EXPORT-IMPORT BANK OF THE UNITED STATES

SUMMARY OF MINUTES OF MEETING OF CREDIT COMMITTEE

JULY 13, 2004

ITEM NO 1

Country NIGERIA AP080600XX

Request for FINAL COMMITMENT

Applicant PNC BANK NATIONAL ASSOCIATION, PITTSBURGH PA

Borrower SOWSCO WELL SERVICES (NIGERIA) LTD., PORT HARCOURT
NIGERIA

Guarantor SAM A ADEGBOYEGA, PORT HARCOURT NIGERIA

Guarantor SOWSCO WELL SERVICES GIBRALTAR, GIBRALTAR, UNITED
KINGDOM

Buyer SOWSCO WELL SERVICES (NIGERIA) LTD., PORT HARCOURT
NIGERIA

End-user SOWSCO WELL SERVICES (NIGERIA) LTD., PORT HARCOURT
NIGERIA

Exporter STEWART & STEVENSON SVCS INC, HOUSTON TX

Supplier STEWART & STEVENSON SVCS INC, HOUSTON TX

Gteed Lender PNC BANK NATIONAL ASSOCIATION, PITTSBURGH PA

Project Description SUPPORT ACTIVITIES FOR OIL AND GAS OPER.

Product Description AUTOMATED CEMENT MIX SYSTEM & CEMENT UNIT

Financed Amount $ 867,934

Repayment Term 5 YEARS

Credit Committee Decision APPROVED