EXPORT-IMPORT BANK OF THE UNITED STATES

             SUMMARY OF MINUTES OF MEETING OF BOARD OF DIRECTORS

                                JULY 10, 2003

ITEM NO 1  Minutes of June 26, 2003 Board Meeting to be approved.

           Board Decision:  APPROVED

ITEM NO 2

Country INDIA                       AP079646XX

Request for FINAL COMMITMENT

Applicant      JET AIRWAYS (INDIA) PVT. LTD., MUMBAI - 400021 INDIA

Borrower       SPV/JET AIRWAYS, CAYMAN ISLANDS CAYMAN ISLANDS

Guarantor      NONE

Buyer          SPV/JET AIRWAYS, CAYMAN ISLANDS CAYMAN ISLANDS

End-user       JET AIRWAYS (INDIA) PVT. LTD., MUMBAI - 400021 INDIA

Exporter       BOEING COMPANY, THE, RENTON WA

Supplier       CFM INTERNATIONAL INC, CINCINNATI OH

Supplier       BOEING COMPANY, THE, RENTON WA

Gteed Lender   BARCLAYS BANK INTERNATIONAL, NEW YORK NY

Lessor         SPV/JET AIRWAYS, CAYMAN ISLANDS CAYMAN ISLANDS

Lessee         JET AIRWAYS (INDIA) PVT. LTD., MUMBAI - 400021 INDIA

Cofin ECA      NONE

Project Name   NONE

Project Description AIR TRANSPORTATION

Product Description AIRCRAFT

Repayment Term:  12 YEARS

Board Decision APPROVED