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                     Office of the Press Secretary
                         (Camp David, Maryland)
For Immediate Release                                      July 14, 2000
                     FANNIE MAE BOARD OF DIRECTORS

The President today announced his intent to appoint Maynard H. Jackson to the Fannie Mae Board of Directors.

Mr. Maynard H. Jackson, of Atlanta, Georgia, is Chairman of the Board of Jackson Securities, Inc., a broad-based securities services firm in Atlanta. Earlier, he served as Mayor of Atlanta from 1974 to 1982 and again from 1990 to 1994. Especially noteworthy in his administration were the construction of the new Hartsfield Atlanta International Airport, the City-sponsored vertical integration of housing production and the successful bid to host the 1996 Centennial Olympic Games. He also served as Chairman of the Advisory Board and President-elect of the U.S. Conference of Mayors, Chairman of President Carter's Local Government Energy Policy Advisory Committee and Chairman of the Rebuild America Coalition. Mr. Jackson has served on the Board of Directors of FGIC Public Trust, ICF Kaiser International and the Environmental Financial Advisory Board of the U.S. Department of Energy, the National Council of the Unites Nations Association-USA and the CARE Board of Overseers. He currently serves on the National Board of the NAACP and on the boards of, Bingwa Educational Software and He received a B.A. from Morehouse College and a J.D. from the School of Law at North Carolina Central University.

Fannie Mae is a New York Stock Exchange company and the largest non-bank financial services company in the world. It operates pursuant to a federal charter and is the nation's largest source of financing for home mortgages. Over the past 31 years, Fannie Mae has provided nearly $2.8 trillion of mortgage financing for over 34 million families.