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MEMORANDUM

Cover Policy Changes: A new CLS with the following cover policy changes is effective February 26, 2009:

Kenya:	Opened for long-term transactions in the public sector and opened for long-term transactions in the private sector.
Marshall Islands:	Opened for short-, medium, and long-term transactions in the public sector and opened for long-term transactions in the private sector.
Mongolia:	Opened for 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:

Kenya:	Removed Note # 13
Marshall Islands:	Added Note # 1, Removed Note # 13
Mongolia:	Removed Note # 13

Text Changes

Note # 14 has been removed from the CLS. 

In addition, the word “guarantees” in the first paragraph of Note # 13 has been replaced with the word “support”.  The new Note # 13 will read as follows:

Where the CLS indicates support is not available, Ex-Im Bank can still consider financing arrangements that eliminate or externalize country risks.  Potentially acceptable transactions include structured transactions that earn revenues offshore in a country with no CLS restrictions and are held in a bank or trust account acceptable to Ex-Im Bank; third-party support from creditworthy entities in countries with no CLS restriction; and asset-backed lease and financing structures involving equipment such as aircraft.

In addition, coverage under the WCGP may be available for a transaction that is supported by an irrevocable Letter of Credit issued by a bank, and/or due from a Buyer, located in a country where Ex-Im Bank is open without restrictions for short-term transactions.

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

Country Limitation Schedule