Filed Under Rule 424(b)(3), Registration Statement No. 333-155631
Pricing Supplement Number 228 Dated June 13, 2011
(To: Prospectus Dated November 24, 2008 and Prospectus Supplement Dated November 26, 2008)


CUSIP Number

Principal Amount

Selling Price

Gross Concession

Net Proceeds

Coupon Type

Coupon Rate

Coupon Frequency

Maturity Date

1st Coupon Date

1st Coupon Amount

Survivor's Option

Product Ranking

63743FMY9

[]

100.000%

1.450%

[]

Fixed

3.000%

SEMI-ANNUAL

06/15/2018

12/15/2011

$14.33

Yes

Senior Unsecured Notes

Redemption Information: Non-Callable






 
  National Rural Utilities Cooperative Finance Corp Offering Dates: Monday, June 13, 2011 through Monday, June 20, 2011
Trade Date: Monday, June 20, 2011 @12:00 PM ET
Settlement Date: Thursday, June 23, 2011
Minimum Denomination/Increments:$1,000.00/$1,000.00
Initial trades settle flat and clear SDFS: DTC Book Entry only
DTC number: 0235 via RBC Dain Rauscher Inc. Agents: Banc of America Securities LLC, Charles Schwab & Co., Comerica Securities, Edward D. Jones & Co., L.P., Incapital, LLC, J.J.B. Hilliard, W.L. Lyons, Inc., Merrill Lynch & Co., Morgan Stanley, UBS Securities LLC If the maturity date or an interest payment date for any note is not a Business Day (as term is defined in Prospectus), principal, premium, if any, and interest for that note is paid on the next Business Day, and no interest will accrue from, and after, the maturity date or interest payment date.  
 
InterNotes® is a registered trademark of Incapital Holdings, LLC. All rights reserved.
 National Rural Utilities Cooperative Finance Corp InterNotes Prospectus Dated November 24, 2008