SLM Corporation Issues Statement On Indiana Tax Amnesty Contract Award

    RESTON, Va., Sept. 2 /PRNewswire-FirstCall/ -- SLM Corporation, commonly
 known as Sallie Mae, today issued the following statement:
     (Logo: )
     General Revenue Corporation (GRC), a wholly owned subsidiary, has been
 awarded a performance-based contract from the Indiana Department of Revenue
 (DOR).  Under the terms of the contract, GRC will assist with collection and
 outreach efforts during the upcoming Indiana Tax Amnesty program, which will
 run from Sept. 15 to Nov. 15, 2005.  The contract is not expected to have a
 material impact on the company's earnings per share.
     SLM Corporation (NYSE:   SLM), commonly known as Sallie Mae, is the nation's
 No. 1 paying-for-college company, managing more than $116 billion in student
 loans for 8 million borrowers. Sallie Mae was originally created in 1972 as a
 government-sponsored entity (GSE) and terminated its corporate ties to the
 federal government in 2004. The company remains the country's largest
 originator of federally insured student loans. Through its specialized
 subsidiaries and divisions, Sallie Mae also provides debt management services
 as well as business and technical products to a range of business clients,
 including colleges, universities and loan guarantors. More information is
 available at SLM Corporation and its subsidiaries
 are not sponsored by or agencies of the United States of America.

SOURCE Sallie Mae

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