National Association of Development Companies

DCFC Debenture Rates

DCFC Debenture Rates Prior to February 2000

January, 2000

The January, 2000 sale included both 10-year and 20-year debentures.

10 YEAR DEBENTURES

10-Jan 10-Jan 10-Jan 10-Jan
(fee .775) (fee .775) (fee .729) (fee .729)

CDC Fee 0.625% 1.000% 0.625% 1.000%

Debenture Rate: 7.26% 7.26% 7.26% 7.26%
Note Rate: 7.49360% 7.49360% 7.49360% 7.49360%
Effective:
1st/5yr: 9.36% 9.82% 9.30% 9.77%
2nd/5yr: 10.27% 10.97% 10.19% 10.88%
Effective for
Term of Loan: 9.62% 10.15% 9.55% 10.08%

Spread Over Treasury:
Comparable Treasury Market Rate:

20 YEAR DEBENTURES

20-Jan 20-Jan 20-Jan 20-Jan 20-Jan 20-Jan 20-Jan 20-Jan 20-Jan
(fee .125) (fee .875) (fee .875) (fee .775) (fee .775) (fee .729) (fee .729) (fee .600) (fee .600)

CDC Fee 1.000% 0.625% 1.000% 0.625% 1.000% 0.625% 1.000% 0.625% 1.000%

Debenture Rate: 7.59% 7.59% 7.59% 7.59% 7.59% 7.59% 7.59% 7.59% 7.59%
Note Rate: 7.67987% 7.67987% 7.67987% 7.67987% 7.67987% 7.67987% 7.67987% 7.67987% 7.67987%
Effective:
1st/5yr: 8.99% 9.40% 9.80% 9.29% 9.69% 9.24% 9.64% 9.10% 9.50%
2nd/5yr: 9.04% 9.46% 9.87% 9.35% 9.76% 9.29% 9.71% 9.15% 9.57%
3rd/5yr: 9.19% 9.65% 10.11% 9.52% 9.98% 9.47% 9.93% 9.31% 9.77%
4th/5yr: 9.95% 10.64% 11.34% 10.46% 11.15% 10.37% 11.07% 10.13% 10.83%
Effective for
Term of Loan: 9.13% 9.58% 10.03% 9.46% 9.91% 9.41% 9.85% 9.25% 9.70%

Spread Over Treasury (bp): 102
Comparable Treasury Market Rate:

Note: The series for zero subsidy has been discontinued.
The above effective rates are calculated using the new methodology outlined in a 3/26/99 DCFC memo.
This is available by fax from the DCFC office by calling 703-748-2580.

December, 1999 Debenture funding rates

This sale included only 20 year debentures.

20-Dec 20-Dec 20-Dec 20-Dec 20-Dec 20-Dec 20-Dec 20-Dec
(fee .125) (fee .875) (fee .875) (fee .775) (fee .775) (fee .729) (fee .729) (fee .600)

CDC Fee 0.500% 0.625% 1.000% 0.625% 1.000% 0.625% 1.000% 0.625%

Debenture Rate: 7.19% 7.19% 7.19% 7.19% 7.19% 7.19% 7.19% 7.19%
Note Rate: 7.27822% 7.27822% 7.27822% 7.27822% 7.27822% 7.27822% 7.27822% 7.27822%
Effective:
1st/5yr: 8.06% 9.00% 9.41% 8.89% 9.30% 8.85% 9.25% 8.71%
2nd/5yr: 8.09% 9.06% 9.48% 8.95% 9.37% 8.90% 9.32% 8.75%
3rd/5yr: 8.17% 9.25% 9.71% 9.13% 9.59% 9.07% 9.53% 8.91%
4th/5yr: 8.62% 10.25% 10.95% 10.06% 10.76% 9.98% 10.67% 9.74%
Effective for
Term of Loan: 8.14% 9.18% 9.63% 9.07% 9.51% 9.01% 9.46% 8.86%

Spread Over Treasury: 1.08%
Comparable Treasury Market Rate: 6.11%

Note: The series for zero subsidy has been discontinued.
The above effective rates are calculated using the new methodology explained in the March 26, 1999 letter
from Mark Barbash, then DCFC President. A copy of this letter is available by fax from the DCFC office.

November 1999 Funding Rates:

The November 1999 sale included both 10 year and 20 year 504 debentures.

10 YEAR DEBENTURES

10-Nov 10-Nov 10-Nov 10-Nov
(fee .875) (fee .775) (fee .729) (fee .729)

CDC Fee 1.000% 0.625% 0.625% 1.000%

Debenture Rate: 6.80% 6.80% 6.80% 6.80%
Note Rate: 7.02380% 7.02380% 7.02380% 7.02380%
Effective:
1st/5yr: 9.50% 8.90% 8.85% 9.32%
2nd/5yr: 10.70% 9.81% 9.73% 10.43%
Effective for
Term of Loan: 9.84% 9.16% 9.10% 9.63%

Spread Over Treasury: 0.92%
Comparable Treasury Market Rate: 5.88%

20 YEAR DEBENTURES

20-Nov 20-Nov 20-Nov 20-Nov 20-Nov 20-Nov 20-Nov 20-Nov
(fee .125) (fee .125) (fee .875) (fee .875) (fee .775) (fee .775) (fee .729) (fee .729)

CDC Fee 0.500% 1.000% 0.625% 1.000% 0.625% 1.000% 0.625% 1.000%

Debenture Rate: 7.06% 7.06% 7.06% 7.06% 7.06% 7.06% 7.06% 7.06%
Note Rate: 7.14774% 7.14774% 7.14774% 7.14774% 7.14774% 7.14774% 7.14774% 7.14774%
Effective:
1st/5yr: 7.93% 8.47% 8.88% 9.28% 8.77% 9.17% 8.72% 9.12%
2nd/5yr: 7.96% 8.51% 8.93% 9.35% 8.82% 9.24% 8.77% 9.19%
3rd/5yr: 8.04% 8.66% 9.12% 9.59% 9.00% 9.46% 8.94% 9.41%
4th/5yr: 8.49% 9.42% 10.12% 10.82% 9.93% 10.63% 9.85% 10.55%
Effective for
Term of Loan: 8.01% 8.61% 9.06% 9.50% 8.94% 9.38% 8.88% 9.33%

Spread Over Treasury: 1.11%
Comparable Treasury Market Rate: 5.95%

Note: The series for zero subsidy has been discontinued.
The above effective rates are calculated using the new methodology outlined in a 3/26/99 DCFC memo.
This is available by fax from the DCFC office by calling 703-748-2580.

RE: SBA 504 October 1999 Funding Rate
Only 20-year Debentures were sold.

20 YEAR DEBENTURES

20-Oct 20-Oct 20-Oct 20-Oct 20-Oct 20-Oct 20-Oct 20-Oct
(fee .125) (fee .125) (fee .875) (fee .875) (fee .775) (fee .775) (fee .729) (fee .729)

CDC Fee 0.500% 1.000% 0.625% 1.000% 0.625% 1.000% 0.625% 1.000%

Debenture Rate: 7.20% 7.20% 7.20% 7.20% 7.20% 7.20% 7.20% 7.20%
Note Rate: 7.28808% 7.28808% 7.28808% 7.28808% 7.28808% 7.28808% 7.28808% 7.28808%
Effective:
1st/5yr: 8.07% 8.61% 9.01% 9.41% 8.90% 9.31% 8.85% 9.26%
2nd/5yr: 8.10% 8.65% 9.07% 9.49% 8.96% 9.38% 8.91% 9.33%
3rd/5yr: 8.18% 8.80% 9.26% 9.72% 9.14% 9.60% 9.08% 9.54%
4th/5yr: 8.63% 9.56% 10.26% 10.96% 10.07% 10.77% 9.99% 10.68%
Effective for
Term of Loan: 8.15% 8.75% 9.19% 9.64% 9.07% 9.52% 9.02% 9.47%

Note: The series for zero subsidy has been discontinued.
The above effective rates are calculated using the new methodology outlined in a 3/26/99 DCFC memo.
This is available by fax from the DCFC office (call 703-748-2580).

RE: September 1999 Funding Rates - 10 Yr & 20 Yr

10 YEAR DEBENTURES 20 YEAR DEBENTURES

10-Sep 10-Sep 10-Sep 20-Sep 20-Sep 20-Sep 20-Sep 20-Sep 20-Sep 20-Sep
(fee .875) (fee .775) (fee .729) (fee .125) (fee .875) (fee .875) (fee .775) (fee .775) (fee .729) (fee .729)

CDC Fee 0.625% 0.625% 0.625% 0.500% 0.625% 1.000% 0.625% 1.000% 0.625% 1.000%

Debenture Rate: 6.95% 6.95% 6.95% 7.30% 7.30% 7.30% 7.30% 7.30% 7.30% 7.30%
Note Rate: 7.17699% 7.17699% 7.17699% 7.38880% 7.38880% 7.38880% 7.38880% 7.38880% 7.38880% 7.38880%
Effective:
1st/5yr: 9.18% 9.05% 8.99% 8.17% 9.11% 9.52% 9.00% 9.41% 8.95% 9.36%
2nd/5yr: 10.15% 9.96% 9.88% 8.20% 9.17% 9.59% 9.06% 9.48% 9.01% 9.42%
3rd/5yr: 8.28% 9.36% 9.82% 9.24% 9.70% 9.18% 9.64%
4th/5yr: 8.73% 10.36% 11.05% 10.17% 10.87% 10.09% 10.78%
Effective for
Term of Loan: 9.45% 9.31% 9.25% 8.25% 9.29% 9.74% 9.17% 9.62% 9.12% 9.57%

Note: The series for zero subsidy has been discontinued.
The above effective rates are calculated using the new methodology outlined in a 3/26/99 DCFC memo.
This is available by fax from the DCFC office by calling 703-748-2580.

RE: August 1999 Funding Rate

20 YEAR DEBENTURE SALE ONLY

20-Aug 20-Aug 20-Aug 20-Aug 20-Aug 20-Aug 20-Aug
(fee .125) (fee .875) (fee .875) (fee .775) (fee .775) (fee .729) (fee .729)

CDC Fee 0.500% 0.625% 1.000% 0.625% 1.000% 0.625% 1.000%

Debenture Rate: 7.30% 7.30% 7.30% 7.30% 7.30% 7.30% 7.30%
Note Rate: 7.38838% 7.38838% 7.38838% 7.38838% 7.38838% 7.38838% 7.38838%
Effective:
1st/5yr: 8.17% 9.11% 9.51% 9.00% 9.40% 8.95% 9.35%
2nd/5yr: 8.20% 9.17% 9.59% 9.06% 9.48% 9.01% 9.42%
3rd/5yr: 8.28% 9.36% 9.82% 9.24% 9.70% 9.18% 9.64%
4th/5yr: 8.73% 10.36% 11.05% 10.17% 10.87% 10.09% 10.78%
Effective for
Term of Loan: 8.25% 9.29% 9.74% 9.17% 9.62% 9.12% 9.56%

Note: The series for zero subsidy has been discontinued.
The above effective rates are calculated using the new methodology outlined in a 3/26/99 DCFC memo.
This is available by fax from the DCFC office.

RE: July 1999 Funding Rates - 10 Yr & 20 Yr

10 YEAR DEBENTURES 20 YEAR DEBENTURES

10-July 10-July 10-July 10-July 10-July 20-July 20-July 20-July 20-July 20-July 20-July 20-July
(fee .875) (fee .775) (fee .775) (fee .729) (fee .729) (fee .125) (fee .875) (fee .875) (fee .775) (fee .775) (fee .729) (fee .729)

CDC Fee 0.625% 0.625% 1.000% 0.625% 1.000% 0.500% 0.625% 1.000% 0.625% 1.000% 0.625% 1.000%

Debenture Rate: 6.60% 6.60% 6.60% 6.60% 6.60% 7.00% 7.00% 7.00% 7.00% 7.00% 7.00% 7.00%
Note Rate: 6.81800% 6.81800% 6.81800% 6.81800% 6.81800% 7.08712% 7.08712% 7.08712% 7.08712% 7.08712% 7.08712% 7.08712%
Effective:
1st/5yr: 8.82% 8.70% 9.17% 8.64% 9.11% 7.87% 8.81% 9.22% 8.70% 9.11% 8.65% 9.06%
2nd/5yr: 9.80% 9.61% 10.31% 9.53% 10.23% 7.90% 8.87% 9.29% 8.76% 9.18% 8.71% 9.13%
3rd/5yr: 7.98% 9.06% 9.53% 8.94% 9.40% 8.88% 9.35%
4th/5yr: 8.44% 10.06% 10.76% 9.88% 10.57% 9.79% 10.49%
Effective for
Term of Loan: 9.10% 8.96% 9.49% 8.89% 9.42% 7.95% 8.99% 9.44% 8.88% 9.32% 8.82% 9.27%

Notes: The series for zero subsidy has been discontinued.
No effective rates at the 1% CDC fee are provided for a particular borrower fee if no debentures were sold at that rate.
The above effective rates are calculated using the new methodology outlined in a 3/26/99 DCFC memo from Mark Barbash.
This is available by fax from the DCFC office by calling 703-748-2580.

	June 1999 Debenture Funding Rates - 20 year sale only														
															
		We regret the delay in distributing the June interest rates.  The rates shown for June are calculated by the existing methodology.  													
		We had hoped to provide rates on the basis of the alternative methodology outlined in the March 26, 1999 memorandum from NADCO's													
		president to all CDCs, but they are unavailable from Colson Services Corp. The amortization schedules which the borrower will													
		receive are also calculated by the existing methodology.													
															
															
															
			20-Jun		20-Jun		20-Jun		20-Jun		20-Jun		20-Jun		20-Jun
			(fee .125)	(fee .875)	(fee .775)	(fee .729)	(fee .875)	(fee .775)	(fee .729)
															
	CDC Fee		0.500%		0.625%		0.625%		0.625%		0.100%		0.100%		0.100%
															
	Debenture Rate:	6.80%		6.80%		6.80%		6.80%		6.80%		6.80%		6.80%
	Note Rate:	6.86%		6.86%		6.86%		6.86%		6.86%		6.86%		6.86%
	Effective:														
	1st/5yr:	7.84%		9.00%		8.87%		8.81%		9.48%		9.35%		9.29%
	2nd/5yr:	7.70%		8.70%		8.59%		8.54%		9.12%		9.01%		8.96%
	3rd/5yr:	7.51%		8.29%		8.20%		8.16%		8.61%		8.53%		8.49%
	4th/5yr:	7.23%		7.69%		7.64%		7.62%		7.89%		7.83%		7.81%
	Effective for														
	Term of Loan:	7.57%		8.42%		8.33%		8.28%		8.78%		8.69%		8.64%
															
		Note: The series for zero subsidy has been discontinued.  The numbers are available upon request.

RE: May 1999 Funding Rates - 10 Yr & 20 Yr

10 YEAR DEBENTURES 20 YEAR DEBENTURES

10-May 10-May 10-May 10-May 20-May 20-May 20-May 20-May
(fee .125) (fee .875) (fee .775) (fee .729) (fee .125) (fee .875) (fee .775) (fee .729)

CDC Fee 0.500% 0.625% 0.625% 0.625% 0.500% 0.625% 0.625% 0.625%

Debenture Rate: 5.95% 5.95% 5.95% 5.95% 6.30% 6.30% 6.30% 6.30%
Note Rate: 6.02% 6.02% 6.02% 6.02% 6.36% 6.36% 6.36% 6.36%
Effective:
1st/5yr: 8.67% 8.52% 8.44% 7.37% 8.54% 8.41% 8.35%
2nd/5yr: 7.59% 7.50% 7.45% 7.22% 8.23% 8.12% 8.06%
3rd/5yr: 7.02% 7.80% 7.71% 7.67%
4th/5yr: 6.74% 7.19% 7.14% 7.12%
Effective for
Term of Loan: 8.13% 8.01% 7.95% 7.09% 7.95% 7.85% 7.80%

Note: The series for zero subsidy has been discontinued.

RE: April 1999 Funding Rates - 20 year sale only this month

20-Apr 20-Apr 20-Apr 20-Apr
(fee .125) (fee .875) (fee .775) (fee .729)

CDC Fee 0.500% 0.625% 0.625% 0.625%

Debenture Rate: 6.15% 6.15% 6.15% 6.15%
Note Rate: 6.21% 6.21% 6.21% 6.21%
Effective:
1st/5yr:7.22% 8.40% 8.27% 8.21%
2nd/5yr:7.07% 8.08% 7.97% 7.91%
3rd/5yr:6.87% 7.64% 7.56% 7.51%
4th/5yr:6.58% 7.04% 6.99% 6.96%
Effective for
Term of Loan: 6.94% 7.79% 7.70% 7.65%

Note: The series for zero subsidy has been discontinued. The numbers are available upon request.
The above information is available to NADCO Member CDCs @ www.NADCO.org.

RE: March 1999 Funding Rates - 10 Yr & 20 Yr

10 YEAR DEBENTURES 20 YEAR DEBENTURES

10-Mar 10-Mar 10-Mar 10-Mar 20-Mar 20-Mar 20-Mar 20-Mar
(fee .125) (fee .875) (fee .775) (fee .729) (fee .125) (fee .875) (fee .775) (fee .729)

CDC Fee 0.500% 0.625% 0.625% 0.625% 0.500% 0.625% 0.625% 0.625%

Debenture Rate: 6.00% 6.00% 6.00% 6.00% 6.30% 6.30% 6.30% 6.30%
Note Rate: 6.07% 6.07% 6.07% 6.07% 6.36% 6.36% 6.36% 6.36%
Effective:
1st/5yr:7.32% 8.70% 8.55% 8.48% 7.36% 8.53% 8.40% 8.34%
2nd/5yr:6.82% 7.62% 7.53% 7.49% 7.21% 8.22% 8.10% 8.05%
3rd/5yr: 7.01% 7.79% 7.70% 7.66%
4th/5yr: 6.73% 7.18% 7.13% 7.11%
Effective for
Term of Loan: 7.07% 8.16% 8.04% 7.98% 7.08% 7.93% 7.84% 7.79%

Note: The series for zero subsidy has been discontinued.
The numbers are available upon request.

February 1999 Funding Rates - 20 year debenture sale

20-Feb 20-Feb 20-Feb 20-Feb 20-Feb
(fee .125) (fee .875) (fee .775) (fee .729) (fee .729)

CDC Fee 0.500% 0.625% 0.625% 0.625% 1.000%

Debenture Rate: 5.95% 5.95% 5.95% 5.95% 5.95%
Note Rate: 6.01% 6.01% 6.01% 6.01% 6.01%
Effective:
1st/5yr:7.02% 8.21% 8.08% 8.02% 8.51%
2nd/5yr:6.87% 7.88% 7.77% 7.71% 8.14%
3rd/5yr:6.66% 7.44% 7.35% 7.31% 7.64%
4th/5yr:6.38% 6.83% 6.78% 6.75% 6.94%
Effective for
Term of Loan: 6.73% 7.59% 7.50% 7.45% 7.81%

Note: The series for zero subsidy has been discontinued. The numbers are available upon request.

RE: January 1999 Funding Rates -

10 Year debentures 20 Year debentures

10-Jan 10-Jan 10-Jan 20-Jan 20-Jan 20-Jan 20-Jan
(fee .125) (fee .775) (fee .729) (fee .125) (fee .875) (fee .775) (fee .729)

CDC Fee 0.500% 0.625% 0.625% 0.500% 0.625% 0.625% 0.625%

Debenture Rate: 5.45% 5.45% 5.45% 5.85% 5.85% 5.85% 5.85%
Note Rate: 5.50% 5.50% 5.50% 5.91% 5.91% 5.91% 5.91%
Effective:
1st/5yr:6.79% 8.03% 7.96% 6.93% 8.13% 7.99% 7.93%
2nd/5yr:6.27% 6.99% 6.94% 6.78% 7.79% 7.68% 7.63%
3rd/5yr: 6.57% 7.35% 7.26% 7.22%
4th/5yr: 6.28% 6.73% 6.68% 6.66%
Effective for
Term of Loan: 6.54% 7.51% 7.46% 6.64% 7.50% 7.41% 7.36%

Note: The series for zero subsidy has been discontinued.
The numbers are available upon request.

December 1998 Funding Rates - 20 year debenture sale

20-Dec 20-Dec 20-Dec 20-Dec
(fee .125) (fee .875) (fee .775) (fee .729)

CDC Fee 0.500% 0.625% 0.625% 0.625%

Debenture Rate: 5.80% 5.80% 5.80% 5.80%
Note Rate: 5.855% 5.855% 5.855% 5.855%
Effective:
1st/5yr: 6.88% 8.07% 7.94% 7.88%
2nd/5yr: 6.72% 7.74% 7.62% 7.57%
3rd/5yr: 6.51% 7.29% 7.20% 7.16%
4th/5yr: 6.23% 6.68% 6.63% 6.60%
Effective for
Term of Loan: 6.59% 7.45% 7.35% 7.31%

Note: The series for zero subsidy has been discontinued.

The numbers are available upon request.

RE: November Funding Rates - 10 & 20 year sales

10-Nov 10-Nov 10-Nov 20-Nov 20-Nov 20-Nov
(fee .125) (fee .875) (fee .775) (fee .125) (fee .875) (fee .775)

CDC Fee 1.000% 0.625% 0.625% 0.500% 0.625% 0.625%

Debenture Rate: 5.15% 5.15% 5.15% 5.88% 5.88% 5.88%
Note Rate: 5.19% 5.19% 5.19% 5.93% 5.93% 5.93%
Effective:
1st/5yr:7.31% 7.91% 7.75% 6.96% 8.15% 8.02%
2nd/5yr:6.43% 6.78% 6.68% 6.80% 7.82% 7.71%
3rd/5yr: 6.60% 7.37% 7.29%
4th/5yr: 6.31% 6.76% 6.71%
Effective for
Term of Loan: 6.87% 7.35% 7.22% 6.67% 7.53% 7.43%

Note: The series for zero subsidy has been discontinued. The numbers are available upon request.

*A subsidy fee of 1/8% applies to loans approved between 10/1/95 and 9/30/96.
A subsidy fee of 7/8% applies to loans approved between 10/1/96 and 9/30/97.
A subsidy fee of .775% applies to loans approved between 10/1/97 and 9/30/98.

October 1998 Interest Rates	20 year deb only				
					
Series 1998 - 20J					
Debenture rate		5.50%			
Note rate		5.55%
			
Effective Rates with Specified Fees for Loans in this Funding					
					
CDC fee		        0.500%	0.500%	0.625%	0.625%
Subsidy fee*	        0.000%	0.125%	0.875%	0.775%
CSA fee		        0.100%	0.100%	0.100%	0.100%
					
Full term of Loan	6.67%	6.29%	7.16%	7.06%
					
1st - 5th Year		7.12%	6.60%	7.80%	7.67%
6th - 10th Year		6.88%	6.43%	7.45%	7.34%
11th - 15th Year	6.55%	6.22%	7.00%	6.91%
16th - 20th Year	6.12%	5.93%	6.38%	6.33%
					
*A subsidy fee of 1/8% applies to loans approved between 10/1/95 and 9/30/96.					
 A subsidy fee of 7/8% applies to loans approved between 10/1/96 and 9/30/97.					
 A subsidy fee of .775% applies to loans approved between 10/1/97 and 9/30/98.

RE:	September Funding Rates - 10 year & 20 year debentures	

		10-Sept 	10-Sept 	10-Sept 	20-Sept 	20-Sept 	20-Sept 			
		(fee .125)	(fee .875)	(fee .775)	(fee .125)	(fee .875)	(fee .775)			
															
CDC Fee		1.000%		0.625%		0.625%		0.500%		0.625%		0.625%			
															
Debenture Rate:	5.60%		5.60%		5.60%		6.00%		6.00%		6.00%			
Note Rate:	5.66%		5.66%		5.66%		6.06%		6.06%		6.06%			
Effective:															
	1st/5yr:6.93%		8.32%		8.17%		7.07%		8.28%		8.13%			
	2nd/5yr:6.42%		7.22%		7.13%		6.92%		7.93%		7.82%			
	3rd/5yr:						6.71%		7.49%		7.40%			
	4th/5yr:						6.43%		6.88%		6.83%			
Effective for															
Term of Loan:	6.67%		7.77%		7.65%		6.78%		7.64%		7.55%			
	Note: The series for zero subsidy has been discontinued.  The numbers are available upon request.

RE:	August Funding Rates - 20 year debenture only											
												
		       20-Aug		20-Aug		20-Aug						
		     (fee .125)	     (fee .875)	      (fee .775)						
												
CDC Fee		        0.500%		0.625%		0.625%						
												
Debenture Rate:		6.15%		6.15%		6.15%						
Note Rate:		6.21%		6.21%		6.21%						
Effective:												
	1st/5yr:	7.23%		8.40%		8.27%						
	2nd/5yr:	7.07%		8.08%		7.97%						
	3rd/5yr:	6.87%		7.65%		7.56%						
	4th/5yr:	6.59%		7.04%		6.99%						
Effective for												
Term of Loan:		6.94%		7.80%		7.70%						
												
	Note: The series for zero subsidy has been discontinued.  The numbers are available upon request.

July 1998 Interest Rates

Series 1998 - 10D Series 1998 - 20G
Debenture rate 5.85% 6.10%
Note rate 5.92% 6.16%

Effective Rates with Specified Fees for Loans in this Funding

CDC fee 0.500% 0.625% 0.625% 0.500% 0.500% 0.625% 0.625%
Subsidy fee* 0.125% 0.875% 0.775% 0.000% 0.125% 0.875% 0.775%
CSA fee 0.100% 0.100% 0.100% 0.100% 0.100% 0.100% 0.100%

Full term of Loan6.93% 8.02% 7.90% 6.76% 6.89% 7.74% 7.65%

1st - 5th Year 7.18% 8.57% 8.41% 7.00% 7.17% 8.35% 8.22%
6th - 10th Year 6.67% 7.47% 7.38% 6.87% 7.02% 8.03% 7.92%
11th - 15th Year 6.70% 6.81% 7.59% 7.50%
16th - 20th Year 6.47% 6.53% 6.98% 6.93%

*A subsidy fee of 1/8% applies to loans approved between 10/1/95 and 9/30/96.
A subsidy fee of 7/8% applies to loans approved between 10/1/96 and 9/30/97.
A subsidy fee of .775% applies to loans approved between 10/1/97 and 9/30/98.

June 1998 Interest Rates

20-Jun 20-Jun 20-Jun
(fee .125) (fee .875) (fee .775)

CDC Fee 0.500% 0.625% 0.625%

Debenture Rate: 6.30% 6.30% 6.30%
Note Rate: 6.360% 6.360% 6.360%
Effective:
1st/5yr: 7.36% 8.53% 8.40%
2nd/5yr: 7.21% 8.22% 8.10%
3rd/5yr: 7.01% 7.79% 7.70%
4th/5yr: 6.73% 7.18% 7.13%
Effective for
Term of Loan: 7.08% 7.93% 7.84%
Note: The series for zero subsidy has been discontinued.
The numbers are available upon request.

May 1998 Interest Rates		Series 1998 - 10C				Series 1998 - 20E
Debenture rate		6.00%				6.30%
Note rate		6.070%				6.359%
Effective Loan Rates with Specified Fees
CDC fee	0.500%	0.500%	0.625%	0.625%	0.500%	0.500%	0.625%	0.625%
Subsidy fee*	0.000%	0.125%	0.875%	0.775%	0.000%	0.125%	0.875%	0.775%
CSA fee	0.100%	0.100%	0.100%	0.100%	0.100%	0.100%	0.100%	0.100%

Full term of Loan	6.93%	7.09%	8.18%	8.05%	6.96%	7.09%	7.94%	7.85%

1st - 5th Year	7.14%	7.34%	8.72%	8.56%	7.20%	7.37%	8.54%	8.41%
6th - 10th Year	6.72%	6.83%	7.63%	7.54%	7.07%	7.22%	8.23%	8.11%
11th - 15th Year					6.90%	7.02%	7.79%	7.71%
16th - 20th Year					6.67%	6.74%	7.19%	7.14%


A subsidy fee of 1/8% applies to loans approved between 10/1/95 and 9/30/96. A subsidy fee of 7/8% applies to loans approved between 10/1/96 and 9/30/97. A subsidy fee of .775% applies to loans approved between 10/1/97 and 9/30/98.

March 1998 Interest Rates		Series 1998 - 10B				Series 1998 - 20C
Debenture rate		6.05%				6.35%
Note rate		6.12%				6.41%
Effective Loan Rates with Specified Fees
CDC fee	0.500%	0.500%	0.625%	0.625%	0.500%	0.500%	0.625%	0.625%
Subsidy fee*	0.000%	0.125%	0.875%	0.775%	0.000%	0.125%	0.875%	0.775%
CSA fee	0.100%	0.100%	0.100%	0.100%	0.100%	0.100%	0.100%	0.100%

Full term of Loan	6.98%	7.14%	8.23%	8.11%	7.02%	7.14%	8.00%	7.90%

1st - 5th Year	7.19%	7.39%	8.77%	8.62%	7.25%	7.42%	8.59%	8.46%
6th - 10th Year	6.77%	6.89%	7.69%	7.60%	7.13%	7.27%	8.28%	8.17%
11th - 15th Year					6.96%	7.07%	7.85%	7.76%
16th - 20th Year					6.73%	6.79%	7.25%	7.20%

A subsidy fee of .775% applies to loans approved between 10/1/97 and 9/30/98.

If you have any questions on these rates, please contact DCFC at (703) 748-2580.

Please e-mail DCFC with comments or problems.