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Treasury Authorizes HUD Call of FHA Insurance Fund Debentures


September 28, 2001

CONTACT: Peter Hollenbach 202-691-3502

The Departments of Treasury and Housing and Urban Development announced today the call of all Federal Housing Administration (FHA) insurance fund debentures with an interest rate of 6.375 percent or above outstanding as of September 30, 2001. Debentures issued with a debenture lock agreement are not subject to the call. Debentures that have been registered on the books of the Federal Reserve Bank of Philadelphia as of September 30, 2001 are considered "outstanding." The date of call for the redemption of approximately $100 million in debentures is January 1, 2002, with the semi-annual interest due January 1, 2002 paid along with the debenture principal.

Debenture owners of record as of September 30, 2001, will be notified by mail of the call. No transfers in debentures covered by the call will be made on the books of the U.S. Treasury on or after October 1, 2001. Prior to October 29, 2001, investors should contact the Federal Reserve Bank of Philadelphia (215) 574-6154 for more information. On October 29, 2001, Treasury will transfer the administration of this program to the Bureau of the Public Debt. Beginning October 29, 2001, please direct all inquiries to the Bureau's Division of Special Investments (304) 480-5299.