On April 19, 2004, the Federal Home Loan Bank
of Boston implemented a new capital structure and stock-investment
rules to comply with the Gramm-Leach-Bliley Act of 1999 and
regulations that were subsequently promulgated in 2001 by
the Bank's regulator, the Federal Housing Finance Board.
Please contact Frank Nitkiewicz, executive
vice president and chief financial officer,
at 617-292-9624; or Carol H. Pratt, senior vice president
and general counsel, at 617-292-9660, with any questions.