2008-08-08 23:49:03 -

www.salliemae.com - SLM Corporation announced that Director A. Alexander Porter, Jr. sold 230,856 shares of SLM common stock on the open market today. Mr. Porter took this action to meet a tax obligation.

After the sale, Mr. Porter has management and voting control over 687,771 SLM shares, holds rights to acquire nearly 326,071 SLM shares and directly owns 3,670

SLM shares.

SLM Corporation (NYSE:SLM), commonly known as Sallie Mae, is the nation's leading provider of saving- and paying-for-college programs. The company manages nearly $172 billion in education loans and serves 10 million student and parent customers. Through its Upromise affiliates, the company also manages more than $19 billion in 529 college-savings plans, and is a major, private source of college funding contributions in America with 9 million members and $425 million in member rewards. Sallie Mae and its subsidiaries offer debt management services as well as business and technical products to a range of business clients, including higher education institutions, student loan guarantors and state and federal agencies. More information is available at www.salliemae.com. SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.

Sallie Mae
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