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ICBA Welcomes New Fannie CEO Mudd
Strong Leadership Has Paved the Way for Fannie's Recovery

Washington, D.C. (June 1, 2005) - Camden R. Fine, the president and CEO of the Independent Community Bankers of America (ICBA), issued the following statement today on Fannie Mae's selection of Daniel H. Mudd as its new president and chief executive officer:

ICBA is pleased that Dan Mudd has been named the new president and chief executive officer of Fannie Mae. Dan's strong leadership has been instrumental in setting Fannie Mae on the path to recovery during the months he has served as interim president and CEO. Fannie Mae has been an important partner for community banks in helping them meet the homeownership needs of their customers. ICBA looks forward to continuing to work with Dan and Fannie Mae in the years ahead.

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