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Summary of the Meeting of the Board of Directors

Tuesday, March 29, 2011
 
Completed

CERTIFICATION FOR CLOSURE OF MEETING

I, Jonathan J. Cordone, hereby certify that in my opinion the Meeting of the Board of Directors scheduled for 9:30 AM on Thursday, March 29, 2011 in the Board Room will disclose information of the kind set forth in Subsection (4) of Section 552b(c), Title 5 of the United States Code.

Accordingly, such meeting, except Item No. 1, may be closed to the public.

Date Posted: Tuesday, March 22, 2011

EXPORT-IMPORT BANK OF THE UNITED STATES

SUMMARY OF MINUTES OF THE MEETING OF BOARD OF DIRECTORS

MARCH 29, 2011

ITEM NO. 1 Request to adopt a single long-term local cost policy based on the existing
local cost policy for limited recourse project finance transactions.
Board Decision: APPROVED. Chairman Hochberg, Director Kian and
Director Farrell all approved the request.

ITEM NO. 2 Minutes of February 24, 2011 Board Meeting to be approved
Board Decision: APPROVED. Chairman Hochberg, Director Kian and
Director Farrell all approved the minutes.

ITEM NO. 3 Minutes of March 3, 2011 Board Meeting to be approved
Board Decision: APPROVED. Chairman Hochberg, Director Kian and
Director Farrell all approved the minutes.

ITEM NO 4
Country UNITED KINGDOM AP085168XX
Request for AMENDMENT

Applicant ING CAPITAL LLC, NEW YORK NY
Borrower INMARSAT INVESTMENT LIMITED, LONDON, EC1Y 1AX UNITED KINGDOM
Guarantor VARIOUS GUARANTORS, UNKNOWN NY
Buyer INMARSAT AG, SCHAFFHAUSEN 8201 SWITZERLAND
End-user INMARSAT AG, SCHAFFHAUSEN 8201 SWITZERLAND
Exporter BOEING SATELLITE SYSTEMS INC, EL SEGUNDO CA
Supplier BOEING SATELLITE SYSTEMS INC, EL SEGUNDO CA
Gteed Lender NONE

Project Name INMARSAT 5
Project Description COMMUNICATION SATELLITE SYSTEM
Product Description SATELLITES
Financed Amount $710,010,674
Repayment Term 8.6 YEARS

Board Decision: APPROVED. Chairman Hochberg and Director Kian both voted in favor of the amendment. Director Farrell recused herself.

ITEM NO 5
Country RUSSIA Policy No: ESS-497757
Request for Short-Term Single-Buyer Insurance

Insured/Exporter: BENDTEC, INC., DULUTH MN
Buyer: OJSC TECHNOPROMEXPORT, MOSCOW, RUSSIA
End User: NTPC LIMITED, PATNA, INDIA
Issuing Bank: JSC VTB BANK, SAINT PETERSBURG, RUSSIA
Broker: TRADE ACCEPTANCE GROUP, LTD., EDINA, MN
Products/Use: FABRICATED BOILER PIPE AND PIPE FITTINGS
Ex-Im Bank Liability (Millions): $20+

Board Decision: APPROVED. Chairman Hochberg, Director Kian and Director Farrell
all voted in favor of the transaction.