EXPORT-IMPORT BANK OF THE UNITED STATES

SUMMARY OF MINUTES OF MEETING OF BOARD OF DIRECTORS

APRIL 10, 2003

ITEM NO 1

Country BRAZIL AP078557XX

Request for FINAL COMMITMENT

Applicant BNP-PARIBAS, NEW YORK NY

Borrower IBIRITERMO S.A., IBIRITE, MINAS GERAIS 30180-120
BRAZIL

Guarantor NONE

Buyer IBIRITERMO S.A., IBIRITE, MINAS GERAIS 30180-120
BRAZIL

End-user IBIRITERMO S.A., IBIRITE, MINAS GERAIS 30180-120
BRAZIL

Exporter TAYLOR DEJONGH INC, WASHINGTON DC

Exporter WINSTON & STRAWN, WASHINGTON DC

Exporter ADDITIONAL EXPORTERS

Supplier GENERAL ELECTRIC INTERNATIONAL, SCHENECTADY NY

Supplier TAYLOR DEJONGH INC, WASHINGTON DC

Supplier ADDITIONAL SUPPLIERS

Project Name IBIRITERMO

Project Description IBIRITERMO COMBINED CYCLE POWER PLANT

Product Description TECHNICAL SERVICES

Financed Amount USD 49,652,443

(Max) Repayment Term 12 YR

Board Decision APPROVED