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THE WHITE HOUSE

Office of the Press Secretary

For Immediate Release October 19, 1998

      PRESIDENT CLINTON NAMES ELI J. SEGAL AND JOSE H. VILLARREAL 
            TO BE MEMBERS OF THE BOARD OF DIRECTORS OF THE 
          FEDERAL NATIONAL MORTGAGE ASSOCIATION (FANNIE MAE)

The President today announced his intent to appoint Eli Segal and Jose Villarreal as members of the Fannie Mae Board of Directors.

Mr. Eli J. Segal, of Washington, DC, formerly the CEO of AmeriCorps, is now serving as the President and CEO of The Welfare to Work Partnership. He also serves on the boards of Citizens Financial Group, the Corporation for National Service, the National Alliance to End Homelessness, and the Board of Overseers of the Heller School of Brandeis University. Mr. Segal received his Bachelors degree from Brandeis University, and his J.D. from the University of Michigan.

Mr. Jose H. Villarreal, of San Antonio, Texas, is a partner with the law firm of Akin, Gump, Strauss, Hauer & Feld. He is also a member of the Board of Directors of the U.S. Congressional Hispanic Caucus Institute, the National Council of LaRaza, the United Way of San Antonio, the Close-Up Foundation and Wal-Mart. He received a B.A. degree from Purdue University, and a J.D. from Indiana University.

Fannie Mae is a congressionally chartered, shareholder-owned company and the nation's largest source of funds for home mortgages. It has committed to provide $1 trillion in targeted lending for 10 million homes by the end of the decade. The targeted lending will serve low and moderate-income families, minorities, new immigrants, residents of central cities and other under served areas, and people who have special housing needs.

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