SUMMARY OF MINUTES OF MEETING OF CREDIT COMMITTEE
OCTOBER 20, 2000

Item No: 1.
Country: Brazil Policy No.: ELFA-213934
Request for: Commitment Insurance
Policy Type: Finance Lease
Coverage Type/Term: Comprehensive/MT
Insured/ Lessor: El Camino Resources de America Latina, Inc., Miami, FL 33131-2379
Lessee: Universo On Line Ltda., Sao Paulo, Brazil
Guarantors: Empresa Folha da Manha S.A., Sao Paulo, Brazil
Editora Abril S.A., Sao Paulo, Brazil
End-User: Universo On Line Ltda., Sao Paulo, Brazil
Exporter: El Camino Resources de America Latina, Inc., Miami, FL 33131-2379
Supplier: 3 Com Corporation, Santa Clara, CA 95054-3601
Broker : Structured Trade Services, Houston, TX
Product: Telecommunications equipment
Ex-Imbank Liability (Millions): USD1 - USD5
Credit Committee Decision: APPROVED
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MEETING OF CREDIT COMMITTEE