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Press Release

Fannie Mae Benchmark Buyback

August 2, 2001


Lesia Bullock


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 Securities issues.


Coupon Maturity Date CUSIP Settlement Date of Repurchase Amount Repurchased Current Amount Outstanding
5.250% January 15, 2003 31359MDF7 August 3, 2001 0 $3.800 billion
5.000% February 14, 2003 31359MHA4 August 3, 2001 0 $5.300 billion
5.750% April 15, 2003 31359MDT7 August 3, 2001 0 $8.950 billion
5.125% February 13, 2004 31359MEM1 August 3, 2001 $2.000 billion $10.670 billion
      Total Repurchased $2.000 billion  


This announcement 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 $3.0 trillion of mortgage financing for 38 million families.

Benchmark Securities is a service mark of Fannie Mae. Unauthorized use of this mark 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."