EXPORT-IMPORT BANK OF THE UNITED STATES

SUMMARY OF MINUTES OF MEETING OF CREDIT COMMITTEE

NOVEMBER 18, 2003

ITEM NO 1

Country PHILIPPINES AP079918XX

Request for FINAL COMMITMENT

Applicant TORONTO-DOMINION BANK, HOUSTON TX

Borrower GOLDLAND PHILIPPINES CORP., PASIG CITY, MANILA PHILIPPINES

Guarantor PHILIPPINE BASKETS CORP., TAGUIG, METRO MANILA PHILIPPINES

Guarantor CEBU HOTEL PROPERTIES INC., LAPU-LAPU CITY, CEBU PHILIPPINES

Guarantor ADDITIONAL GUARANTORS

Buyer GOLDLAND PHILIPPINES CORP., PASIG CITY, MANILA PHILIPPINES

End-user GOLDLAND PHILIPPINES CORP., PASIG CITY, MANILA PHILIPPINES

Exporter CATERPILLAR INC, PEORIA IL

Exporter WEIR FLOWAY, INC., FRESNO CA

Exporter ADDITIONAL EXPORTERS

Supplier CATERPILLAR INC, PEORIA IL

Supplier WEIR FLOWAY, INC., FRESNO CA

Supplier ADDITIONAL SUPPLIERS

Gteed Lender TORONTO-DOMINION BANK, HOUSTON TX

Project Description TO BUILD & DEVELOP A HILTON CEBU RESORT

Product Description BUILDING MATERIALS AND EQUIPMENT

Financed Amount $ 1,077,067

Repayment Term 5 YEARS

Credit Committee Decision APPROVED

Item No. 2

Country: Mexico - Policy No. MTA-258806

Request for: Commitment (New)

Policy Type: Single Sale/Single Shipment

Coverage Type/Term: Comprehensive/MT

Insured: The Toronto-Dominion Bank

Buyer/Obligor: Grupo Galax S.A. de C.V., Monterrey, Mexico

End-User: Same

Guarantor: Mr. Melchor Montoya Sandoval

Exporter: San Antonio Trade Group

Supplier: Case Corporation Equipment/CNH Global NV

Supplier: BR Lee Industries/Kirby-Smith

Broker: Penn International Insurance

Product: Construction and earthmoving equipment

Ex-Im Bank Liability (Millions): $1 - $5

Credit Commmittee Decision: APPROVED

Item No. 3

Country: Cameroon Policy No.: MSM-257790
Request For: Policy (New)

Policy Type: Single Sale/Multiple Shipments

Coverage Type/Term: Comprehensive/MT

Insured: Nationwide Equipment Company, Jacksonville, FL 32219-1714

Buyer/Obligor: Soc Forestiere Et Industrielle Du Moungo SARL (SFIM), Douala, Cameroon

Guarantors: Mr. Jean Kouamou, Douala, Cameroon

End-User: Same as buyer

Exporter:Same as the insured

Suppliers:Southwest Bank, Houston, TX

Meyrat Financial Services, Dallas, TX

Broker: Meyrat Financial Services, Dallas, TX

Product/Use: Used construction equipment for use in the buyer's operations.

Ex-Im Bank Liability (Millions): $1 - $5

Credit Committee Decision: APPROVED