<PAGE> 1
Rule 424(b)(3)
Registration No. 333-78931
CUSIP# 63743HCP5
PRICING SUPPLEMENT NO. 2402 DATED July 28, 1999
TO PROSPECTUS SUPPLEMENTAL DATED JUNE 7, 1999
AND BASE PROSPECTUS DATED JUNE 4, 1999
NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION
Medium-Term Notes, Series C
With Maturities of Nine Months or More from Date of Issue
Floating Rate Notes
<TABLE>
<S> <C>
Issuer: National Rural Utilities CFC
Principal Amount: $400,000,000.00
Issue Price: Varying prices relating to prevailing
market prices
Original Issue Date: 08/02/1999
Maturity Date: 08/02/2000
Initial Interest Rate: Determined as described below
Base Rate: LIBOR Telerate
Spread: 0.00%
Index Maturity: 1 month
Interest Payment Dates: On the 2nd of each month, and the
and the Maturity Date, commencing
September 2, 1999
Reset Period: Monthly
Interest Reset Dates: On the 2nd of each month commencing
August 2, 1999
Redeemable Date: None
Agent's Discount or
Commision: 0.050%
Agent(s): J.P. Morgan & Co. ($200,000,000)
Lehman Brothers ($100,000,000)
Merrill Lynch & Co. ($100,000,000)
Capacity: Principal
Form of Note
(Book-Entry or Certificated): Book-Entry
Other Terms: None
</TABLE>
Medium-Term Notes, Series C may be issued by the Company in an
aggregate principal amount of up to $5,050,000,000 and, to date,
including this offering, an aggregate of $329,886,000 Medium-Term
Notes, Series A, $620,114,000, Series B, and $4,086,912,000 Series C
have been issued.
