FEDERAL CROP INSURANCE CORPORATION
                                           SUMMARY OF BUSINESS REPORT
                                                12/31/1999 - FINAL

                                      (NET ACRES AND DOLLARS IN THOUSANDS)

                           1995        1995                             1996        1996
                           CROP YEAR   CROP YEAR         1995           CROP YEAR   CROP YEAR         1996
                           REINSURED   LOCAL OFFICE      CROP YEAR      REINSURED   LOCAL OFFICE      CROP YEAR
                           BUSINESS    BUSINESS          TOTAL          BUSINESS    BUSINESS          TOTAL
                           ---------   ------------      ---------      ---------   ------------      ---------
  ADDITIONAL BUSINESS

  POLICIES WITH PREM.       865,185              0        865,185        886,565              0        886,565
  UNITS WITH PREM.        1,997,812              0      1,997,812      2,132,365              0      2,132,365
  NET ACRES INSURED         105,387              0        105,387        117,282              0        117,282
  LIABILITY              15,290,896              0     15,290,896     19,305,218              0     19,305,218
  TOTAL PREMIUM           1,087,359              0      1,087,359      1,408,931              0      1,408,931
  SUBSIDY                   433,381              0        433,381        552,284              0        552,284
  INDEMNITY               1,400,113              0      1,400,113      1,342,663              0      1,342,663
  LOSS RATIO                    1.29            .00           1.29            .95            .00            .95

  CATASTROPHIC BUSINESS

  POLICIES WITH PREM.       367,844        806,246      1,174,090        297,872        438,604        736,476
  UNITS WITH PREM.          528,455      1,169,624      1,698,079        434,912        647,497      1,082,409
  NET ACRES INSURED          41,623         73,646        115,269         39,386         48,344         87,730
  LIABILITY               3,124,067      5,313,492      8,437,559      3,587,065      3,986,562      7,573,627
  TOTAL PREMIUM             176,059        279,933        455,992        216,752        213,101        429,853
  SUBSIDY                   176,059        279,933        455,992        216,752        213,101        429,853
  INDEMNITY                  62,411        105,207        167,618         59,709         90,290        149,999
  LOSS RATIO                     .35            .38            .37            .28            .42            .35

  COMBINED BUSINESS

  POLICIES WITH PREM.     1,233,029        806,246      2,039,275      1,184,437        438,604      1,623,041
  UNITS WITH PREM.        2,526,267      1,169,624      3,695,891      2,567,277        647,497      3,214,774
  NET ACRES INSURED         147,010         73,646        220,656        156,668         48,344        205,012
  LIABILITY              18,414,963      5,313,492     23,728,455     22,892,283      3,986,562     26,878,845
  TOTAL PREMIUM           1,263,418        279,933      1,543,351      1,625,683        213,101      1,838,784
  SUBSIDY                   609,440        279,933        889,373        769,036        213,101        982,137
  INDEMNITY               1,462,524        105,207      1,567,731      1,402,372         90,290      1,492,662
  LOSS RATIO                    1.16            .38           1.02            .86            .42            .81


  **  NOTE:  THIS REPORT REFLECTS ONLY THOSE POLICIES WITH ACREAGE/LOSS DATA