ADVISORY/ More Than 9,800 Families Benefit From Fannie Mae's HouseDetroit Affordable Housing Plan; Company Exceeds Goal With More Than $560 Million Invested in Three Years.

    News & Assignment Editors
    ADVISORY...for Monday (April 24)

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WHEN:    Monday, April 24, 2000
         10 a.m.

WHO:     The Honorable John Conyers Jr. (D-MI)
         United States Congress

         Carolyn Kilpatrick (D-MI)
         United States Congress

         The Honorable Dennis Archer
         Detroit Mayor

         The Honorable Gil Hill
         Detroit City Council President

         Theresa Moses
         Detroit resident and first-time homeowner

         Maureen Warren
         Vice President, Housing and Community Development,
         Fannie Mae Midwest Regional Office

         Dave Dworkin
         Director, Fannie Mae Detroit Partnership Office

WHAT:    Reps. Conyers and Kilpatrick, Mayor Archer, and City
         Council President Hill will join representatives
         from Fannie Mae (FNM/NYSE), the nation's largest
         source of financing for home mortgages, to celebrate
         the early completion of Fannie Mae's HouseDetroit
         Investment Plan. Since HouseDetroit was first
         announced in 1997, the company has provided more
         than $560 million in affordable housing financing,
         serving more than 9,800 families in just three
         years, exceeding the initial $400 million commitment
         to serve 8,500 families over five years. Fannie Mae
         also will announce a significant new investment in
         the city.

WHERE:   4255 Wayburn, Detroit, MI

    Directions: From Northwest Suburbs, take US 10 (Lodge Freeway)
south to I 94 East. Exit at Chalmers and go right (south) to Warren.
From the East side, take I-94 to Alter Road and turn left (south) to
Warren. From Downtown, take I-75 North to I-94 East. Exit at Chalmers
and turn right (south) to Warren.

    Fannie Mae is a New York Stock Exchange company and the largest
non-bank financial services company in the world. It operates pursuant
to a federal charter and is the nation's largest source of financing
for home mortgages. Over the past 31 years, Fannie Mae has provided
nearly $2.8 trillion of mortgage financing for over 34 million
families. More information about Fannie Mae can be found on the
Internet at http://www.fanniemae.com.

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    CONTACT: Fannie Mae
             Deborah D. Russell, 312/368-6286
             800/759-8888 pin: 1576056

    KEYWORD: DISTRICT OF COLUMBIA
    INDUSTRY KEYWORD:  BANKING REAL ESTATE ADVISORY