Fannie Mae Prices New Issue 2-Year Benchmark Notes(R) due June 22, 2012

WASHINGTON, April 15, 2010 - The following is being issued by Fannie Mae (NYSE: FNM):

                    2-Year
    Pricing Date    April 15, 2010
    Settlement Date April 19, 2010
    Maturity Date   June 22, 2012
    Issue Size      US$4 billion
    Coupon          1.250%
    Price           99.887
    Yield           1.303%
    Payment Dates   Each June 22nd and December 22nd, beginning June 22, 2010
    Spread          +25 basis points / 1.000%  03/31/12 U.S. Treasury
    CUSIP           31398AP71
    Listing         Application will be made to list the securities on
                    the EuroMTF market of the Luxembourg Stock Exchange

Barclays Capital Inc., Citigroup Global Markets Inc., and UBS Securities
LLC are the joint lead managers. The co-managers include, Banc of America
Securities, Credit Suisse Securities (USA) LLC, Daiwa Capital Markets America
Inc., FTN Financial Capital Markets, Loop Capital Markets, and J.P. Morgan &
Co.

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, Fannie Mae, +1-202-752-5403