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FARM CREDIT BANK OF COLUMBIA CERTIFIED AS A FARMER MAC POOLER; FIRST FARM CREDIT SYSTEM POOLER

 WASHINGTON, Jan. 11 /PRNewswire/ -- The Federal Agricultural Mortgage Corporation (Farmer Mac), announced today that The Farm Credit Bank of Columbia (the Columbia Bank) has been certified as a "pooler" (certified facility) in the Farmer Mac I program. The Columbia Bank is the Farm Credit System (FCS) bank serving the four state area of North Carolina, South Carolina, Georgia and Florida.
 "We are very pleased to announce the certification of the Columbia Bank, the first FCS institution to become a Farmer Mac pooler," Farmer Mac President Henry Edelman stated. "We have worked hard to design the Farmer Mac programs to meet the needs of all agricultural lenders, FCS institutions and non-FCS institutions alike. This certification should make the benefits of the secondary market available to farmers and rural homeowners who are FCS borrowers, in addition to those already benefiting as bank and insurance company borrowers. The Farmer Mac team is looking forward to exploring loan securitization opportunities with the Columbia Bank," he continued.
 The Columbia Bank, acting through the 19 Agricultural Credit Associations (associations) of the Third Farm Credit District which it serves, is a major agricultural and rural housing lender serving the southeastern region of the United States. The total Columbia Bank loan portfolio exceeded $4 billion at the end of 1992. Associations are direct lenders to farmers, ranchers, growers, rural homeowners and agribusiness firms.
 The Columbia Bank was formed by the July 1988 merger of the Federal Land Bank of Columbia and the Federal Intermediate Credit Bank of Columbia. The associations were chartered in April 1991.
 The Columbia Bank joins Chemical Securities Corporation, Equitable Agri-Business, Goldman Sachs Mortgage Company, John Hancock Mutual Life Insurance Company, Prudential Agricultural Credit, Inc., Prudential Securities Corporation, and the Travelers Realty Investment Company as certified Farmer Mac poolers.
 1992 -- A Year of Significant Progress
 For Farmer Mac, 1992 was a year of major accomplishments and significant progress. Three major pools, representing agricultural loans worth almost $600 million, were formed in Farmer Mac I. Farmer Mac's Linked Portfolio Strategy was implemented and has proven effective. The first public sale of Farmer Mac mortgage-backed securities took place in October and achieved pricing levels approximately equivalent to comparable securities issued by the established housing secondary market agencies. Two new poolers, Travelers Realty Investment Company (reference Farmer Mac release, Dec. 29, 1992) and Columbia Bank, were certified in December and opportunities for the formation of additional pools were being actively pursued by several poolers as the year came to a close.
 -0- 1/11/93
 /CONTACT: Thomas R. Clark of Farmer Mac, 202-872-7700/


CO: Farmer Mac; The Farm Credit Bank of Columbia ST: District of Columbia IN: FIN SU:

DC -- DC003 -- 3441 01/11/93 10:03 EST
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Date:Jan 11, 1993
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