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Summary of the Meeting of the Board of Directors

Friday, May 22, 1998
 
Completed

CERTIFICATION FOR CLOSURE OF MEETING

[To be provided]

Date Posted: Monday, April 21, 2003

EXPORT-IMPORT BANK OF THE UNITED STATES
MEETING OF THE LOAN COMMITTEE SUMMARY OF MINUTES
MAY 22, 1998

ITEM NO: 1.
Country: Mexico Policy No.: MTR-189811
Request For: Insurance Policy (New)
Policy Type: Repetitive Sales Coverage Type/Term: Comprehensive/MT
Insured: Citibank N.A., N.Y., N.Y.
Buyer/Obligor: Minera Maria S.A. de C.V., Sonora, Mexico.
Guarantor: Empresas Frisco S.A. de C.V., Mexico, Mexico.
End-User: Minera Maria S.A. de C.V., Sonora, Mexico.
Exporter: Multiple exporters
Supplier: Multiple suppliers
Product: Mining equipment.
Eximbank Liability (MILLIONS): USD1 - USD5
Loan Committee Decision: APPROVED

EXPORT-IMPORT BANK OF THE UNITED STATES
SUMMARY OF MINUTES OF MEETING OF BOARD OF DIRECTORS
MAY 21, 1998

ITEM NO 1
Ancillary Service Fees
Board Decision:
The staff recommendation is approved, except with respect to Ex-Im Bank financing for the costs of U.S. origin legal or engineering ancillary services. With respect to these ancillary services, the Board approved the financing of 100 percent (not just Ex-Im's share) of those services as part of the long-term financing when contracted by, or as requested by, Ex-Im Bank or the QUOTE sponsor ENDQUOTE of a transaction (the latter, even if not at
Ex-Im's request).

The financing, as part of the long-term transaction, of U.S. origin legal and engineering ancillary services for other transaction parties' account, e.g., other lenders, was not resolved. This issue will be reconsidered in the context of information of the Bank's past practices, competitor ECA practices, and
Ex-Im's other interests.

ITEM NO 2
Minutes of Meeting of May 5, 1998, to be approved
Board Decision: Approved

ITEM NO 3
Country KENYA AP073273XX
Request by PEFCO FOR EX-IM BANK APPROVAL OF FIXED INTEREST LENDING RATE
Applicant ABN AMRO BANK N.V., CHICAGO IL
Borrower SPV/KENYA AIRWAYS LTD, NAIROBI KENYA
Guarantor NONE
Buyer SPV/KENYA AIRWAYS LTD, NAIROBI KENYA
End-user KENYA AIRWAYS LTD, NAIROBI, KENYA
Exporter BOEING COMPANY THE*, SEATTLE WA
Supplier BOEING COMPANY THE*, SEATTLE WA
Supplier CFM INTERNATIONAL INC, CINCINNATI OH
Gteed Lender PRIVATE EXPORT FUNDING CORP, NEW YORK NY
Lessor SPV/KENYA AIRWAYS LTD, NAIROBI KENYA
Lessee KENYA AIRWAYS LTD, NAIROBI, KENYA
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT
Board Decision APPROVED

EXPORT-IMPORT BANK OF THE UNITED STATES
SUMMARY OF MINUTES OF MEETING OF BOARD OF DIRECTORS
MAY 21, 1998

ITEM NO 4
Country CHINA (MAINLAND) AP073380XX
equest for FINAL COMMITMENT

Applicant CHASE SECURITIES INC., NEW YORK NY
Borrower SPV/CHINA XIAMEN AIRLINES, XIAMEN FUJIAN CHINA(MAINLAND)
Guarantor BANK OF CHINA, 10037 BEIJING CHINA(MAINLAND)
Buyer SPV/CHINA XIAMEN AIRLINES, XIAMEN FUJIAN CHINA(MAINLAND)
End-user CHINA XIAMEN AIRLINES, XIAMEN FUJIAN, CHINA(MAINLAND)
Exporter BOEING COMPANY THE*, SEATTLE WA
Supplier BOEING COMPANY THE*, SEATTLE WA
Supplier CFM INTERNATIONAL INC, CINCINNATI OH
Gteed Lender PRIVATE EXPORT FUNDING CORP, NEW YORK NY
Lessor SPV/CHINA XIAMEN AIRLINES, XIAMEN FUJIAN CHINA(MAINLAND)
Lessee CHINA XIAMEN AIRLINES, XIAMEN FUJIAN, CHINA(MAINLAND)
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT
Board Decision REFER TO U.S. CONGRESS

ITEM NO 5
Country MOROCCO AP073086XX
Request for FINAL COMMITMENT

Applicant ROYAL AIR MAROC, CASABLANCA, MOROCCO
Borrower SPV/ROYAL AIR MAROC, CASABLANCA MOROCCO
Guarantor NONE
Buyer SPV/ROYAL AIR MAROC, CASABLANCA MOROCCO
End-user ROYAL AIR MAROC, CASABLANCA, MOROCCO
Exporter BOEING COMPANY THE*, RENTON WA
Supplier BOEING COMPANY THE*, RENTON WA
Supplier CFM INTERNATIONAL INC, CINCINNATI OH
Gteed Lender BANQUE NATIONALE DE PARIS, 75450 PARIS, CEDEX 09, FRANCE
Lessor SPV/ROYAL AIR MAROC, CASABLANCA MOROCCO
Lessee ROYAL AIR MAROC, CASABLANCA, MOROCCO
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT
Financed Amount USD66,888,200
Repayment Term 12 YEARS
Board Decision APPROVED

EXPORT-IMPORT BANK OF THE UNITED STATES
SUMMARY OF MINUTES OF MEETING OF BOARD OF DIRECTORS
MAY 21, 1998

ITEM NO 5A
Country MOROCCO PC073085XX
Request for PRELIMINARY COMMITMENT

Applicant ROYAL AIR MAROC, CASABLANCA, MOROCCO
Borrower SPV/ROYAL AIR MAROC, CASABLANCA MOROCCO
Guarantor NONE
Buyer SPV/ROYAL AIR MAROC, CASABLANCA MOROCCO
End-user ROYAL AIR MAROC, CASABLANCA, MOROCCO
Exporter BOEING COMPANY THE*, SEATTLE WA
Supplier BOEING COMPANY THE*, SEATTLE WA
Supplier CFM INTERNATIONAL INC, CINCINNATI OH
Gteed Lender FINANCIAL INSTITUTION ACCEPTABLE TO EIB
Lessor SPV/ROYAL AIR MAROC, CASABLANCA MOROCCO
Lessee ROYAL AIR MAROC, CASABLANCA, MOROCCO
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT
Ex-Im Bank Liability (Millions) USD20+
PC Expiry Date 12/14/98
Board Decision APPROVED

ITEM NO 6 -- WITHDRAWN

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MEETING OF BOARD OF DIRECTORS