RESTON, Va., Sept. 20 /PRNewswire-FirstCall/ -- SLM Corporation (NYSE:
SLM), commonly known as Sallie Mae, issued the following statement in
response to an article that appeared in The New York Times:
"Our contract is with Bank of America and JPMorgan Chase, two of
America's largest and strongest banks. We expect these banks to honor their
commitments under that contract, not breach the contract. The company
affirms that the College Cost Reduction Act, which is awaiting the
President's signature, does not and will not constitute a Material Adverse
Effect under the merger agreement."
(Logo: http://www.newscom.com/cgi-bin/prnh/20030617/SLMLOGO-a )
SLM Corporation (NYSE: SLM), commonly known as Sallie Mae, is the
nation's leading provider of saving- and paying-for-college programs. The
company manages $153 billion in education loans and serves nearly 10
million student and parent customers. Through its Upromise affiliates, the
company also manages $18 billion in 529 college-savings plans, and 8
million members have joined Upromise to help save for college with rewards
on purchases at nearly 70,000 places. Sallie Mae and its subsidiaries offer
debt management services as well as business and technical products to a
range of business clients, including higher education institutions, student
loan guarantors and state and federal agencies. More information is
available at http://www.salliemae.com. SLM Corporation and its subsidiaries are
not sponsored by or agencies of the United States of America.
SOURCE Sallie Mae
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Related links:
http://www.salliemae.com
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20030617/SLMLOGO-a
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
http://www.prnewswire.com/comp/827187.html /
CONTACT:
Investor, Steve McGarry, +1-703-984-6746, or
Media, Tom Joyce, +1-703-984-5610, both of Sallie Mae
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