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Treasury Authorizes HUD Call of FHA Insurance Fund Debentures


March 27, 2002

The Departments of Treasury and Housing and Urban Development announced the call of all Federal Housing Administration (FHA) insurance fund debentures with an interest rate of 7.125 or higher outstanding as of March 29, 2002. Debentures issued with a debenture lock agreement are not subject to the call. Debentures that have been registered on the books of Bureau of the Public Debt, Department of the Treasury as of March 29, 2002 are considered "outstanding". The date of call for the redemption of approximately $59 million in debentures is July 1, 2002, with the semi-annual interest due on that date paid along with the debenture principal. Notice of the call was published in the Federal Register (67 FR 13790) on March 26, 2002.

Debenture owners of record as of March 29, 2002, 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 May 15, 2002. Should investors have questions they can contact the Bureau of the Public Debt's Division of Special Investments at (304) 480-5299.