SUMMARY OF MINUTES OF MEETING OF CREDIT COMMITTEE
DECEMBER 8, 2000

Item No. 1
Country:Argentina Policy No.: MTA-218925
Request for: Insurance Commitment (New)
Policy Type: Single Sale/Single Shipment
Coverage Type/Term: Comprehensive/MT
Insured: Hess Engineering Inc., Niles, MI 49120-9766
Buyer/Obligor: Frodi S.A., Sante Fe, Argentina
Guarantors: Jorge Omar Elisei and Ricardo Antonio Elisei
End-User: Frodi S.A., Santa Fe, Argentina
Exporter: Hess Engineering Inc., Niles, MI 49120-9766
Supplier: Hess Engineering Inc., Niles, MI 49120-9766
Broker: Export Insurance Agency, Walpole, MA
Product: AC Butt Welding Machine to be used in the buyer's
wheel manufacturing business.
Ex-Im Bank Liability (Millions): USD0 - USD1
Credit Committee Decision: APPROVED

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MEETING OF CREDIT COMMITTEE