EXPORT-IMPORT BANK OF THE UNITED STATES
SUMMARY OF MINUTES OF MEETING OF BOARD OF DIRECTORS
JANUARY 7, 1999

ITEM NO. 1
MINUTES OF MEETING OF DECEMBER 3, 1998, TO BE APPROVED
Board Decision: APPROVED

ITEM NO. 2
MINUTES OF MEETING OF DECEMBER 10, 1998, TO BE APPROVED
Board Decision: APPROVED

ITEM NO 3
Country CHILE AP073743XX
Request for FINAL COMMITMENT
Applicant CANADIAN IMPERIAL BK OF COMMERCE NY INC., NEW YORK, NY
Borrower SPV/LINEA AEREA NACIONAL CHILE S.A., SANTIAGO CHILE
Guarantor NONE
Buyer SPV/LINEA AEREA NACIONAL CHILE S.A., SANTIAGO CHILE
End-user LINEA AEREA NACIONAL CHILE S.A., SANTIAGO, CHILE
Exporter THE BOEING COMPANY, SEATTLE WA
Supplier THE BOEING COMPANY, SEATTLE WA
Supplier GENERAL ELECTRIC COMPANY, CINCINNATI OH
Gteed Lender CANADIAN IMPERIAL BK OF COMMERCE NY INC., NEW YORK NY
Lessor SPV/LINEA AEREA NACIONAL CHILE S.A., SANTIAGO CHILE
Lessee LINEA AEREA NACIONAL CHILE S.A., SANTIAGO CHILE
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT
Financed Amount USD129,574,000
Repayment Term 12 YEARS
Board Decision APPROVED

ITEM NO. 4
TIED AID POLICY REVIEW: INTERNAL PROCESSES
Board Decision: APPROVED

MEETING OF BOARD OF DIRECTORS