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 as 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 1990 (Mortgage Industry Representative).

Currently Mr. Cardenas serves as director of Greenberg, Traurig, Hoffman, Lipoff, Rosen, and Quentel, P.A., in Miami, FL. Prior to this, he served as a partner with the law firm of Broad and Cassel. He has served as a member of the National Mortgage Association, 1985 to present, and a member of the Presidential Advisory Committee on Small and Minority Business Affairs, 1982 - 1985.

Mr. Cardenas graduated from Miami Dade Community College (A.A., 1967), 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 five children, and resides in Miami, FL.