Exhibit 99

                                 FARMER MAC NEWS


FOR IMMEDIATE RELEASE                                       CONTACT
July 13, 2005                                               Jerome Oslick
                                                            202-872-7700


                    Farmer Mac Announces Global Debt Program


     Washington,  D.C. -- The Federal Agricultural  Mortgage Corporation (Farmer
Mac), the  Congressionally  chartered  secondary  market for  agricultural  real
estate and rural  housing  mortgage  loans,  today  announced the formation of a
global  debt  program  to  facilitate  the  funding  of future  business  growth
opportunities.  Farmer Mac may list global notes issued under the program on the
New York Stock Exchange or a foreign  exchange.  Specific  information about the
program will be provided at a later date.

     Farmer Mac is a  stockholder-owned  instrumentality  of the  United  States
chartered  by Congress to  establish a secondary  market for  agricultural  real
estate and rural  housing  mortgage  loans,  and to  facilitate  capital  market
funding for USDA guaranteed  farm program and rural  development  loans.  Farmer
Mac's  Class C and  Class A common  stocks  are  listed  on the New  York  Stock
Exchange under the symbols AGM and AGM.A,  respectively.  Additional information
about Farmer Mac is available on Farmer Mac's website at www.farmermac.com.