SUMMARY OF MINUTES OF MEETING OF CREDIT COMMITTEE
AUGUST 18, 2000

Item No. 1
Country: Mexico Policy No.: MSM-213624
Request for: Insurance Amendment
Policy Type: Single Sale/Multiple Shipments
Coverage Type/Term: Comprehensive/MT

Insured: PNC Bank, N.A., Pittsburgh, PA
Buyer: Minigrip de Mexico, Mexico, D.F., Mexico
As originally approved:
Guarantors: Carredana de Empaques, Mexico, D.F., Mexico
Inmobiliaria Carredana, S.A. de C.V., Mexico, D.F., Mexico
Requested Amendment:
Guarantor: Inmobiliaria Carredana, S.A. de C.V., Mexico, D.F., Mexico
End-User: Minigrip de Mexico, Mexico, D.F., Mexico
Exporter: Davis-Standard Corporation, Somerville, NJ 08876-0671
Supplier: Davis-Standard Corporation, Somerville, NJ 08876-0671
Broker: Export Insurance Agency, Walpole, MA
Product/Use: MAC extruder and installation services to be used for the production of polyethylene and polypropylene labels and bags
Ex-Im Bank Liability (Millions): USD1 - USD5
Credit Committee Decision: APPROVED, except guarantors to remain as originally approved.

Item No. 2
Country: Nigeria Policy No.: MSM-213603
Credit Committee Decision: HELD

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MEETING OF CREDIT COMMITTEE