Fannie Mae Announces Auction Results for Reopening of 5-Year Benchmark Notes(R)

WASHINGTON, December 16 - The following is being issued by Fannie Mae (NYSE: FNM):

                          5-Year (Reopening)

    Pricing Date          December 16, 2009
    Settlement Date       December 18, 2009
    Maturity Date         November 20, 2014
    Reopen Size           US$1 billion
    Current Outstanding   US$4.5 billion
    Coupon                2.625%
    Price                 100.454
    Yield                 2.526%
    Payment Dates         Each November 20th and May 20th
    CUSIP                 31398AZV7
    Listing               Application will be made to list the securities on
                          the EuroMTF market of the Luxembourg Stock Exchange

Fannie Mae is a shareholder-owned company with a public mission. We exist
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.

Derek Lowe of Fannie Mae, +1-202-752-2110