Fannie Mae Announces 2011 Benchmark Securities(R) Issuance Calendar

WASHINGTON, November 10, 2010 - Fannie Mae (OTC Bulletin Board: FNMA) today announced its 2011 Benchmark
Securities(R) issuance calendar (PDF). The calendar is designed to assist
investors and other market participants in incorporating issuances of Fannie
Mae Benchmark Securities into their ongoing investing, trading, hedging and
financing strategies.

On a weekly basis, Fannie Mae has the option to auction three-,
six-month, and one-year Benchmark Bills. The size and types of weekly
Benchmark Bills offerings, if any, will be announced on a Monday morning, or
if Monday is a holiday, the previous business day. Auctions of Benchmark
Bills generally will be open for bidding on Wednesdays between 9:00 a.m. and
9:45 a.m. eastern time.

The 2011 Benchmark Securities Calendar also identifies at least one
calendar date per month for a Benchmark Notes announcement. On each scheduled
announcement date, Fannie Mae will either announce the maturity date of the
Benchmark Notes offerings or announce that it will not be making any
Benchmark Notes offerings. Benchmark Notes offerings are expected to price
within a few business days of the announcement date.

Fannie Mae may forego any scheduled Benchmark Bills or Benchmark Notes
issuance. If Fannie Mae elects not to issue any Benchmark Securities, a
notice of this election will be provided.

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.

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 the applicable Fannie Mae Offering Circular, and no reliance may
be placed on the completeness or accuracy of the information contained in
this press release.

Todd Davenport, Fannie Mae, +1-202-752-5115, or Resource Center, +1-800-732-6643