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MEMORANDUM

Cover Policy Changes: A new CLS with the following cover policy changes is effective May 29, 2008:

Armenia	Opened for long-term transactions in the public sector and opened for long-term transactions in the private sector.
Bhutan:	Opened for long-term transactions in the private sector.
Kyrgyzstan:	Opened for short- and medium-term transactions in the public sector and opened for short- and medium-term transactions in the private sector.
Montenegro:	Opened for short-, medium-, and long-term transactions in the public sector and opened for short, medium, and long-term transactions in the private sector.

Note Changes: Please also be advised that changes to Notes have been made with respect to the following countries:

Armenia:	Added Note # 3 Removed Note # 13
Bhutan:	Removed Note #13
Kyrgyzstan:	Added Notes # 1, 3, 4, 5, 10
Montenegro:	Added Notes # 1, 3, 5

In addition, a number of changes were made concerning countries with
Note # 10.

Added Note #10	Added Note #10 cont.	Removed Note #10
Afghanistan	Kyrgyzstan	East Timor
Albania	Liberia	Ghana
Armenia	Macedonia	Kenya
Burkina Faso	Madagascar	Mali
Cameroon	Malawi	Montenegro
Cape Verde	Mauritania	Nigeria
Gabon	Moldova	Senegal
Gambia	Nicaragua	Serbia
Georgia	Rwanda	Zambia
Guinea	Sao Tome and Principe
Haiti	Sierra Leone
Iraq	Tanzania

Text Changes

The reference to the Coalition Provisional Authority has been removed from
Note # 14. The new Note # 14 appears as follows:

Ex-Im Bank cover/support may be available for transactions where the
primary source of repayment is the Development Fund for Iraq or
another entity or facility with access to foreign exchange and
protection from the claims of creditors of the former regime. Ex-Im
Bank cover/support also may be available for transactions where the
primary source of repayment is an acceptable financial institution or
other party located in a third country where Ex-Im Bank is open for
the amount and term of the proposed transaction.

In addition, coverage under the WCGP may be considered, subject to
additionality requirements, for subcontractors supported by U.S. Government
or internationally funded contracts. Delegated Authority is not available
under the WCGP for such coverage.

For more information, please visit Ex-Im Bank’s Web site at www.exim.gov or call 1-800-565-EXIM.

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