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Export-Import Bank of the United States invites offers to purchase a Boeing 737-400 aircraft surrendered by Air Nauru

FOR IMMEDIATE RELEASE January 29, 2006

Media Contact Name/Phone: 

Phil Cogan, (202) 565-3200

WASHINGTON, D.C. -- The Export-Import Bank of the United States (Ex-Im Bank) today announced its intent to seek cash offers to purchase a Boeing 737-400 aircraft on an as-is, where-is basis. The aircraft, a 1993 Boeing 737-400 with additional fuel tanks installed (MSN 26960), was surrendered by Air Nauru last month pursuant to a December 18, 2005 Australian High Court ruling.

Ex-Im Bank is initiating a process in which it seeks cash offers to purchase the aircraft with clean title on an as-is, where-is basis. Ex-Im Bank is in the process of gathering maintenance records and assessing the condition of the aircraft, and will provide information in that regard to all parties interested in purchasing the aircraft. The aircraft has been maintained by Qantas throughout its operating life, and is currently being stored at the Qantas maintenance facility at Melbourne International Airport in Australia.

We encourage all parties interested in purchasing the aircraft to submit a request by Friday, February 10, 2006 to receive a complete bid package with further information on the aircraft. Please email this request to aircraftbids@exim.gov, and include contact information (name, address, company, phone and fax number, and email address). We will notify interested bidders who submit such information when bid package materials become available. In addition, bid package materialswill be made available to the public on the Ex-Im Bank web site at www.exim.gov.

We will provide information regarding inspection of the aircraft and due date for offer submission at the time we provide the bid package materials.

Contrary to certain press reports, neither Air Nauru nor the Government of Nauru is in negotiations with Ex-Im Bank to purchase the aircraft, nor do these parties possess any special rights in this process.

Ex-Im Bank reserves the right to reject all offers.

Ex-Im Bank this year marks its 71st year of helping finance the sale of U.S. exports, primarily to emerging markets throughout the world, by providing loan guarantees, export credit insurance, and direct loans. In fiscal year 2005 Ex-Im Bank authorized nearly $14 billion in transactions supporting almost $17.9 billion in U.S. exports. For more information on the Export-Import Bank of the United States visit www.exim.gov.