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Press Release

News Release - Fannie Mae Prices $1.0 Billion of Benchmark REMIC Trust 2007-B1

March 22, 2007


Jason Lobo


WASHINGTON, DC -- Fannie Mae (FNM/NYSE) today priced $1.0 billion of Benchmark REMIC™ Trust 2007-B1, Class BE CUSIP 31396P6D8, a Guaranteed Maturity Class (GMC) with a class coupon of 5.45 percent and a final maturity date of December 28, 2020. The GMC issue priced at 99-29 1/4 to yield 5.428 percent, or +97 basis points over the interpolated Treasury curve. Settlement is scheduled for March 27, 2007.

Citigroup Global Markets Inc., Greenwich Capital Markets Inc., and J.P. Morgan Securities Inc. served as the lead underwriters for Benchmark REMIC Trust 2007-B1 BE. Co-managers of the transaction were Banc of America Securities LLC, Lehman Brothers Inc., and Merrill Lynch, Pierce, Fenner & Smith Incorporated. Information about the Benchmark REMIC Trust 2007-B1, of which the GMC is a part, is available in the prospectus supplement on the Prospectus and Related Documents page of the company's Web site at:

Fannie Mae is a New York Stock Exchange Company. It operates pursuant to a federal charter. Fannie Mae has pledged through its American Dream Commitment to expand access to homeownership for millions of first-time home buyers; help raise the minority homeownership rate to 55 percent; make homeownership and rental housing a success for millions of families at risk of losing their homes; and expand the supply of affordable housing where it is needed most. More information about Fannie Mae can be found on the Internet at

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 disclosure documentation for Benchmark REMIC Trust 2007-B1 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.

Benchmark Notes is a registered mark and Benchmark REMIC is a trademark of Fannie Mae. Unauthorized use of these marks is prohibited.