Fannie Mae Announces Common and Preferred Stock Dividends

Business Wire, Oct 20, 1998

WASHINGTON--(BUSINESS WIRE)--Oct. 20, 1998--The Board of Directors of Fannie Mae (NYSE:FNM), the nation's largest source of home mortgage funds, Tuesday voted the following dividends on the company's common and preferred stock:

-- a dividend on its outstanding common stock of twenty-four cents

per share ($.24 per share);

-- a dividend on its outstanding preferred stock, Series A, of

$.80125 per share;

-- a dividend on its outstanding preferred stock, Series B, of

$.81250 per share;

-- a dividend on its outstanding preferred stock, Series C, of

$.80625 per share; and

-- a dividend on its outstanding preferred stock, Series D, of

$.65625 per share.

A dividend of twenty-four cents ($.24) per share will be paid to registered holders of common stock as shown on the books of the corporation at the close of business on Oct. 30, 1998, that is outstanding at the close of business on Oct. 30, 1998, to be payable on Nov. 25, 1998.

A dividend of $.80125 per share will be paid to registered holders of preferred stock, Series A, as shown on the books of the corporation at the close of business on Dec. 18, 1998, that is outstanding at the close of business on Dec. 18, 1998, for the period from and including Sept. 30, 1998 to but excluding Dec. 1, 1998, to be payable on Dec. 31, 1998.

A dividend of $.81250 per share will be paid to registered holders of preferred stock, Series B, as shown on the books of the corporation at the close of business on Dec. 18, 1998, that is outstanding at the close of business on Dec. 18, 1998, for the period from and including Sept. 30, 1998 to but excluding Dec. 31, 1998, to be payable on Dec. 31, 1998.

A dividend of $.80625 per share will be paid to registered holders of preferred stock, Series C, as shown on the books of the corporation at the close of business on Dec. 18, 1998, that is outstanding at the close of business on Dec. 18, 1998, for the period from and including Sept. 30, 1998 to but excluding Dec. 31, 1998, to be payable on Dec. 31, 1998.

A dividend of $.65625 per share will be paid to the registered holders of preferred stock, Series D, as shown on the books of the corporation at the close of business on Dec. 18, 1998, that is outstanding at the close of business on Dec. 18, 1998, for the period from and including Sept.30, 1998 to but excluding Dec. 31, 1998, to be payable on Dec. 31, 1998.

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 underserved areas, and people who have special housing needs. Over the past 30 years, Fannie Mae has provided $2.5 trillion in mortgage financing for 32 million families. More information about Fannie Mae can be found on the Internet at http://www.fanniemae.com.

Style Usage: Fannie Mae's Board of Directors has authorized the company to operate as "Fannie Mae," and the company's stock is now listed on the NYSE as "Fannie Mae." In order to facilitate clarity and avoid confusion, news organizations are asked to refer to the company exclusively as "Fannie Mae."