THE WHITE HOUSE Office of the Press Secretary ________________________________________________________________________ For Immediate Release April 19, 1994 PRESIDENT CLINTON NAMES MARILYN PETERS AS A MEMBER OF THE BOARD OF DIRECTORS OF THE FEDERAL AGRICULTURAL MORTGAGE CORPORATION The President today announced his intent to nominate Marilyn Peters as a member of the Board of Directors of the Federal Agricultural Mortgage Corporation. The Federal Agricultural Mortgage Corporation ("Farmer Mac") is a chartered corporation of the United States Government. Farmer Mac was established as a secondary market in order to provide all segments of the agricultural credit industry, including the Farm Credit System, commercial banks, insurance companies and other agricultural lenders, with the benefits of capital market funding for agricultural real estate and rural housing loans. In doing so, Farmer Mac provides American farmers, ranchers and rural homeowners with stable access to intermediate and long-term fixed rate real estate loans at competitive rates. Ms. Peters has been involved in farming since 1955. She is a former high school mathematics and english teacher. She has served on the South Dakota Job Training Coordinating Council and the South Dakota Private Industry Council. -30-30-30-