SUMMARY OF MINUTES OF MEETING OF BOARD OF DIRECTOR
NOVEMBER 22, 2000

ITEM NO 8A.
Country IRELAND AP072813XX (Conversion No. 3)
Request for FINAL COMMITMENT

Applicant RYANAIR LTD., CLOGHRAN IRELAND
Borrower SPV/RYANAIR LTD., CLOGHRAN IRELAND
Guarantor NONE
Buyer SPV/RYANAIR LTD., CLOGHRAN IRELAND
End-user RYANAIR LTD., CLOGHRAN IRELAND
Exporter BOEING COMPANY, THE, SEATTLE WA
Supplier BOEING COMPANY, THE, SEATTLE WA
Supplier CFM INTERNATIONAL INC, CINCINNATI OH
Gteed Lender PRIVATE EXPORT FUNDING CORP, NEW YORK NY
Lessor SPV/RYANAIR LTD., CLOGHRAN IRELAND
Lessee RYANAIR LTD., CLOGHRAN IRELAND

Project Description AIR TRANSPORTATION
Product Description AIRCRAFT

Board Decision Referred to US Congress

ITEM NO 8b
Country IRELAND PC072813XX
Request for AMENDMENT OF PRELIMINARY COMMITMENT

Applicant BOEING COMPANY, THE, SEATTLE WA
Borrower SPV/RYANAIR LTD., CLOGHRAN IRELAND
Guarantor NONE
Buyer SPV/RYANAIR LTD., CLOGHRAN IRELAND
End-user RYANAIR LTD., CLOGHRAN IRELAND
Exporter BOEING COMPANY, THE, SEATTLE WA
Supplier BOEING COMPANY, THE, SEATTLE WA
Supplier CFM INTERNATIONAL INC, CINCINNATI OH
Gteed Lender FINANCIAL INSTITUTION ACCEPTABLE TO EIB, UNKNOWN DC
Lessor SPV/RYANAIR LTD., CLOGHRAN IRELAND
Lessee RYANAIR LTD., CLOGHRAN IRELAND

Project Description AIR TRANSPORTATION
Product Description AIRCRAFT
Ex-Im Bank Liability (Millions) USD20+
PC Expiry Date 06/14/01

Board Decision APPROVED.

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MEETING OF BOARD OF DIRECTORS