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Summary of the Meeting of the Credit Committee

Friday, February 27, 2004
 
Completed

CERTIFICATION FOR CLOSURE OF MEETING

[To be provided]

Date Posted: Friday, March 5, 2004

SUMMARY OF MINUTES OF MEETING OF CREDIT COMMITTEE

FEBRUARY 27, 2004

Item No. 1

Country: Israel MSM-261800

Request For: Policy (New)

Policy Type: Single Sale/Multiple Shipments

Coverage Type/Term: Comprehensive/MT

Insured: Sovereign Bank, Newtown, PA 18940-3426

Buyer/Obligor: Netafim (A.C.S.) Ltd., Negev, Israel

Guarantor: None

End-User: Same as buyer

Exporter: Bodine Assembly and Test Systems (Bodine Corp.), Bridgeport,
CT 06605-2133

Supplier:Same as exporter

Broker: Export Risk Management Inc., New York, NY

Product/Use: Automated dripper machines to manufacture irrigation systems

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

Credit Committee Decision: APPROVED

Item No. 2

Country: Mexico ESS-A-263160

Request For: Commitment (New)

Policy Type: Single Buyer

Coverage Type/Term: Comprehensive/ST

Insured: Energy Fabrication, Inc., Odessa, TX 79764-6433

Buyer/Obligor: Petroleos Mexicanos, Mexico D.F., Mexico

Petroleos Mexicanos, Mexico D.F., Mexico

Guarantor:None

Exporter: Energy Fabrication, Inc., Odessa, TX 79764-6433

Broker: None

Product/Use: Hot oil units/servicing and repairing oil wells and production systems

Ex-Im Bank Liability (Millions): $0 - $1

Credit Committee Decision: APPROVED

Item No. 3

Country: Dominican Republic ENB-246322

Request For: Renewal

Policy Type: Special Buyer Credit Limit

Coverage Type/Term: Comprehensive/ST

Insured: Tesco South, Inc./dba/Hector Turf

Buyer: Sincercon, S.A. (formerly Civilcad Constructora)

Broker: Risk Protection International

Product: New irrigation, mowing and maintenance equipment

Ex-Im Bank Liability (Millions): $0 - $1

Credit Committee Decision: APPROVED