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FANNIE MAE ANNOUNCES DEBENTURE PRICING

 WASHINGTON, March 18 /PRNewswire/ -- The Federal National Mortgage Association (Fannie Mae) (NYSE: FNM) announced the following debenture pricing:
 Date of Offering: March 19, 1993
 Series: SM-1998-L SM-2003-B
 Price: 99.375 99.8593
? Issue Date: March 25, 1993
 Term: 5 years 10 years
 Callable on or after: N/A 3/25/98
 Interest Rate: 5.25 percent 6.40 percent
 Yield: 5.264 percent 6.419 percent
 Amount (millions): $400 $500
 Maturity Date: 3/25/98 3/25/03
 CUSIP: 3135867R4 3135867S2
 Date of First
 Interest Payment
 (then semi-annually): 9/25/93 9/25/93
 The debentures of March 25, 1998, are not redeemable before maturity. The debentures of March 25, 2003 are redeemable on or after March 25, 1998. The debentures are redeemable in whole or in part at the option of the corporation at any time (and from time to time) on or after the initial redemption date at a redemption price of 100 percent of the principal amount redeemed plus accrued interest thereon to the date of redemption.
 The net proceeds of this offering will be added to the working capital of the Federal National Mortgage Association and used for general corporate purposes.
 Debentures will be issued in book-entry form only. The minimum purchase is $10,000 and multiples of $5,000 thereafter. The offering is being made through Fannie Mae's Senior Vice President and treasurer, Linda K. Knight, 3900 Wisconsin Ave. N.W., Washington, D.C., 20016, assisted by a nationwide selling group of recognized securities dealers.
 The issues that are offered on March 19, 1993, will be free to trade at 8:20 a.m. EST.
 -0- 3/18/93
 /CONTACT: Tom Marder of Fannie Mae, 202-752-7608/
 (FNM)


CO: Fannie Mae ST: District of Columbia IN: FIN SU:

KD-TW -- DC016 -- 0164 03/18/93 13:53 EST
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Publication:PR Newswire
Date:Mar 18, 1993
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