SUMMARY OF MINUTES OF MEETING OF CREDIT COMMITTEE
FEBRUARY 26, 1999

Item No. 4
Country: Kenya Policy No.: MSM-196345
Request for: Insurance Policy (New)
Policy Type: Single Sale/Multiple Shipments
Coverage Type/Term: Comprehensive/MT
Insured: Africair, Inc., Miami, FL
Buyer/Obligor: Tanzania Air Services Ltd., Dar Es Salaam, Tanzania
Guarantor: Eastern and Southern African Trade and Development Bank (PTA Bank), Nairobi, Kenya
End-User: Tanzania Air Services Ltd., Dar Es Salaam, Tanzania
Exporter: Africair, Inc., Miami, FL
Supplier: Cessna Aircraft Company, Wichita, KS
Broker: Louis G. Guadagnoli, McLean, Va
Products: Cessna Grand Caravan Aircraft
Ex-Im Bank Liability (Millions): USD1 - USD5
Credit Committee Decision: APPROVED

Item No. 5
Country: Kenya Policy No.: MSM-197657
Request for: Insurance Policy (New)
Policy Type: Single Sale/Multiple Shipments
Coverage Type/Term: Comprehensive/MT
Insured: Africair, Inc., Miami, FL
Buyer/Obligor: Zambia Flying Doctor Service (ZFDS), Ndola Airport, Zambia
Guarantor: Eastern and Southern African Trade and Development Bank (PTA Bank), Nairobi, Kenya
End-User: Zambia Flying Doctor Service ZFDS), Ndola Airport, Zambia
Exporter: Africair, Inc., Miami, FL
Supplier: Cessna Aircraft Company, Wichita, KS
Broker: Louis G. Guadagnoli, McLean, VA
Products: Cessna Grand Caravan Aircraft
Ex-Im Bank Liability (Millions): USD5 - USD20
Credit Committee Decision: APPROVED
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MEETING OF CREDIT COMMITTEE