AVAILABLE INFORMATION You should purchase the securities only if you have read and understood the following documents: • this Offering Circular Supplement (this “Supplement”), • the Base Offering Circular for Guaranteed Multifamily REMIC Pass-Through Securities dated as of April 1, 2008 (hereinafter referred to as the “Multifamily Base Offering Circular”) and • Chapter 31 of the Ginnie Mae Mortgage-Backed Securities Guide 5500.3, as amended (the “MBS Guide”). The Multifamily Base Offering Circular and the MBS Guide are available on Ginnie Mae’s website located at http://www.ginniemae.gov. If you do not have access to the internet, call The Bank of New York, which will act as information agent for the Trust, at (800) 234-GNMA, to order copies of the Multifamily Base Offering Circular and the MBS Guide. In addition, you can obtain copies of the disclosure documents related to the Ginnie Mae Multifamily Certificates by contacting The Bank of New York at the telephone number listed above. Please consult the standard abbreviations of Class Types included in the Multifamily Base Offering Circular as Appendix I and the Glossary included in the Multifamily Base Offering Circular as Appendix II for definitions of capitalized terms. TABLE OF CONTENTS Page Terms Sheet . . . . . . . . . . . . . . . . . . . . . . . .           S-3 Risk Factors . . . . . . . . . . . . . . . . . . . . . . . .           S-6 The Ginnie Mae Multifamily Certificates . .         S-8 Ginnie Mae Guaranty . . . . . . . . . . . . . . . .           S-11 Description of the Securities . . . . . . . . . . .          S-12 Yield, Maturity and Prepayment Considerations . . . . . . . . . . . . . . . . . . . .          S-15 Page Certain Federal Income Tax Consequences . . . . . . . . . . . . . . . . . . . .            S-22 ERISA Matters . . . . . . . . . . . . . . . . . . . . . .         S-24 Legal Investment Considerations . . . . . . . .          S-24 Plan of Distribution . . . . . . . . . . . . . . . . . .          S-24 Increase in Size . . . . . . . . . . . . . . . . . . . . .            S-25 Legal Matters  . . . . . . . . . . . . . . . . . . . . . . .         S-25 Exhibit A . . . . . . . . . . . . . . . . . . . . . . . . . .            A-1 S-2