|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| EXHIBIT 12 
RURAL ELECTRIC COOPERATIVE GRANTOR TRUST (SOYLAND)      1993-B2
Computation of Ratio of Income to Fixed      Charges 
For the Years Ended December 31, 2003, 2002, 2001, 2000,      and 1999     
2003   
2002   
2001   
2000   
1999                                           
Net income 
$
-  
$
-  
$
-  
$
-  
$
- 
   Add: Fixed charges  
2,637,703   
2,913,879   
3,166,132   
3,396,697   
3,607,513                      
Income available for fixed charges 
$
2,637,703  
$
2,913,879  
$
3,166,132  
$
3,396,697  
$
3,607,513                      
Fixed charges:                    
   Interest on all debt 
$
2,637,703  
$
2,913,879  
$
3,166,132  
$
3,396,697  
$
3,607,513                      
Total fixed charges 
$
2,637,703  
$
2,913,879  
$
3,166,132  
$
3,396,697  
$
3,607,513                      
Ratio of income to fixed charges  
1.00   
1.00   
1.00   
1.00   
1.00  |