EXPORT-IMPORT BANK OF THE UNITED STATES
SUMMARY OF MINUTES OF MEETING OF BOARD OF DIRECTORS
MARCH 10, 1999

ITEM NO 5
Country TURKEY AP074214XX
Request for FINAL COMMITMENT
Applicant NATIONSBANC MNTGMERY SCURITIES, CHARLOTTE NC
Borrower SPV/PEGASUS AIRLINES, BERMUDA BERMUDA
Guarantor ENTERNASYONAL TURIZM YATIRIM SA, ISTANBUL TURKEY
Guarantor CUKUROVA HOLDING A S, ISTANBUL TURKEY
Buyer SPV/PEGASUS AIRLINES, BERMUDA BERMUDA
End-user PEGASUS HAVA TASIMACILIGI A.S., YESILYART/ISTANBUL 34800 TURKEY
Exporter BOEING COMPANY, THE, SEATTLE WA
Supplier BOEING COMPANY, THE, SEATTLE WA
Supplier CFM INTERNATIONAL INC, CINCINNATI OH
Gteed Lender NATIONSBANK NA, CHARLOTTE NC
Lessor SPV/PEGASUS AIRLINES, BERMUDA BERMUDA
Lessee PEGASUS HAVA TASIMACILIGI A.S., YESILYART/ISTANBUL 34800 TURKEY
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT
Financed Amount USD30,988,451
Repayment Term 12 YEARS
Board Decision APPROVED

ITEM NO 6
Country MOROCCO AP073085XX
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, SEATTLE WA
Supplier BOEING COMPANY, THE, SEATTLE 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
Board Decision REFER TO U.S. CONGRESS

MEETING OF BOARD OF DIRECTORS