News Release - Fannie Mae Reports First Quarter 2008 Results; Announces Equity Offering to Increase Capital and an Expected Reduction in Common Stock Dividend; Company Hosts Investor/Analyst Conference Call | Fannie Mae

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News Release

May 06, 2008

Fannie Mae Reports First Quarter 2008 Results; Announces Equity Offering to Increase Capital and an Expected Reduction in Common Stock Dividend; Company Hosts Investor/Analyst Conference Call

Janis Smith

202-752-6673

Jason Lobo

202-752-1692

WASHINGTON, DC -- Fannie Mae (FNM/NYSE) today filed its first quarter report on Form 10-Q with the U.S. Securities and Exchange Commission. The filing provides consolidated financial statements for the first quarter of 2008. The following documents are now available on Fannie Mae's Web site:

At 10:30 a.m. Eastern Time, today, Fannie Mae will host a conference call for the investment community to discuss the filing. Mary Lou Christy, Senior Vice President, Investor Relations, will host the call. Daniel Mudd, President and Chief Executive Officer, Stephen Swad, Executive Vice President and Chief Financial Officer, and Robert Levin, Executive Vice President and Chief Business Officer, will address investors and analysts. They, along with other members of senior management, will be available for questions. The dial-in number for the call is 1-877-209-9922 or, for international callers, 612-332-0932. The confirmation code is 920753. Please dial in five to 10 minutes prior to the start of the call. A replay of the call will be available for 30 days starting at 1:00 p.m. Eastern Time on May 6 through midnight Eastern Time on June 3. The replay number for the call is 1-800-475-6701 or, for international callers, 320-365-3844. The confirmation code is 920753.

The conference call will also be Webcast at www.fanniemae.com and will be available for 30 days after the call.

Fannie Mae is a shareholder-owned company with a public mission. We exist to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to ensure that mortgage bankers and other lenders have enough funds to lend to home buyers at low rates. In 2008, we mark our 70th year of service to America's housing market. Our job is to help to those who house America.

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