Appointment of Al Cardenas as a Member of the Board of Directors of the Federal National Mortgage Association

The President today announced his intention to appoint Al Cardenas to be a member of the Board of Directors of the Federal National Mortgage Association for a term ending on the date of the annual meeting of the stockholders in 1989. This is a reappointment.

Since 1987 Mr. Cardenas has been senior partner with the law firm of Greenburg, Traurig, Askew, Hoffman, Lipoff, Rosen, and Quentel, P.A. in Miami, FL. Prior to this he was a partner with the law firm of Broad and Cassel.

Mr. Cardenas graduated from Florida Atlantic University (B.A., 1969) and Seton Hall University (J.D., 1974). He was born January 3, 1948, in Havana, Cuba. Mr. Cardenas is married, has four children, and resides in Miami, FL.