Greetings and welcome to the Federal Agricultural Mortgage Corporation Fourth Quarter and Fiscal Year 2008 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. (Operator instructions). As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Mr. Michael Gerber, President and CEO for Federal Agriculture Mortgage Corporation. Thank you, Mr. Gerber. You may begin.

Thank you, Claudia, and good morning. I'm Mike Gerber, the new President and CEO of Farmer Mac, and the Farmer Mac management team and I are pleased to welcome you to Farmer Mac's fourth quarter and calendar year 2008 investor conference call. Before starting, let me first comment on some forward-looking statements that may be made on this call. In addition to historical information, this conference call may include forward-looking statements that reflect management's current expectations for Farmer Mac's future financial results, business prospects and business developments. Management's expectations for the corporation's future necessarily involve a number of assumptions and estimates and the evaluation of risks and uncertainties. Various factors or events could cause Farmer Mac's actual results to differ materially from expectations expressed and/or implied by the forward looking statements. Some of these factors and events are identified in our press release issued yesterday and discussed in Farmer Mac’s annual report on Form 10-K for 2008. A Form-8K containing the press release and the Form 10-K were filed yesterday with the SEC. Any forward-looking statements made by Farmer Mac during this call represent management’s current expectations. Farmer Mac undertakes no obligation to release publicly the results of revisions to any such forward-looking statements to reflect any future events or circumstances except as otherwise mandated by the SEC. Farmer Mac reports financial result on a GAAP basis and also reports core earnings. The company uses core earnings to measure corporate economic performance and develop financial plans because in management’s view, core earnings more accurately represent Farmer Mac’s economic performance, transaction economics, and business trends before the effects on earnings of changes in the fair values of financial derivatives and trading assets. Farmer Mac’s disclosure of core earnings, a non-GAAP measure, is not intended to replace GAAP information, but rather to…

Thank you. Ladies and gentlemen, we will now be conducting a question and answer session. (Operator instructions). Mr. Gerber, it appears we have no questions coming in from the phones at this time.

Well, if there are no questions, then thank you all for participating on the call. We appreciate your attendance and we look forward to speaking to you again when we discuss our first quarter earnings. Thank you again.

Ladies and gentlemen, this does conclude today's teleconference. You may disconnect your lines at this time, and we thank you for your participation.