ADVISORY/Fannie Mae to Sign Historic $50 Million Partnership Deal With the National Urban League.

Business Editors

ADVISORY...for Mon. (Nov. 13)

--(BUSINESS WIRE)

WHO:    The National Urban League and Fannie Mae

WHAT:   During the National Urban League's 44th Annual Equal
        Opportunity Day (EOD) Awards Dinner, the National Urban League
        and Fannie Mae will sign an historic "memorandum of
        understanding" (MOU) to cement a five year partnership that is
        designed to increase the rate of homeownership among minority
        populations.

          Under the terms of the agreement, Fannie Mae intends to
        provide the League with up to $50 million in mortgage
        products during the term of the partnership, including special
        mortgage financing through Fannie Mae approved lenders. The
        company will also provide the National Urban League's more
        than 100 affiliates across the country with training,
        materials, and technology--including computers, printers, and
        software--in order to build the affiliates' capacity to
        provide high-quality and comprehensive home buying services to
        consumers.

          For its part, the National Urban League is committing to
        providing homebuyer education--including credit, financial
        management and homeownership resource information--to
        approximately 10,000 minority households in areas served by
        its affiliates during the five years of the terms of the
        partnership.

          Fannie Mae President and CEO Franklin Raines is also receiving
        the League's National Public Service Award in recognition of
        his path finding role heading the Office of Management and
        Budget and subsequently shattering the glass ceiling and CEO
        barrier.

          The League's Annual EOD Awards Dinner honors individuals and
        corporations who perpetuate the principle of equal opportunity
        and exhibit leadership qualities that result in notable
        contributions to the cause of equal rights. Proceeds from the
        dinner benefit the League's education, technology, economic
        self-sufficiency and racial inclusion initiatives.

          John Thain, President and Co-Chief Operating Officer, Goldman
        Sachs Group, Inc., is the Dinner Chairman, and Roz Abrams,
        Anchor, Eyewitness News, WABC-TV, Channel 7, New York, is the
        Mistress of Ceremonies.

WHERE:  Pier Sixty, Chelsea Piers, West 23rd Street and the Hudson
        River.

WHEN:   Wednesday, Nov. 15, 2000
        6:00 PM - Signing of the MOU; 7:00 PM - Awards Dinner
        This is a black tie event, open to press.


CONTACT: RSVP, arrange interviews or coordinate photo ops, call
         Leslie Dunbar, 212/558-5438