EXPORT-IMPORT BANK OF THE UNITED STATES

SUMMARY OF MINUTES OF MEETING OF BOARD OF DIRECTORS

DECEMBER 22, 2004

ITEM NO 1

Country EGYPT AP078068XX

Request for FINAL COMMITMENT

Applicant SOCIETE GENERALE, NEW YORK NY

Borrower EGYPT BASIC INDUSTRIES CORP., DOKKI, GIZA EGYPT

Guarantor NONE

Buyer EGYPT BASIC INDUSTRIES CORP., DOKKI, GIZA EGYPT

End-user EGYPT BASIC INDUSTRIES CORP., DOKKI, GIZA EGYPT

Exporter MAYER BROWN ROWE & MAW, CHICAGO IL

Exporter HSBC SECURITIES INC, NEW YORK NY

Exporter ADDITIONAL EXPORTERS

Supplier ENERGY EXCHANGER COMPANY, TULSA OK

Supplier JETT WELD INC, HOUSTON TX

Supplier ADDITIONAL SUPPLIERS

Gteed Lender SOCIETE GENERALE, NEW YORK NY

Project Name EBIC AMMONIA PROJECT

Project Description AMMONIA PLANT

Product Description ENGINEERING SRVICES & EQUIPMENT

Board Decision REFER TO CONGRESS