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FANNIE MAE ISSUES DEBENTURE PRICING

 FANNIE MAE ISSUES DEBENTURE PRICING
 WASHINGTON, Aug. 4 /PRNewswire/ -- The Federal National Mortgage


Association (Fannie Mae) (NYSE: FNM) issued the following debenture pricing:
 Date of Offering: Aug. 5, 1992
 Series: SM-1997-Q SM-1999-H SM-2002-H
 Price: Par 99.9375 99.71875
 Issue Date: Aug. 10, 1992
 Term: 5 years 7 years 10 years
 Callable on or after: 8/11/93 N/A 8/12/97
 Interest Rate: 5.95 pct. 6.350 pct. 7.00 pct.
 Yield: 5.950 pct. 6.361 pct. 7.040 pct.
 Amount (millions): $600 $600 $500
 Maturity Date: 8/11/97 8/10/99 8/12/02
 CUSIP: 3135865K1 3135865L9 3135865M7
 Date of First
 Interest Payment
 (then semi-annually): 2/11/93 2/10/93 2/12/93
 The debentures of Aug. 11, 1997, are redeemable on or after Aug. 11, 1993, and the debentures of Aug. 12, 2002, are redeemable on or after Aug. 12, 1997. Those debentures are redeemable in whole or in part at the option of the corporation at any time (and from time to time) at 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 $800 million of Series SM-1992-M, 7.75 percent debentures due Aug. 10, 1992, 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's senior vice president-finance and treasurer, Gary L. Perlin, and vice president and assistant 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 Aug. 5, 1992, will be free to trade at 8:20 a.m. EDT.
 -0- 8/4/92
 /CONTACT: Gene Eisman of Fannie Mae, 202-752-6673/ CO: Fannie Mae ST: District of Columbia IN: FIN SU:


DC -- DC012 -- 6689 08/04/92 13:23 EDT
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Date:Aug 4, 1992
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/C O R R E C T I O N -- FANNIE MAE/

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