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FANNIE MAE ISSUES DEBENTURE PRICING

 WASHINGTON, Jan. 5 /PRNewswire/ -- The Federal National Mortgage Association (Fannie Mae) (NYSE: FNM) issued the following:
 Date of Offering: Jan. 6, 1993
 Series: SM-1998-J SM-2003-A
 Price: 99.953125 pct. 99.859375 pct.
 Issue Date: Jan. 11, 1993
 Term: 5 years 10 years
 Callable on or after: N/A N/A
 Interest Rate: 6.05 pct. 6.80 pct.
 Yield: 6.061 pct. 6.820 pct.
 Amount (millions): $600 $600
 Maturity Date: 1/12/98 1/10/03
 CUSIP: 3135865Z8 3135866A2
 Date of First
 Interest Payment
 (then semi-annually): 7/12/93 7/10/93
 The net proceeds of this offering will be used to redeem the $500,000,000 of Series SM-1993-A, 10.90 percent debentures due Jan. 11, 1993, and 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 - Finance and Treasurer, Gary L. Perlin, and Vice President and Assistant Treasurer, Linda K. Knight, 3900 Wisconsin Avenue, N.W., Washington, D.C. 20016, assisted by a nationwide selling group of recognized securities dealers.
 The issues that are offered on Jan. 6, 1993, will be free to trade at 8:20 a.m. EST.
 -0- 1/5/92
 /CONTACT: Thomas Marder of Fannie Mae, 202-752-7608/
 (FNM)


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

TW -- DC013 -- 1794 01/05/93 13:49 EST
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Date:Jan 5, 1993
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