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FANNIE MAE BOARD OF DIRECTORS ELECTS NEW OFFICERS

 WASHINGTON, June 15 /PRNewswire/ -- The board of directors of Federal National Mortgage Association (Fannie Mae) (NYSE: FNM) announced today that it has elected four vice presidents.
 Jeffery R. Hayward was promoted to vice president for risk management. He is responsible for reviewing credit transactions and making recommendations to the Credit Policy Committee on their treatment. He also will coordinate communications among the company's five regional offices, and Fannie Mae's Marketing, Financial Analysis, and Credit Policy departments.
 Hayward has been with Fannie Mae since 1987, most recently serving as director of loan acquisition in the Northeastern Regional Office, in Philadelphia. He also has served in the roles of director of marketing, senior MBS representative, and senior negotiator. Prior to joining Fannie Mae, Hayward was vice president for residential loan production at Star States Mortgage Corporation, Wayne, Pa.
 Hayward earned a B.S. in business management from Widener University, Chester, Pa.
 Leanne G. Spencer was promoted to vice president for financial reporting. She is responsible for Fannie Mae's accounting operations relative to benefit plans, hedging and MBS trading operations, loan loss allowance, biweekly and special payrolls, and other general accounting functions.
 Spencer has been with Fannie Mae since 1991, most recently as director of financial reporting. Previously she was director of financial information, serving as the focal point for financial data resources and managing the single and multifamily information systems production cycles.
 Prior to joining Fannie Mae, Spencer was an independent consultant in the Washington area specializing in financial information and reporting issues. She also was the corporate controller for a national temporary help company and was employed by KPMG Peat Marwick as senior accountant.
 Spencer graduated magna cum laude from Wright State University, Dayton, Ohio, with a degree in accounting and finance.
 Craig D. Wildrick was named vice president for operations. He will be responsible for establishing a new business unit to redesign the processing system for packaging Fannie Mae's Mortgage-Backed Securities. All legal documentation on the securities now will be centralized in this new unit.
 Previously, Wildrick was senior vice president and chief operations officer with Continental Information Systems Corporation in Syracuse, N.Y. Prior to that, Wildrick was with the Citicorp Diners Club, where he last served as vice president for service, quality, technology, and training.
 Wildrick earned a B.S. in engineering from the United States Military Academy at West Point, a Master of Public Policy from the John F. Kennedy School of Government at Harvard University, and attended the U.S. Army Command and General Staff College.
 Barry Zigas was named vice president for housing impact policy. He will be responsible for making policy recommendations on issues affecting affordable housing and assisting in the implementation of those policies.
 Since 1984, Zigas has been president of the National Low Income Housing Coalition and executive secretary of the Low Income Housing Information Service - a housing advocacy membership organization and its affiliated research and policy group. Zigas led the policy development effort to create the low income housing tax credit and played a prominent role in the passing of the National Affordable Housing Act of 1990.
 Prior to 1984, Zigas was with the U.S. Conference of Mayors for eight years, ultimately as assistant executive director.
 Zigas earned a B.A. in history from Grinnell College, Grinnell, Iowa, and is a member of the Phi Beta Kappa.
 Fannie Mae is a congressionally chartered, shareholder-owned company and the nation's largest provider of home mortgage funds. Last year, the company funded mortgages for 2.9 million American families. Its headquarters is in Washington.
 -0- 6/15/93
 /CONTACT: David R. Jeffers of Fannie Mae, 202-752-5962/
 (FNM)


CO: Federal National Mortgage Association ST: District of Columbia IN: FIN SU: PER

IH-DC -- DC023 -- 2107 06/15/93 12:08 EDT
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Date:Jun 15, 1993
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