SUMMARY OF MINUTES OF MEETING OF CREDIT COMMITTEE
JANUARY 11, 2002

Item No. 1
Country: Philippines Policy No.: MTA-231027
Request for: Insurance Commitment (New)
Policy Type: Single Sale/Single Shipment
Coverage Type/Term: Comprehensive/MT
Insured: East West Bank, San Marino, CA 91108-2358
Borrower: Digital Media, Inc., Quezon City, Philippines
Guarantors: ABS-CBN Broadcasting Corporation, Quezon City, Philippines, and
Alejandro R. Escano, Jr.
End-User: ABS-CBN Broadcasting Corporation, Quezon City, Philippines
Exporter: Avid Technology, Inc., Tewksbury, Massachusetts, 01876-1282
Supplier: Avid Technology, Inc., Tewksbury, Massachusetts, 01876-1282
Broker: Global Frontier Insurance Brokerage, Fullerton, California, 92831
Product: Newsroom automation system and engineering services
Ex-Im Bank Liability (Millions): USD1 - USD5
Credit Committee Decision: APPROVED, subject to certain conditions and
additional information.

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MEETING OF CREDIT COMMITTEE