$2,200,000,000
Government National
Mortgage Association
GINNIE MAE®
Guaranteed Stripped Mortgage-Backed Securities
Ginnie Mae SMBS Trust 01
____________________________________________
OFFERING CIRCULAR SUPPLEMENT
July 27, 2004
___________________________________________
Goldman, Sachs & Co.
RBS Greenwich Capital
UBS Investment Bank
Bear, Stearns & Co. Inc.
Deutsche Bank Securities
JPMorgan
Banc of America Securities LLC
Citigroup
Countrywide Securities Corp.
Merrill Lynch & Co.
Morgan Stanley
Credit Suisse First Boston
Nomura
Lehman Brothers
