Idaho HFA Announces Extension of Early Tender Deadline and Expiration Time in its...

Idaho HFA Announces Extension of Early Tender Deadline and Expiration Time in
its Invitation to Purchase for Cash Certain of its Outstanding Debt Securities

NEW YORK, June 1 /PRNewswire/ -- Idaho Housing and Finance Association
("IHFA") announced today that it is extending the early participation date
("Early Tender Deadline"), the expiration time ("Expiration Time") and certain
other dates in connection with its previously announced invitation to purchase
for cash certain of its outstanding debt securities (the "Bonds") upon the
terms and subject to the conditions set forth in IHFA's Invitation to
Bondholders dated May 13, 2009, as amended (the "Invitation"). The Early
Tender Deadline was previously 5:00 p.m., New York City time, on May 29, 2009
and is being extended until 5:00 p.m.New York City time, on June 5, 2009.The
Expiration Time was previously 5:00 p.m., New York City time, on June 5, 2009
and is being extended until 5:00 p.m.New York City time, on June 12, 2009.
The settlement date was previously June 24, 2009 and is being extended until
July 8, 2009. Except for the extension of dates, all other terms and
conditions of the Invitation remain unchanged.

The offer will expire at 5:00 p.m.New York City time on June 12, 2009, unless
extended or earlier terminated, in either case, by IHFA in its sole
discretion. Bondholders who validly tender and do not withdraw their bonds on
or prior to 5:00 p.m., New York City time, on June 5, 2009 will be eligible to
receive a Premium Purchase Price. Bondholders wishing to sell must follow the
instructions set forth in the Invitation.

IHFA invites Bondholders to offer to sell their Bonds, upon the terms and
subject to the conditions set forth the Invitation, at purchase prices to be
determined by a modified Dutch Auction. Under the modified Dutch Auction, IHFA
will consider offers to sell Bonds of each series and maturity in the order of
highest to lowest spreads specified by Bondholders above MMD yields and will,
in its sole discretion, select a single spread for each maturity of each
series to be accepted (the "Clearing Spread"). IHFA will determine the
purchase price for each series and maturity of Bonds based on a yield (the
"Tender Offer Yield") equal to the applicable MMD yield on the pricing date
plus the Clearing Spread. Bondholders who tender and do not withdraw their
offers prior to the Early Tender Deadline will receive a Premium Purchase
Price determined using the applicable Tender Offer Yield less five (5) basis
points.

The offer is made upon the terms and subject to the conditions set forth in
the Invitation. Copies of the Invitation including the amendment can be
obtained from D.F. King & Co., Inc., the Depositary and Information Agent,
toll free at (800) 967-4612 and at www.dfking.com/ihfa.

Barclays Capital is the Dealer Manager for the offer. Questions concerning the
terms of the offer may be directed to Barclays Capital toll-free at (800)
438-3242 or collect at (212) 528-7581.

This news release is neither an offer to purchase nor a solicitation of an
offer to sell Bonds. The offer is made solely by IHFA's Invitation dated May
13, 2009, as amended. The offer is not being made to holders in any
jurisdiction in which the making or acceptance thereof would not be in
compliance with the Bonds, blue sky or other laws of such jurisdiction. In any
jurisdiction in which the offer is required to be made by a licensed broker or
dealer, it shall be deemed to be made on behalf of IHFA by the Dealer Manager.

Neither IHFA, the Dealer Manager, or the Depositary and Information Agent
makes any recommendation as to whether or not holders should sell Bonds
pursuant to the Invitation, and no one has been authorized by any of them to
make such a recommendation. Holders must make their own decisions as to
whether to sell Bonds, and if so, the principal amount of Bonds to sell.

SOURCE Idaho Housing and Finance Association

Tom Long of D.F. King & Co., Inc., +1-212-269-5550