Press release: October 2000

INCREASE IN BUSINESS COVERED
The Members of the Berne Union, who had their Annual General Meeting in Amsterdam on 18 October, saw their total insured business increase from US$385 billion in 1998 to US$426 billion in 1999.

Medium and Long Term export credit business went up to US$67 billion, Short Term business to US$345 billion.

Insurance of foreign direct investment continued the upward trend started in the early nineties.  During 1999, their new insured investments amounted to US$14 billion.

Total exposure of Berne Union Members amounted to US$577 billion at the end of 1999, of which US$516 billion related to export credits and US$61 to investment.

PRESIDENT AND VICE PRESIDENT
In Amsterdam, Mr. Doron Klausner, Managing Director of the Israel Foreign Trade Risks Insurance Corporation (IFTRIC) was re-elected as President of the Union.

Mr. Ahmet Kiliçoglu, General Manager of the Export Credit Bank of Turkey (TURK EXIMBANK) was elected as Vice President.

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