Fannie Mae Announces Auction (Reopening) of 2-Year Benchmark Notes(R) due June 22, 2012

WASHINGTON, April 29, 2010 - The following is being issued by Fannie Mae (NYSE: FNM):

                            2-Year (Reopening)
    Pricing/Auction Date    April 29, 2010
    Settlement Date         May 3, 2010
    Maturity Date           June 22, 2012
    Issue Size/Reopen Size  US$1 billion
    Current Outstanding     US$4 billion
    Coupon                  1.250%
    Payment Dates           Each June 22nd and December 22nd, beginning
                             June 22, 2010
    CUSIP                   31398AP71
    Listing                 Application will be made to list the securities
                             on the EuroMTF market of the Luxembourg Stock
                             Exchange
    Auction Time            10:30 a.m. - 11:00 a.m. EDT

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 Fannie Mae's applicable Offering Circular, 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 of Fannie Mae. Unauthorized use of
this mark is prohibited.

Katherine Constantinou of Fannie Mae, +1-202-752-5403