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Press Release

Fannie Mae Announces Benchmark Bonds Buyback Results

June 21, 2002


Jason Lobo


Fannie Mae Announces Benchmark Bonds® Buyback Results

WASHINGTON, DC -- Fannie Mae (FNM/NYSE), the nation's largest source of financing for home mortgages, today announced that it has repurchased the following amounts of outstanding noncallable Benchmark SecuritiesSM issues.


Coupon Maturity Date CUSIP Settlement Date of Repurchase Amount Repurchased Current Amount Outstanding
6.250% May 15, 2029 31359MEU3 June 24, 2002 $175 million $2.750 billion
7.125% January 15, 2030 31359MFJ7 June 24, 2002 $176 million $3.659 billion
7.250% May 15, 2030 31359MFP3 June 24, 2002 $125 million $4.025 billion
      Total Repurchased $476 million  

This announcement is provided only for informational purposes and is neither an offer to buy nor a solicitation of offers to sell any of these securities.

Fannie Mae is a New York Stock Exchange company and the largest non-bank financial services company in the world. It operates pursuant to a federal charter and is the nation's largest source of financing for home mortgages. Fannie Mae is working to shrink the nation's "homeownership gaps" through a $2 trillion "American Dream Commitment" to increase homeownership rates and serve 18 million targeted American families by the end of the decade. Since 1968, Fannie Mae has provided more than $3.8 trillion of mortgage financing for 44 million families.

Benchmark Bond is a registered mark and Benchmark Securities is a service mark of Fannie Mae. Unauthorized use of these marks is prohibited.

Style Usage: Fannie Mae's Board of Directors has authorized the company to operate as "Fannie Mae," and the company's stock is now listed on the NYSE as "Fannie Mae." In order to facilitate clarity and avoid confusion, news organizations are asked to refer to the company exclusively as "Fannie Mae."