Fannie Mae to sell $2 billion bills Wednesday

NEW YORK, Sept 22 (Reuters) - Fannie Mae (FNM.P) said on Monday it plans to sell $1 billion of three-month benchmark bills due Dec. 24, 2008, and $1 billion of six-month bills due March 25, 2009, on Wednesday, Sept. 24, in a Dutch auction.

In such uniform price auctions, successful bidders pay only the price of the lowest accepted bid rather than the actual price as in a conventional multiple-price auction.

Bids will be accepted from authorized dealers from 9:00 a.m. (1300 GMT), until 9:45 a.m. (1345 GMT).

Settlement is Sept. 24-25.