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Summary of the Meeting of the Board of Directors

Thursday, September 4, 2003
 
Completed

CERTIFICATION FOR CLOSURE OF MEETING

[To be provided]

Date Posted: Friday, September 26, 2003

EXPORT-IMPORT BANK OF THE UNITED STATES
SUMMARY OF MINUTES OF MEETING OF BOARD OF DIRECTORS
SEPTEMBER 4, 2003

ITEM NO 1
Country PANAMA AP079689XX
Request for FINAL COMMITMENT

Applicant CIA PANAMENA DE AVIACION S.A., PANAMA CITY PANAMA
Borrower SPV/COPA HOLDINGS S.A., PANAMA CITY PANAMA
Guarantor CIA PANAMENA DE AVIACION S.A., PANAMA CITY PANAMA
Guarantor COPA HOLDINGS S.A., PANAMA CITY 1 PANAMA
Buyer SPV/COPA HOLDINGS S.A., PANAMA CITY PANAMA
End-user CIA PANAMENA DE AVIACION S.A., PANAMA CITY PANAMA
Exporter BOEING COMPANY, THE, RENTON WA
Supplier CFM INTERNATIONAL INC, CINCINNATI OH
Supplier BOEING COMPANY, THE, RENTON WA
Gteed Lender PRIVATE EXPORT FUNDING CORP, NEW YORK NY
Lessor SPV/COPA HOLDINGS S.A., PANAMA CITY PANAMA
Lessee OVAL FINANCIAL LEASING LTD, ROAD TOWN, TORTOLA VIRGIN ISL (UK)
Cofin ECA NONE

Project Name
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT
Repayment Term 12 YEARS

Board Decision APPROVED

ITEM NO 2AP079689XX
Country PANAMA
Request FINAL COMMITMENT
Request by Private Export Funding Corporation (PEFCO) for Ex-Im Bank approval of its Fixed Interest Lending Rate on its participation in the proposed financing.

Borrower SPV/COPA HOLDINGS S.A., PANAMA CITY PANAMA
Guarantor CIA PANAMENA DE AVIACION S.A., PANAMA CITY PANAMA
Guarantor COPA HOLDINGS S.A., PANAMA CITY 1 PANAMA
Buyer SPV/COPA HOLDINGS S.A., PANAMA CITY PANAMA
End-user CIA PANAMENA DE AVIACION S.A., PANAMA CITY PANAMA
Exporter BOEING COMPANY, THE RENTON WA

Product Description AIRCRAFT

Board Decision: APPROVED PEFCO'S FIXED INTEREST LENDING RATE