. The broker is International Risk Consultants.

CAMEROON: Ex-Im Bank has approved the request of RZB Financial LLC of New York, N.Y., for a $2 million comprehensive medium-term insurance policy to support the sale of two shrimp vessels and cold store and blast freezers by Trans Atlantic Corp. of Houston, Texas, to Neptune S.A. of Douala, Cameroon. There are four U.S. small business suppliers on the transaction: W&B Services Company Inc. of Houston, Texas; Tommie Vaughn Ford of Houston, Texas; Cold Storage Construction Services Inc. of Montgomery, Texas; and Ocean Marine Inc. of Bayou LaBatre, Ala. The broker is Penn International of San Antonio, Texas.

RUSSIA: Ex-Im Bank has approved the request of Investment Banking Group Nikoil (IBG Nikoil) of Moscow, Russia, for a $10.7 million credit guarantee facility to finance separate purchases by Russia buyers of various U.S. goods and services. It is expected that the facility will be used to fund purchases by current IBG Nikoil customers in various industry sectors, including agriculture, power and energy, and services. IBG Nikoil will act as the borrower and primary source of repayment.

Ex-Im Bank is the official export credit agency of the United States that helps to finance the sales of U.S. exports, primarily to developing markets, by providing guarantees, loans and export credit insurance. In fiscal year 2002, Ex-Im Bank authorized financing to support nearly $13 billion of U.S. exports.