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Press Release

Fannie Mae to Correct October Factor for MBS Pool CL726415 and Fannie Mega Pool CL555678

October 7, 2003

Janis Smith


WASHINGTON, DC – Fannie Mae (FNM/NYSE), the nation's largest source of financing for home mortgages, disclosed today that due to a servicer reporting error, the October factor reported in the October 6 MBS StatsTM file for MBS pool CL726415, a 5.0 percent 30-year fixed rate pool (CUSIP 31402EAQ1), was incorrectly stated as 0.09800664 and has been corrected to 0.97999572. The servicer reporting error also affected the October factor for Fannie Mega® pool CL555678, also a 5.0 percent 30-year fixed rate security (CUSIP 31385XJX6), which was incorrectly stated as 0.94543644 and has been corrected to 0.98222412.


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 over $5.2 trillion of mortgage financing for more than 55 million families.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities of Fannie Mae. Nothing in this press release constitutes advice on the merits of buying or selling a particular investment. Any investment decision as to any purchase of securities referred to herein must be made solely on the basis of information contained in Fannie Mae's MBS Base Prospectus dated April 1, 2003, and related supplements, and that no reliance may be placed on the completeness or accuracy of the information contained in this press release.

You should not deal in securities unless you understand their nature and the extent of your exposure to risk. You should be satisfied that they are suitable for you in the light of your circumstances and financial position. If you are in any doubt you should consult an appropriately qualified financial advisor.

MBS Stats is a trademark and Fannie Mega is a registered trademark 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 "FNM." In order to facilitate clarity and avoid confusion, news organizations are asked to refer to the company exclusively as "Fannie Mae."