Summary of the Meeting of the Board of Directors

Date Scheduled

Completed

Agenda

I.NON-CLASSIFIED ITEMS:

OPEN:NONE


CLOSED:

1.Minutes of May 10, 2012 Board Meeting to be approved

2.Minutes of May 17, 2012 Board Meeting to be approved


TRANSPORTATION DIVISION

Pending Congressional Review - Expiry Date: 05-30-12

3A.COUNTRY:CHILE - AP087050XX

FOREIGN BUYER:SPV/Lan Airlines, S.A.

END USER:Lan Airlines, S.A.

PRODUCTS:Aircraft

(See Item No. 1A on the 04-26-12 Agenda - also see addendum)


Pending Congressional Review - Expiry Date: 05-30-12

3B.COUNTRY:CHILE - AP087050XA

FOREIGN BUYER:SPV/Lan Airlines, S.A.

END USER:Lan Airlines, S.A.

PRODUCTS:Aircraft

(See Item No. 1B on the 04-26-12 Agenda - also see addendum)



Pending Congressional Review - Expiry Date: 05-30-12

3C.COUNTRY:CHILE - AP087051XX

FOREIGN BUYER:SPV/Lan Airlines, S.A.

END USER:Lan Airlines, S.A.

PRODUCTS:Aircraft

(See Item No. 1C on the 04-26-12 Agenda - also see addendum)



Pending Congressional Review - Expiry Date: 05-30-12

3D.COUNTRY:CHILE - AP087052XX

FOREIGN BUYER:SPV/Lan Airlines, S.A.

END USER:Lan Airlines, S.A.

PRODUCTS:Aircraft

(See Item No. 1D on the 04-26-12 Agenda - also see addendum)



Pending Congressional Review - Expiry Date: 05-30-12

4.COUNTRY:CHINA - AP087009XX

FOREIGN BUYER:SPV/China Southern Airlines

END USER:China Southern Airlines

PRODUCTS: Aircraft

(See Item No. 2 on the 04-26-12 Agenda - also see addendum)



Pending Congressional Review - Expiry Date: 05-30-12

5A.COUNTRY:BRAZIL - AP087039XA

FOREIGN BUYER:SPV/TAM Linhas Aereas, S.A.

END USER:TAM Linhas Aereas, S.A

PRODUCTS:Aircraft

(See Item No. 3 on the 04-26-12 Agenda - also see addendum)



5B.COUNTRY:BRAZIL - AP087039XB

FOREIGN BUYER:SPV/TAM Linhas Aereas, S.A.

END USER:TAM Linhas Aereas, S.A

PRODUCTS:Aircraft

(See Item No. 3 on the 04-26-12 Agenda - also see addendum)



Pending Congressional Review - Expiry Date: 05-30-12

6A.COUNTRY: KOREA, SOUTH - AP086969XX

FOREIGN BUYER: SPV/Asiana Airlines

END USER:Asiana Airlines, Inc.

PRODUCTS: Aircraft

(See Item No. 4A on the 04-26-12 Agenda)



Pending Congressional Review - Expiry Date: 05-30-12

6B.COUNTRY: KOREA, SOUTH - PC087013XX

FOREIGN BUYER: SPV/Asiana Airlines

END USER:Asiana Airlines, Inc.

PRODUCTS: Aircraft

(See Item No. 4B on the 04-26-12 Agenda)



Pending Congressional Review - Expiry Date: 05-09-12

7.COUNTRY:RUSSIA - AP086502XX

FOREIGN BUYER:SPV/UTair Aviation

END USER:UTair Aviation

PRODUCTS:Aircraft

(See Item No. 2 on the 04-05-12 Agenda - also see addendum)



8A.COUNTRY:ETHIOPIA - AP081763XX (Conversion No. 1)

FOREIGN BUYER:SPV/Ethiopian Airlines SC

END USER:Ethiopian Airlines Enterprise SC

PRODUCTS:Aircraft

(Notes:NAC reviewed 07-07-05 at the PC stage; Congressional Expiry Date: 07-28-10)



8B.COUNTRY:ETHIOPIA - AP081763XX (Conversion No. 2)

FOREIGN BUYER:SPV/Ethiopian Airlines SC

END USER:Ethiopian Airlines Enterprise SC

PRODUCTS:Aircraft

(Notes:NAC reviewed 07-07-05 at the PC stage; Congressional Expiry Date: 07-28-10)



9.COUNTRY: BRAZIL - AP086822XX

FOREIGN BUYER: SPV/Lider Aircraft Leasing

END-USER: Lider Taxi Aereo, S.A.

PRODUCTS: Helicopters



10.COUNTRY:MONGOLIA - AP086991XX

FOREIGN BUYER: SPV/Miat Mongolian Airlines

END USER:Miat Mongolian Airlines

PRODUCTS:Aircraft



11.COUNTRY:CHINA - AP086127XX (Conversion No. 2)

FOREIGN BUYER:SPV/Air China

END-USER:Air China

PRODUCTS: Aircraft



12.COUNTRY:THE NETHERLANDS - AP087111XX

FOREIGN BUYER:SPV/Transavia.com Airlines

END-USER:Transavia.com Airlines CV

PRODUCTS: Aircraft



STRUCTURED FINANCE DIVISION

13.COUNTRY: BRAZIL - AP086774XX

BUYER:Wind Power Energia, S.A.

PRODUCTS:Wind Turbine Blades



II.CLASSIFIED ITEMS: NONE

Certification for Closure of Meeting

I, Lisa V. Terry, Assistant General Counsel for Administration (Acting) , hereby certify that in my opinion the Meeting of the Board of Directors scheduled for 9:30 AM on Thursday,May 31, 2012, 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 may be closed to the public.

Lisa V. Terry
Assistant General Counsel

Date Posted
Summary of Minutes

EXPORT-IMPORT BANK OF THE UNITED STATES

SUMMARY OF MINUTES OF THE MEETING OF BOARD OF DIRECTORS

May 31, 2012

ITEM NO 1 Minutes of May 10, 2012 Board Meeting to be approved.

Board Decision: APPROVED. Chairman Hochberg, Vice Chair Felton,

Director Mulvaney, Director Loui and Director Walther all voted

in favor of the minutes.


ITEM NO 2 Minutes of May 17, 2012 Board Meeting to be approved.

Board Decision: APPROVED. Chairman Hochberg, Vice Chair Felton,

Director Mulvaney, Director Loui and Director Walther all voted

in favor of the minutes.


ITEM NO 3A

Country CHILE AP087050XX

Request for FINAL COMMITMENT


Applicant LAN AIRLINES S.A., LAS CONDES, SANTIAGO CHILE

Borrower SPV/LAN AIRLINES S.A., SANTIAGO CHILE

Buyer SPV/LAN AIRLINES S.A., SANTIAGO CHILE

End-user LAN AIRLINES S.A., LAS CONDES, SANTIAGO CHILE

Exporter BOEING COMPANY, THE, EVERETT WA

Supplier BOEING COMPANY, THE, EVERETT WA

Supplier GENERAL ELECTRIC COMPANY, CINCINNATI OH

Supplier VARIOUS - UNITED STATES SMALL SUPPLIERS, UNKNOWN DC

Gteed Lndr JPMORGAN CHASE BANK, NEW YORK, NY

Lessor SPV/LAN AIRLINES S.A., SANTIAGO CHILE

Lessee LAN AIRLINES S.A., LAS CONDES, SANTIAGO CHILE

Cofin ECA NIPPON EXPORT AND INVESTMENT INSURANCE (NEXI), CHIYODA-KU TOKYO 101-0065 JAPAN


Project Name NONE

Project Description AIR TRANSPORTATION

Product Description AIRCRAFT

Repayment Term 12 YEARS


Board Decision: APPROVED. Chairman Hochberg, Vice Chair Felton, Director Mulvaney, Director Loui and Director Walther all voted in favor of the transaction.


ITEM NO 3B

Country CHILE AP087050XA

Request for FINAL COMMITMENT


Applicant LAN AIRLINES S.A., LAS CONDES, SANTIAGO CHILE

Borrower SPV/LAN AIRLINES S.A., SANTIAGO CHILE

Buyer SPV/LAN AIRLINES S.A., SANTIAGO CHILE

End-user LAN AIRLINES S.A., LAS CONDES, SANTIAGO CHILE

Exporter BOEING COMPANY, THE, EVERETT WA

Supplier BOEING COMPANY, THE, EVERETT WA

Supplier GENERAL ELECTRIC COMPANY, CINCINNATI OH

Supplier VARIOUS - UNITED STATES SMALL SUPPLIERS, UNKNOWN DC

Gteed Lndr JPMORGAN CHASE BANK, NEW YORK, NY

Lessor SPV/LAN AIRLINES S.A., SANTIAGO CHILE

Lessee LAN AIRLINES S.A., LAS CONDES, SANTIAGO CHILE

Cofin ECA NIPPON EXPORT AND INVESTMENT INSURANCE (NEXI), CHIYODA-KU TOKYO 101-0065 JAPAN


Project Name NONE

Project Description AIR TRANSPORTATION

Product Description AIRCRAFT

Repayment Term 12 YEARS


Board Decision: APPROVED. Chairman Hochberg, Vice Chair Felton, Director Mulvaney, Director Loui and Director Walther all voted in favor of the transaction.


ITEM NO 3C

Country CHILE AP087051XX

Request for FINAL COMMITMENT


Applicant LAN AIRLINES S.A., LAS CONDES, SANTIAGO CHILE

Borrower SPV/LAN AIRLINES S.A., SANTIAGO CHILE

Buyer SPV/LAN AIRLINES S.A., SANTIAGO CHILE

End-user LAN AIRLINES S.A., LAS CONDES, SANTIAGO CHILE

Exporter BOEING COMPANY, THE, EVERETT WA

Supplier BOEING COMPANY, THE, EVERETT WA

Supplier GENERAL ELECTRIC COMPANY, CINCINNATI OH

Supplier VARIOUS - UNITED STATES SMALL SUPPLIERS, UNKNOWN DC

Gteed Lndr JPMORGAN CHASE BANK, NEW YORK, NY

Lessor SPV/LAN AIRLINES S.A., SANTIAGO CHILE

Lessee LAN AIRLINES S.A., LAS CONDES, SANTIAGO CHILE

Cofin ECA NIPPON EXPORT AND INVESTMENT INSURANCE (NEXI), CHIYODA-KU TOKYO 101-0065 JAPAN


Project Name NONE

Project Description AIR TRANSPORTATION

Product Description AIRCRAFT

Repayment Term 12 YEARS


Board Decision: APPROVED. Chairman Hochberg, Vice Chair Felton, Director Mulvaney, Director Loui and Director Walther all voted in favor of the transaction.


ITEM NO 3D

Country CHILE AP087052XX

Request for FINAL COMMITMENT


Applicant LAN AIRLINES S.A., LAS CONDES, SANTIAGO CHILE

Borrower SPV/LAN AIRLINES S.A., SANTIAGO CHILE

Buyer SPV/LAN AIRLINES S.A., SANTIAGO CHILE

End-user LAN AIRLINES S.A., LAS CONDES, SANTIAGO CHILE

Exporter BOEING COMPANY, THE, EVERETT WA

Supplier BOEING COMPANY, THE, EVERETT WA

Supplier VARIOUS - UNITED STATES SMALL SUPPLIERS, UNKNOWN DC

Supplier ROLLS ROYCE ENGINE SERVICES-OAKLAND INC., OAKLAND CA

Gteed Lndr JPMORGAN CHASE BANK, NEW YORK, NY

Lessor SPV/LAN AIRLINES S.A., SANTIAGO CHILE

Lessee LAN AIRLINES S.A., LAS CONDES, SANTIAGO CHILE

Cofin ECA NIPPON EXPORT AND INVESTMENT INSURANCE (NEXI), CHIYODA-KU TOKYO 101-0065 JAPAN


Project Name NONE

Project Description AIR TRANSPORTATION

Product Description AIRCRAFT

Repayment Term 12 YEARS


Board Decision: APPROVED. Chairman Hochberg, Vice Chair Felton, Director Mulvaney, Director Loui and Director Walther all voted in favor of the transaction.


ITEM NO 4

Country CHINA AP087009XX

Request for FINAL COMMITMENT


Applicant CHINA SOUTHERN AIRLINES, GUANGZHOU GUANGDONG, CHINA(MAINLAND)

Borrower SPV/CHINA SOUTHERN AIRLINES, GUANGZHOU GUANGDONG CHINA(MAINLAND)

Buyer SPV/CHINA SOUTHERN AIRLINES, GUANGZHOU GUANGDONG CHINA(MAINLAND)

End-user CHINA SOUTHERN AIRLINES, GUANGZHOU GUANGDONG, CHINA(MAINLAND)

Exporter BOEING COMPANY, THE, EVERETT WA

Exporter BOEING COMPANY, THE, RENTON WA

Supplier GENERAL ELECTRIC COMPANY, CINCINNATI OH

Supplier VARIOUS - UNITED STATES SMALL SUPPLIERS, UNKNOWN DC

Supplier ADDITIONAL SUPPLIERS

Gteed Lndr MIZUHO CORPORATE BANK, LTD., TOKYO JAPAN

Lessor SPV/CHINA SOUTHERN AIRLINES, GUANGZHOU GUANGDONG CHINA(MAINLAND)

Lessee CHINA SOUTHERN AIRLINES, GUANGZHOU GUANGDONG, CHINA(MAINLAND)

Cofin ECA NIPPON EXPORT AND INVESTMENT INSURANCE (NEXI), CHIYODA-KU TOKYO 101-0065 JAPAN


Project Name NONE

Project Description AIR TRANSPORTATION

Product Description AIRCRAFT

Repayment Term 12 YEARS


Board Decision: APPROVED. Chairman Hochberg, Vice Chair Felton, Director Mulvaney, Director Loui and Director Walther all voted in favor of the transaction.


ITEM NO 5A

Country BRAZIL AP087039XA

Request for FINAL COMMITMENT


Applicant TAM LINHAS AEREAS S/A., SAO PAULO 04072-000 BRAZIL

Borrower SPV/TAM LINHAS AEREAS S.A., SAO PAULO 04072-000 BRAZIL

Buyer SPV/TAM LINHAS AEREAS S.A., SAO PAULO 04072-000 BRAZIL

End-user TAM LINHAS AEREAS S/A., SAO PAULO 04072-000 BRAZIL

Exporter BOEING COMPANY, THE, EVERETT WA

Supplier GENERAL ELECTRIC COMPANY, CINCINNATI OH

Supplier VARIOUS - UNITED STATES SUPPLIERS, UNKNOWN DC

Supplier BOEING COMPANY, THE, EVERETT WA

Gteed Lndr CREDIT AGRICOLE SA, PARIS, VILLE DE P 75015 FRANCE

Gteed Lndr APPLE BANK FOR SAVINGS, NEW YORK NY

Lessor SPV/TAM LINHAS AEREAS S.A., SAO PAULO 04072-000 BRAZIL

Lessee TAM LINHAS AEREAS S/A., SAO PAULO 04072-000 BRAZIL

Cofin ECA NIPPON EXPORT AND INVESTMENT INSURANCE (NEXI), CHIYODA-KU TOKYO 101-0065 JAPAN


Project Name NONE

Project Description AIR TRANSPORTATION

Product Description AIRCRAFT

Repayment Term 12 YEARS


Board Decision: APPROVED. Chairman Hochberg, Vice Chair Felton, Director Mulvaney, Director Loui and Director Walther all voted in favor of the trans