EXPORT-IMPORT BANK OF THE UNITED STATES
SUMMARY OF MINUTES OF MEETING OF BOARD OF DIRECTORS
JULY 9, 2009

ITEM NO 1 Resolution presented to J. Joseph Grandmaison, Director,
upon his resignation.
Board Decision: Adopted

ITEM NO 2A
Country PANAMA AP083274XX
Request for FINAL COMMITMENT Conversion No 3

Applicant CIA PANAMENA DE AVIACION S.A., PANAMA CITY PANAMA
Borrower SPV/COPA HOLDINGS S.A., PANAMA CITY PANAMA
Buyer SPV/COPA HOLDINGS S.A., PANAMA CITY PANAMA
End-user CIA PANAMENA DE AVIACION S.A., PANAMA CITY PANAMA
Exporter BOEING COMPANY, THE, RENTON WA
Supplier CFM INTERNATIONAL INC, CINCINNATI OH
Supplier VARIOUS - UNITED STATES SMALL SUPPLIERS, UNKNOWN DC
Supplier BOEING COMPANY, THE, RENTON WA
Gteed Lender PRIVATE EXPORT FUNDING CORP, NEW YORK NY
Lessor SPV/COPA HOLDINGS S.A., PANAMA CITY PANAMA
Lessee CIA PANAMENA DE AVIACION S.A., PANAMA CITY PANAMA

Project Name NONE
Project Description AIR TRANSPORTATION
Product Description AIRCRAFT
Repayment Term 12 YEARS

Board Decision APPROVED