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WESTERN FARM CREDIT BANK CERTIFIED AS A FARMER MAC POOLER

 WASHINGTON, April 27 /PRNewswire/ -- The Federal Agricultural Mortgage Corporation (Farmer Mac), announced today that the Western Farm Credit Bank (Western) has been certified as a "pooler" (Certified Facility) in the Farmer Mac I program. Western is the Farm Credit System (FCS) bank serving agricultural and rural housing borrowers in the Eleventh Farm Credit District which includes California, Arizona, Nevada, Utah, Idaho and Hawaii. Western's principal offices are located in Sacramento, Calif.
 "We are very pleased to welcome the Western Farm Credit Bank as the newest Farmer Mac certified pooler," Farmer Mac President Henry Edelman stated. "The Farmer Mac team has consistently worked with eligible agricultural lenders across the nation to develop a program that efficiently complements their efforts to meet the needs of the agricultural borrowers they serve," he continued. Observing that Western is now the second FCS bank to become certified as a Farmer Mac pooler, Edelman noted that its decision to seek certification "was a welcome indication that we have made tangible progress in achieving our goal of providing an effective secondary market program for the institutions of the FCS, as well as for other agricultural lenders."
 Western was chartered on July 1, 1988 from the merger of the Federal Land Bank of Sacramento and the Federal Intermediate Credit Bank of Sacramento. Its primary mission is to serve as the wholesale supplier of agricultural credit for a network of Federal Land Credit, Production Credit and Agricultural Credit Associations and other Financing Institutions in the District. In addition, Western serves as a direct mortgage lender through four Federal Land Bank Associations. At the end of 1992, the combined loan portfolio for the Western Farm Credit District totaled nearly $5 billion.
 According to bank representatives, Western, which has over 75 years' experience as an agricultural lender, sought pooler certification after concluding that active participation in Farmer Mac would benefit its associations and borrowers alike. Pooler certification opens the door for Western and its associations to offer wider choices of competitive loan products to the farm and ranch borrowers they serve. In addition, pooler certification will enable Western to develop and implement an efficient operation for pooling, securitizing and servicing agricultural loans originated by other eligible lenders.
 Western joins Chemical Securities Corporation, Goldman Sachs Mortgage Company, Prudential Agricultural Credit, Inc., Prudential Securities Corporation, John Hancock Mutual Life Insurance Company, Equitable Agri-Business, the Travelers Realty Investment Company and The Farm Credit Bank of Columbia as certified Farmer Mac poolers.
 -0- 4/27/93
 /CONTACT: Thomas R. Clark of Farmer Mac, 202-872-7700/


CO: Federal Agricultural Mortgage Corporation ST: District of Columbia, California IN: FIN SU:

IH-KD -- DC010 -- 1270 04/27/93 10:58 EDT
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Date:Apr 27, 1993
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