$1 BILLION IN CREDIT GUARANTEES AVAILABLE FOR SOUTHEAST ASIA

                                            Release No. 0002.98
                                                               
                                    Tom Amontree (202) 720-4623
                                             tamontree@usda.gov
                                  Carolyn Harris (202) 690-1851
                                           harrisc@fas.usda.gov

$1 BILLION IN CREDIT GUARANTEES AVAILABLE FOR SOUTHEAST ASIA

     WASHINGTON, Jan. 5, 1998--Agriculture Secretary Dan Glickman today
announced a $545-million increase in credit guarantees for the Philippines,
Indonesia, Malaysia, Thailand, and Singapore to make it easier for buyers in
these countries to import U.S. agricultural commodities and products.  As a
result, more than $1 billion in credit guarantees are now available to these
countries.  

     "Today's increase in guarantees will help maintain the competitiveness
of U.S. agricultural exports to the Southeast Asian region," said Glickman. 
"Buyers in these markets purchased more than $3 billion in U.S. agricultural
goods in 1997, and we want to ensure that our future sales remain strong."   

     As part of today's action, USDA's Foreign Agricultural Service has
issued five announcements specifying allocations to these Southeast Asian
countries under the Export Credit Guarantee Program (GSM-102) and the
Supplier Credit Guarantee Program (SCGP).  These announcements authorize
credit guarantees that double the amount of allocations previously announced
for Southeast Asian countries.  Today's action extends a new $100-million
GSM-102 guarantee program to Malaysia.  In addition, it expands commodity
coverage under the SCGP to include bulk commodities.

     USDA implemented the new Facility Guarantee Program (FGP) December 3,
making $40 million in guarantees available to Southeast Asia to stimulate
the creation or improvement of facilities that will benefit U.S.
agricultural exports.  Guarantees under the FGP can be used, for example, to
improve the storage capacity of grain handling facilities that store
primarily U.S. grain or cold storage facilities that refrigerate primarily
U.S. fruits, vegetables, and meat.  

     USDA announced Intermediate Export Credit Guarantee Programs (GSM-103)
for the Philippines and Indonesia on October 21, making available credit
guarantees of $2 million and $10 million, respectively, to encourage sales
of U.S. breeder livestock.  

     The following table summarizes allocations to countries in Southeast
Asia.

     Country/Region                Guarantee Allocation
     Indonesia                            $410 million
        GSM-102                           $400 million
        GSM-103                           $ 10 million
     Malaysia                             $100 million
        GSM-102                           $100 million
     Philippines                          $102 million
        GSM-102                           $100 million
        GSM-103                           $  2 million
     Thailand                             $300 million
        GSM-102                           $300 million
     Southeast Asia Region                $ 90 million
        SCGP (includes Singapore)         $ 50 million
        FGP                               $ 40 million
     
          TOTAL                         $1.002 billion 

                                
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