Exhibit 99
FARMER MAC AND CFC NEWS
FOR IMMEDIATE RELEASE CONTACTS
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July 29, 2005 Farmer Mac:
Mary K. Waters
202-872-7700
CFC:
Rhonda Smith
703-709-6895
Farmer Mac and CFC Announce
$500 Million Secured Note Deal
Washington, D.C. -- The Federal Agricultural Mortgage Corporation (Farmer
Mac) (NYSE: AGM and AGM.A) and the National Rural Utilities Cooperative Finance
Corporation (CFC) today jointly announced the sale by CFC and purchase by Farmer
Mac of $500 million of three-year CFC secured notes. The notes are secured by
mortgage indebtedness issued by CFC-member rural electric distribution
cooperatives serving communities across rural America.
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. CFC is a
privately owned, non-governmental organization that provides low-cost capital
and state-of-the-art financial products and services to approximately 1,000
electric cooperatives across the United States.
The transaction provides CFC with a new source of liquidity for its rural
utility cooperative members that serve rural communities and support agriculture
in 47 states. It also advances Farmer Mac's role and commitment as an investor
in rural America. The structure of the transaction is consistent with parameters
established by the Farm Credit Administration, Farmer Mac's federal regulator.
Additional information about Farmer Mac is available on Farmer Mac's
website at www.farmermac.com. Additional information about CFC is available on
CFC's website at www.nrucfc.coop.