SLM Corporation (NYSE: SLM) Announces Dividends

RESTON, Va., Oct. 25 /PRNewswire-FirstCall/ -- SLM Corporation (NYSE: SLM) , commonly known as Sallie Mae, today announced a 2008 first-quarter dividend on its Preferred Stock Series A of $0.87125 per share. The dividend on the Preferred Stock Series A will be paid on Jan. 31, 2008 to shareholders of record at the close of business on Jan. 21, 2008.

In addition, the company announced a 2007 fourth-quarter dividend on its Preferred Stock Series B of $1.6041910 per share. The dividend on the Preferred Stock Series B will be paid on Dec. 17, 2007 to shareholders of record at the close of business on Dec. 7, 2007.

On Sept 30, 2007, SLM Corporation had 414 million shares of voting common stock, 3.3 million shares of Preferred Stock Series A and 4 million shares of Preferred Stock Series B outstanding. All stocks trade on the New York Stock Exchange.

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 $160 billion in education loans and serves nearly 10 million student and parent customers. Through its Upromise affiliates, the company also manages $19 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 www.salliemae.com. SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.

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