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Summary of the Meeting of the Board of Directors

Thursday, March 21, 2002
 
Completed

CERTIFICATION FOR CLOSURE OF MEETING

[To be provided]

Date Posted: Monday, April 21, 2003

SUMMARY OF MINUTES OF MEETING OF BOARD OF DIRECTORS
MARCH 21, 2002

ITEM NO 1
Country MOROCCO AP077866XX
Request for FINAL COMMITMENT
Applicant ROYAL AIR MAROC, CASABLANCA MOROCCO
Borrower SPV/ROYAL AIR MAROC, CASABLANCA MOROCCO
Guarantor NONE
Buyer SPV/ROYAL AIR MAROC, CASABLANCA MOROCCO
End-user ROYAL AIR MAROC, CASABLANCA MOROCCO
Exporter BOEING COMPANY, THE*, SEATTLE WA
Supplier BOEING COMPANY, THE*, SEATTLE WA
Supplier CFM INTERNATIONAL INC, CINCINNATI OH
Gteed Lender BANQUE NATIONALE DE PARIS, 75450 PARIS, CEDEX 09 FRANCE
Lessor SPV/ROYAL AIR MAROC, CASABLANCA MOROCCO
Lessee ROYAL AIR MAROC, CASABLANCA MOROCCO
Cofin ECA NONE
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT
Financed Amount USD 37,817,892
Repayment Term 12 YEARS
Board Decision APPROVED

ITEM NO 2
Country MOROCCO PC077915XX
Request for PRELIMINARY COMMITMENT
Applicant ROYAL AIR MAROC, CASABLANCA MOROCCO
Borrower SPV/ROYAL AIR MAROC, CASABLANCA MOROCCO
Guarantor NONE
Buyer SPV/ROYAL AIR MAROC, CASABLANCA MOROCCO
End-user ROYAL AIR MAROC, CASABLANCA MOROCCO
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 ZZ
Lessor SPV/ROYAL AIR MAROC, CASABLANCA MOROCCO
Lessee ROYAL AIR MAROC, CASABLANCA MOROCCO
Cofin ECA NONE
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT
Ex-Im Bank Liability (Millions) USD20+
PC Expiry Date 09/15/02
Board Decision APPROVED

ITEM NO 3
Country TURKEY AP073136XX
Request for FINAL COMMITMENT
Applicant TURK HAVA YOLLARI T A O, ISTANBUL, TURKEY
Borrower SPV/TURK HAVA YOLLARI TAO, ISTANBUL TURKEY
Guarantor UNDERSECRETARIAT OF TREASURY, ANKARA 06510 TURKEY
Buyer SPV/TURK HAVA YOLLARI TAO, ISTANBUL TURKEY
End-user TURK HAVA YOLLARI T A O, ISTANBUL, TURKEY
Exporter BOEING COMPANY, THE*, SEATTLE WA
Supplier BOEING COMPANY, THE*, SEATTLE WA
Supplier CFM INTERNATIONAL INC, CINCINNATI OH
Gteed Lender ABN AMRO BANK N.V., CHICAGO IL
Lessor SPV/TURK HAVA YOLLARI TAO, ISTANBUL TURKEY
Lessee TURK HAVA YOLLARI T A O, ISTANBUL, TURKEY
Cofin ECA NONE
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT
Financed Amount USD 68,321,584
Repayment Term 12 YEARS
Board Decision APPROVED

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MEETING OF BOARD OF DIRECTORS