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To: Ahda who wrote (244142)	6/5/2003 3:30:24 PM
From: Ahda	Respond to of 436258

>>This really confuses me more! Fannie Mae reaches out to foreign investors Permanently extends long-term funding desk hours to accommodate time zone differences Tuesday, June 03, 2003 Inman News Features Fannie Mae today announced that the company would permanently extend its long-term funding desk hours to benefit international investors. The funding desk hours, extended on a trial basis earlier this year to 5 a.m. EST, provided international investors the opportunity to execute new issue, long-term debt securities through dealer underwriters on a real-time basis more closely aligned with their own trading hours. "International investors appreciate the convenience of executing our securities during their own hours. We have been delighted with their response, and we will therefore open our long-term funding desk at 5 a.m. permanently," said Fannie Mae Chairman and CEO Franklin Raines. "In addition to transactional convenience, the extended hours provided investors with immediate feedback on valuation levels of different structures and how valuations are affected by changes in pricing variables such as interest rates, shape of the yield curve and volatility." The extended hours aim to position Fannie Mae debt structures as an integral part of the daily international trading picture.