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FANNIE MAE FOUNDATION PLEDGES $100,000 TO SUPPORT THE MAYOR'S YOUTH INITIATIVE; 37 NEW STUDENTS INDUCTED INTO THE FUTURES 500 CLUB

FANNIE MAE FOUNDATION PLEDGES $100,000 TO SUPPORT THE MAYOR'S YOUTH
 INITIATIVE; 37 NEW STUDENTS INDUCTED INTO THE FUTURES 500 CLUB
 WASHINGTON, March 18 /PRNewswire/ -- During the spring induction ceremony for the Futures 500 Club, a high school incentive scholarship program sponsored by the Federal National Mortgage Association (Fannie Mae) (NYSE: FNM), Chairman James A. Johnson today announced that the company's foundation has pledged $100,000 to support the Mayor's Youth Initiative.
 "I applaud Fannie Mae for its financial pledge to the District's youth. I encourage other organizations in the private industry to follow the lead of Fannie Mae in supporting our Youth Initiative through economic partnership," said Mayor Sharon Pratt Kelly, who attended today's ceremony.
 "There is a link between youth, communities, and the organizations and schools that serve them. That's why partnerships like Fannie Mae's and Woodson's are so great. And that's why our special partnership with the Mayor's Youth Initiative is so important," said Johnson.
 The funds will be targeted to community-based organizations that offer youth leadership, parental involvement, tutoring, and mentoring services. The Washington Parent Group Fund will administer the Youth Initiative grants for the Fannie Mae Foundation. They will be responsible for identifying the organizations that qualify for the grants. Fannie Mae expects to reach 65 to 70 organizations that are making a difference in the community.
 At today's ceremony, the first grant of $5,000 was awarded to Young People on the Rise, which has been instrumental in educating youth about the dangers of the drug culture in the District's communities, particularly in the Paradise, Mayfair, and Parkside areas. Many of the members of Young People on the Rise also are members of the Futures 500 Club.
 The Futures 500 Club is a business/educational partnership between H.D. Woodson Senior High School and Fannie Mae that was initiated in the fall of 1988. At that time, Fannie Mae committed $1 million over a 10-year period for scholarships to students of H.D. Woodson Senior High School. Any student who earns all A's and B's is eligible to receive $500 per semester toward his/her college or post- high school education.
 In addition, each student is matched with a Fannie Mae employee volunteer mentor who provides career guidance as well as assistance with the college application process. Futures 500 members also are eligible for summer internships at Fannie Mae.
 During today's ceremony, 37 Woodson students were inducted into the Futures 500 Club. To date, there have been more than 250 Woodson students in the Futures 500 program. Currently, 119 Futures 500 graduates are enrolled in 43 colleges in the East and the Midwest. Thus far, the students have earned more than $300,000 in scholarship money from the Fannie Mae Foundation.
 The primary goal of the Fannie Mae Foundation is to support national and local non-profit organizations working to provide decent and affordable housing in communities throughout the United States. The foundation also funds education, health, and human development programs that enhance individual potential with a special concern for youth. The foundation plans to make $6 million in grants in 1992. Its sole source of support is Fannie Mae, the USA's Housing Partner, which is a congressionally chartered, shareholder-owned corporation, and the nation's largest investor in home mortgages.
 -0- 3/18/92
 /NOTE: A list of the spring 1992 inductees into the Futures 500 Club follows:
 Futures 500 Club
 Spring 1992 Inductees
 Jerohn Anderson (10)(A)
 Danielle Banks (10)
 Carlette Bethea (10)
 Cherron Brown (11)
 Khary Burton (11)
 Yameen Chestnut (11)
 Samuel Covert (11)
 Kashira Cummings (10)
 LaTasha Davis (10)
 Kevonya Dickens (10)
 Suriya Douglas (11)
 Percy Edwards (11)
 William Ellis (10)
 Antonia Fells (10)
 James Fleming (10)
 Virginia Fletcher (11)
 Latrice Harris (10)
 Crystal Harvey (9)
 Curtis Hensley (11)
 Melba Johnson (10)
 LaKisha Lacey (10)
 Trecia Lewis (11)
 Lawrence Mason (10)
 Sherrie McDowell (10)
 Tanya McKelvin (11)
 Jamie Morse (10)
 Jueshia Palmore (11)
 Raquel Richardson (11)
 Javier Russell (10)
 Kimberly Scates (10)
 Anreace Seabrooks (11)
 LaKisha Shaw (11)
 Kimberly Simpkins (11)
 Rychelle Stone (11)
 Sharlyndra Turner (10)
 Kisha White (11)
 Linda Wilkins (11)
 (A) Denotes current grade level./
 /CONTACT: Janice Daue of the Federal National Mortgage Association, 202-752-3421/
 (FNM) CO: Federal National Mortgage Association ST: District of Columbia IN: FIN SU:


DC -- DC006 -- 9158 03/18/92 10:35 EST
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Date:Mar 18, 1992
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