EXPORT-IMPORT BANK OF THE UNITED STATES

SUMMARY OF MINUTES OF MEETING OF BOARD OF DIRECTORS

JANUARY 22, 2004

ITEM NO 1Minutes of December 12, 2003 Board Meeting to be approved.

Board Decision: APPROVED

ITEM NO 2Minutes of December 17, 2003 Board Meeting to be approved.

Board Decision: APPROVED

ITEM NO 3Minutes of December 23, 2003 Board Meeting to be approved.

Board Decision: APPROVED

ITEM NO 4

Country THAILAND AP079298XX

Request for FINAL COMMITMENT

Applicant THAI AIRWAYS INTERNATIONAL PUBLIC CO LTD, CHATUCHAK, BANGKOK
THAILAND

Borrower SPV/THAI AIRWAYS INTERNATIONAL LTD, BANGKOK 10900, BKK
THAILAND

Guarantor NONE

Buyer SPV/THAI AIRWAYS INTERNATIONAL LTD, BANGKOK 10900, BKK
THAILAND

End-user THAI AIRWAYS INTERNATIONAL PUBLIC CO LTD, CHATUCHAK, BANGKOK
THAILAND

Exporter BOEING COMPANY, EVERETT WA

Supplier GENERAL ELECTRIC COMPANY, CINCINNATI OH

Supplier BOEING COMPANY, EVERETT WA

Gteed Lender PNB PARIBAS, SINGAPORE 049319 SINGAPORE

Lessor SPV/THAI AIRWAYS INTERNATIONAL LTD, BANGKOK 10900, BKK
THAILAND

Lessee THAI AIRWAYS INTERNATIONAL PUBLIC CO LTD, CHATUCHAK, BANGKOK
THAILAND

Cofin ECA NONE

Project Name NONE

Project Description AIR TRANSPORATION

Product Description AIRCRAFT

Repayment Term 11.5 YEARS

Board Decision APPROVED