February 7, 2005 - President's Budget Proposal: The President's FY 2006 Budget proposed the dissolution of the Bank. FY2006 Budget for USDA (go to page 9 to read about dissolution)

March 11, 2005 - Special Board Meeting: A special meeting of the Board was held to discuss the possibility of dissolving the Bank. Minutes

August 4, 2005 - Board Approved Dissolution of the Rural Telephone Bank: At its meeting on August 4, 2005, the Board of Directors of the Rural Telephone Bank approved resolutions for dissolution of the Bank. Resolutions

November 10, 2005 - FY2006 Agriculture Appropriations Bill Signed: On November 10, President Bush signed the Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act for FY2006 (Public Law 109-97). Section 778 of the Act permitted the retirement of more than 5 percent of the Class A stock of the Bank in the event of the Bank's dissolution. FY2006 Appropriations Act

January 10, 2006 - Stock Redemption Agreements Shipped: On January 10, the Bank began shipping Stock Redemption Agreements to its shareholders.

April 10, 2006 - Class A Stock Redeemed: On April 10, the Bank paid the Government par value for all of its outstanding Class A stock. The Class A stock was redeemed for cash and the present value of the Liquidating Account loan portfolio transferred to the Government under the terms of the Loan Transfer Agreement dated August 4, 2005.

April 11, 2006 - Class B and Class C Stock Redeemed: On April 11, the Bank began redeeming Class B and Class C stock at par for shareholders who had submitted properly executed Stock Redemption Agreements and supporting papers to the Bank. The first group to be paid included 630 shareholders with stock holdings totaling more than $1.28 billion, approximately 90% of the private equity in the Bank.

September 30, 2006 - Redemption of Bank stock completed: The Bank completed the first phase of its dissolution. All 737 private shareholders of the Bank received their stock redemption payments, which totaled more than $1.43 billion.

November 13, 2007 - Final dissolution payment made to Class A and B Stockholders: On November 13, 2007, the Bank paid out approximately $39.69 million to its Class A (Government) and Class B (Private) Stockholders as the final distribution to complete its dissolution. The final payment amount was approximately 4.435 cents per share.

February 11, 2008 - Final Meeting of Bank Board: A final meeting of the Bank's last Board of Directors was held to mark the completion of the dissolution of the Bank.