08/30/2004 Amherst Securities Group Underwrites New Issue Deal for FNMA

Amherst Securities Group Underwrites New Issue Deal for FNMA

9-year; non-call 3-month; Fixed Rate
Pricing Date	August 30, 2004
Settlement Date	September 27, 2004
Structure	9-year; non-call 3-month
First Call Date	December 27, 2004 and quarterly thereafter
Maturity	September 27, 2013
Payment Dates	Each March 27th and September 27th beginning March 2005
First Coupon	5.05%
Coupon Structure	5.05% fixed
Size	$25 million
Issuer	Federal National Mortgage Association
CUSIP	3136F6CL1
Currency	USD