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FANNIE MAE ISSUES DEBENTURE ANNOUNCEMENT

 WASHINGTON, Dec. 3 /PRNewswire/ -- The Federal National Mortgage Association (Fannie Mae) (NYSE: FNM) issued the following debenture announcement:
 Date of Offering: Dec. 8, 1993
 Series: SM-1998-U SM-2003-I
 Issue Date: Dec. 10, 1993
 Term: 5 years 10 years
 Callable on or after: 12/10/96 N/A
 Amount: $1.0 billion $800 million
 Maturity Date: 12/10/98 12/10/03
 CUSIP: 31359CAJ4 31359CAK1
 Date of First
 Interest Payment
 (then semi-annually): 06/10/94 06/10/94
 Date interest rates
 and prices will
 be announced Dec. 7, 1993
 The debentures of Dec. 10, 1998, are redeemable on or after Dec. 10, 1996, and the debentures of Dec. 10, 2003, are not redeemable before maturity. The debentures of Dec. 10, 1998, are redeemable in whole or in part at the option of the corporation at any time (and from time to time) on or after the initial redemption date at a redemption price of 100 percent of the principal amount redeemed plus accrued interest thereon to the date of redemption.
 The net proceeds of this offering will be used to redeem the $656 million of Series SM-1993-H, 7.375 percent debentures due Dec. 10, 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 Senior Vice President and Treasurer Linda K. Knight, 3900 Wisconsin Ave. N.W., Washington, D.C. 20016, assisted by a nationwide selling group of recognized securities dealers.
 The issues that are offered on Dec. 8, 1993, will be free to trade at 8:20 a.m. EST.
 -0- 12/3/93
 /CONTACT: Thomas Marder of Fannie Mae, 202-752-7608/
 (FNM)


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

DC-MH -- DC004 -- 0151 12/03/93 10:34 EST
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Publication:PR Newswire
Date:Dec 3, 1993
Words:317
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