Each user of this Website agrees as follows:

1. Use of Website. All information, documents, materials and other content posted on this Website (collectively, the “Contents”) are solely for the internal use of Website users. You may not resell, republish, print, download, retransmit or copy (other than for internal use) any of the Contents of this Website without the prior written consent of Farmer Mac. Many of the Contents of this Website have been electronically converted from the media from which originals were produced. Farmer Mac has not tested or verified the accuracy or completeness of the conversion process.

2. Copyrights and Other Intellectual Property. Except where expressly noted, all Contents of this Website, including the graphics, icons and overall appearance of the Website, are the property of Farmer Mac. The posting of the Contents on this Website does not constitute a waiver of any of Farmer Mac’s proprietary rights (including but not limited to, copyrights, trademarks and other intellectual property) or a transfer of any such rights to the Website user or any third party. Contents of this Website are protected by U.S. and international copyright laws, both as individual works and as a collection. You agree not to delete any copyright or similar notice from any Contents you obtain from this Website.

3. No Warranties; Limitation of Liability. THIS WEBSITE (INCLUDING ALL CONTENTS) IS PROVIDED ON AN “AS IS” BASIS. USE OF THIS WEBSITE AND THE CONTENTS IS AT THE USER’S SOLE RISK. Although Farmer Mac attempts to provide accurate information on this Website, Farmer Mac makes no representations or warranties as to the accuracy, adequacy, completeness, or appropriateness for any particular purpose of the Contents of this Website. Farmer Mac expressly disclaims liability for any errors and omissions in the Contents and for any damages whatsoever, whether arising out of or in connection with your use of, reliance upon, or acting or forbearing to act upon, any information on this Website, even if Farmer Mac has been advised of the possibility of such damages. Farmer Mac further disclaims any obligation to keep the Contents up to date or free of errors or viruses, or to maintain uninterrupted access to this Website. This paragraph applies only to the extent permitted by applicable law.

4. Forward-Looking Statements. Some of the Contents of this Website contain “forward-looking statements” pertaining to management’s expectations as to Farmer Mac’s future financial results, business prospects and business developments. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and typically are accompanied by, and identified with, such terms as “anticipates,” “believes,” “expects,” “intends,” “should” and similar phrases. Management’s expectations for Farmer Mac’s future necessarily involve a number of assumptions, estimates and the evaluation of risks and uncertainties. Various factors could cause Farmer Mac’s actual results or events to differ materially from the expectations as expressed or implied by the forward-looking statements. You should refer to Farmer Mac’s most recent Annual Report on Form 10-K and most recent Quarterly Report on Form 10-Q, both of which are available on this Website, for a discussion of factors that may cause actual results to differ materially.

5. No Offer or Solicitation of Securities. This Website includes Contents relating to certain Farmer Mac securities, including offering documentation. Any such Contents are provided for general information purposes only, are current only as of the date of the Contents, and do not constitute an offer to sell or a solicitation of an offer to buy any Farmer Mac security. Farmer Mac does not intend to solicit and is not soliciting any action with respect to any Farmer Mac security through this Website. All Contents regarding or relating to Farmer Mac securities are qualified in their entirety by the relevant prospectus or offering circular and any applicable supplement. Farmer Mac securities may not be eligible for offer or sale in certain jurisdictions or to certain persons. Investors who are considering purchasing a Farmer Mac security should consult their own financial and legal advisors for information about and analysis of the security, the risks associated with the security and the suitability of the investment for the investor’s particular circumstances.

6. Links to Other Websites. Farmer Mac may establish links between this Website and one or more websites operated by, or whose content is provided by, third parties. Farmer Mac has no control over any such other websites, their contents or their operators. Farmer Mac makes no representation concerning, and is not responsible for, the quality, content, nature or reliability of any hyperlinked website. Farmer Mac provides hyperlinks as a convenience to users of this Website. Farmer Mac’s inclusion of any hyperlink on this Website does not imply any endorsement, investigation, verification or monitoring by Farmer Mac of any information in any hyperlinked site. In no event shall Farmer Mac be responsible for your use of a hyperlinked site.

7. Transmissions to and from This Website. Transmissions to and from this Website are not confidential, and your communications may be read or intercepted by others. Any transmission to this Website shall be deemed and remain the property of Farmer Mac. Farmer Mac shall be free to use, for any purpose, any ideas, concepts, know-how, or techniques provided by a Website user to Farmer Mac through this Website, except that such use shall be consistent with Farmer Mac’s Website privacy policy.

8. Modification of Website Terms and Conditions. Farmer Mac reserves the right to modify or discontinue, temporarily or permanently, the Website for any reason, at its sole discretion, with or without notice to you. Farmer Mac likewise may change its Website Terms and Conditions from time to time with or without notice to you. You agree to review the Terms and Conditions periodically to ensure that you are aware of any modifications. Your continued access or use of the Website after the modifications have become effective shall be deemed your conclusive acceptance of the modified Terms and Conditions.

9. Choice of Law. These Terms and Conditions shall be construed in accordance with the laws of the District of Columbia, United States of America, without regard to its conflict of law provisions.

10. Severability. To the extent any portion of these Terms and Conditions is determined to be unenforceable by a court of competent jurisdiction, such portion will be modified by the court solely to the extent necessary to cause such portion to be enforceable, and these Terms and Conditions, as so modified, shall remain in full force and effect.

11. Waiver. No waiver by Farmer Mac of any right under or term or provision of these Terms and Conditions will be deemed a waiver of any other right, term, or provision of these Terms and Conditions at that time or a waiver of that or any other right, term, or provision of these Terms and Conditions at any other time.

12. Access Restrictions. Farmer Mac operates this Website from its offices in the District of Columbia in the United States of America. Farmer Mac makes no representation that the Contents are appropriate or available for distribution, display or use in locations other than the United States of America, and access to Contents from jurisdictions where such activities are illegal is prohibited. Those who access or use Contents from this Website are responsible for complying with the applicable laws of their jurisdictions.

Last Modified: September 2003