Fannie Mae Prices New Issue 3-Year Benchmark Notes(R) due June 26, 2013

WASHINGTON, May 19, 2010 - The following is being issued by Fannie Mae (NYSE: FNM):

                      3-Year
    Pricing Date      May 19, 2010
    Settlement Date   May 21, 2010
    Maturity Date     June 26, 2013
    Issue Size        US$3.5 billion
    Coupon            1.500%
    Price             99.982
    Yield             1.506%
    Payment Dates     Each June 26th and December 26th, beginning
                       June 26, 2010
    Spread            +27 basis points / 1.375%  05/15/13 U.S. Treasury
    CUSIP             31398AT44
    -----             ---------
    Listing           Application will be made to list the securities on the
                       EuroMTF market of the Luxembourg Stock Exchange
    -------           ---------------------------------------------------

Barclays Capital Inc., Deutsche Bank Securities Inc., and J.P. Morgan &
Co. are the joint lead managers. The co-managers include, Alamo Capital,
Citigroup Global Markets Inc., Goldman Sachs & Co., Guzman & Company,
Jefferies & Company, Inc., and UBS Securities LLC.

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, +1-202-752-5403