Fannie Mae announces New Zealand Dollar-Denominated Global.

WASHINGTON--(BUSINESS WIRE)--June 10, 1997--Fannie Mae (NYSE:FNM
FNM Free National Movement (Bahamas)
FNM Foot and Mouth ) Tuesday announced the first New Zealand dollar debt issue by a U.S. agency and the largest non-government New Zealand dollar-denominated issue ever.

The $500 million New Zealand dollar ($344 million U.S. dollars) 5-year global will settle on June 20; it was priced on June 6.

"This issue has found very strong support among institutional investors in Europe, the United States, and Asia, demonstrating how Fannie Mae's Global Debt Facility is expanding the company's ability to access capital from around the world for American home buyers," said Timothy Howard, Fannie Mae's executive vice president and chief financial officer.

The joint leads for the issue are Toronto Dominion Bank and Deutsche Morgan Grenfell.

To date, Fannie Mae has issued 36 globals, denominated in U.S. dollars, New Zealand dollars, deutschmarks, sterling and yen, totalling $19.142 billion. -0-

Fannie Mae is a congressionally chartered, shareholder-owned company and the nation's largest source of funds for home mortgages. It has committed to provide $1 trillion in targeted lending for 10 million homes by the end of the decade.

The targeted lending will serve low- and moderate-income families, minorities, new immigrants, residents of central cities and other underserved areas, and people who have special housing needs. More information about Fannie Mae can be found on the Internet at http://www.fanniemae.com.

Style Usage: Fannie Mae's Board of Directors has authorized the company to operate as "Fannie Mae," and the company's stock is now listed on the NYSE as "Fannie Mae." In order to facilitate clarity and avoid confusion news organizations are asked to refer to the company exclusively as "Fannie Mae."

CONTACT: Fannie Mae

Gene Eisman, 202/752-6673