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THE WHITE HOUSE

Office of the Press Secretary

For Immediate Release May 8, 1996

PRESIDENT CLINTON NAMES MEMBERS TO THE FEDERAL NATIONAL MORTGAGE

ASSOCIATION BOARD OF DIRECTORS (FANNIE MAE)

President Clinton announced today his intent to appoint members to the Federal National Mortgage Association Board of Directors (Fannie Mae). These are all reappointments.

Mr. William M. Daley of Chicago, Illinois is currently a partner in the Mayer, Brown and Platt law firm in Chicago. He previously served as president and chief operating officer of the Amalgamated Bank of Chicago. Mr. Daley earned an A.B. from Loyola University, an L.L.B. from John Marshall Law School and an honorary degree of Doctor of Laws from John Marshall Law School in Chicago.

Mr. John Sasso of Wayland, Massachusetts is currently president of Advanced Strategies, Inc., a corporate communications and public affairs consulting firm. In 1988, he was campaign manager for Governor Mike Dukakis' Presidential campaign and previously served as chief of staff while he was Governor. Mr. Sasso earned a B.A. in Government from Boston University.

Mr. Jose H. Villarreal of San Antonio, Texas is currently an attorney with Akin, Gump, Strauss, Hauer & Feld, LLP law firm in San Antonio. Mr. Villarreal is also a member of the board of directors of the U.S. Hispanic Congressional Caucus and the National Council of La Raza. He earned a B.A. from Purdue University and a J.D. from Indiana University, School of Law in Bloomington.

Ms. Kathryn G. Thompson of Dana Point, California is currently the chair and chief executive officer of the Kathryn G. Thompson Company. Ms. Thompson is also a founding member of the Lusk Center for Real Estate, University of Southern California, School of Regional Planning. She earned a B.A. in Business Administration from Southern Methodist University.

Mr. Thomas A. Leonard of Philadelphia, Pennsylvania is currently a partner in the Obermayer, Rebmann, Maxwell & Hippel law firm in Philadelphia. He is also former controller for the city of Philadelphia. He earned a B.S. from Drexel University and a J.D. from Temple University Law School.

The Federal National Mortgage Association (Fannie Mae) is the largest investor in home mortgage loans and the third largest corporation, in terms of assets, in the United States. The Association makes mortgage funds available by buying conventional and government-issued mortgages in the secondary mortgage market; raising capital through the sale of short and long-term obligations, mortgages and stock; issuing and guaranteeing mortgage backed securities. The Board of Directors is responsible for determining the general policies that govern the operations of Fannie Mae.

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