Federal Home Loan Bank of San Francisco Announces Board of Directors Appointment

SAN FRANCISCO--(Business Wire)--The Federal Home Loan Bank of San Francisco Board of Directors has
selected James F. Burr to fill an open position on the Board effective
today. Mr. Burr is Executive Vice President and Corporate Treasurer of
Wachovia Mortgage, FSB, North Las Vegas, Nevada. The position has a
term ending December 31, 2008.

In 2007, the Federal Housing Finance Board redesignated this
director position from California to Nevada effective January 1, 2008.
From March 30, 2007, to December 31, 2007, the position was filled by
Mr. Burr, who was then Executive Vice President and Treasurer of World
Savings Bank, FSB, Oakland, California. Effective December 31, 2007,
World changed its name to Wachovia Mortgage, FSB, and moved the
location of its home office from California to Nevada. Because each
elected director of the Bank must be an officer or director of a Bank
member located in the state to which the director position is
designated, Mr. Burr's role at Wachovia did not qualify him for the
California position on the Bank's board and the position became
vacant. As of January 1, 2008, Mr. Burr's role at Wachovia qualified
him for the Nevada position on the Bank's board.

About the Federal Home Loan Bank of San Francisco

The Federal Home Loan Bank of San Francisco delivers low-cost
funding and other services that help member financial institutions
make home mortgages to people of all income levels and provide credit
that supports neighborhoods and communities. The Bank also funds
community investment programs that help members create affordable
housing and promote community economic development. The Bank's
members--its shareholders and customers--are commercial banks, credit
unions, savings institutions, thrift and loans, and insurance
companies headquartered in Arizona, California, and Nevada. The
Federal Home Loan Bank of San Francisco is one of 12 regional banks in
the FHLBank System.

Federal Home Loan Bank of San Francisco
Amy Stewart, 415-616-2605
stewarta@fhlbsf.com

Copyright Business Wire 2008