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Press Release

Fannie Mae Announces OTC Bulletin Board Symbols

July 7, 2010

Todd Davenport

202-752-5115

WASHINGTON, DC — Fannie Mae (OTC Bulletin Board/FNMA) announced today that its common stock will commence trading on the OTC Bulletin Board under the ticker symbol "FNMA" on Thursday, July 8, 2010. Fannie Mae preferred stock that was previously listed on the New York Stock Exchange also will be traded on the OTC Bulletin Board under the ticker symbols set forth below. The New York Stock Exchange and the Chicago Stock Exchange will suspend trading of Fannie Mae's common and preferred stock prior to the market open on July 8, 2010.

The OTC Bulletin Board is a regulated quotation service that electronically transmits real-time quote, price, and volume information in over-the-counter securities. Information on the OTC Bulletin Board may be obtained at www.otcbb.com. Holders of Fannie Mae common or preferred stock are encouraged to contact their brokers or securities intermediaries directly regarding trading on the OTC Bulletin Board.

Fannie Mae Security Old Ticker Symbol New Ticker Symbol
Common Stock FNM FNMA
Preferred Stock, Series F FNMPRF FNMAP
Preferred Stock, Series G FNMPRG FNMAO
Preferred Stock, Series H FNMPRH FNMAM
Preferred Stock, Series I FNMPRI FNMAG
Preferred Stock, Series L FNMPRL FNMAN
Preferred Stock, Series M FNMPRM FNMAL
Preferred Stock, Series N FNMPRN FNMAK
Preferred Stock, Series P FNMPRP FNMAH
Preferred Stock, Series Q FNMPRQ FNMAI
Preferred Stock, Series R FNMPRR FNMAJ
Preferred Stock, Series S FNMPRS FNMAS
Preferred Stock, Series T FNMPRT FNMAT
Preferred Stock, Series 2008-1 FNA FANIP
Certain statements in this news release may be considered forward-looking statements within the meaning of the federal securities laws, including the expectation that our common stock and series of preferred stock will be delisted by the New York Stock Exchange and Chicago Stock Exchange and that our common and preferred stock will be traded on the OTC Bulletin Board. Although Fannie Mae believes that the expectations set forth in these statements are based upon reasonable assumptions, future conditions and events may differ materially from what is indicated in any forward-looking statements. Factors that could cause actual conditions or events to differ materially from those described in these forward-looking statements include, but are not limited to legislative or other governmental actions relating to our business or the financial markets; our ability to manage our business to a positive net worth; adverse effects from activities we undertake to support the mortgage market and help borrowers; the investment by Treasury and its effect on our business; changes in the structure and regulation of the financial services industry, including government efforts to improve economic conditions; the conservatorship and its effect on our business (including our business strategies and practices); the depth and duration of weakness in the housing market and economic conditions, including the extent of home price declines and unemployment rates; the level and volatility of interest rates and credit spreads; the accuracy of subjective estimates used in critical accounting policies; and other factors described in Fannie Mae's quarterly report on Form10-Q for the quarter ended March31, 2010, and Fannie Mae's annual report on Form10-K for the year ended December31, 2009, including the "Risk Factors" and "Forward-Looking Statements" sections of these reports.

Fannie Mae exists 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 enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. Our job is to help those who house America.