Fannie Mae Redemption

WASHINGTON, November 9, 2010 - Fannie Mae (OTC Bulletin Board: FNMA) will redeem the principal amounts
indicated for the following securities issues on the redemption dates
indicated below at a redemption price equal to 100 percent of the principal
amount redeemed, plus accrued interest thereon to the date of redemption:

    Principal    Security  Interest  Maturity        CUSIP      Redemption
     Amount       Type      Rate      Date                        Date
    $10,000,000    MTN     4.250%  February 19,    3136F86R1    November 19,
                                         2015                         2010
    $50,000,000    MTN     3.080%    August 19,    3136FJ5E7    November 19,
                                         2015                         2010
    $25,000,000    MTN     4.000%       May 19,    3136FJNY3    November 19,
                                         2017                         2010
    $50,000,000    MTN     5.500%  November 19,    3136FJPA3    November 19,
                                         2029                         2010
    $25,000,000    MTN     4.300%  November 19,    3136FJQZ7    November 19,
                                         2019                         2010
    $100,000,000   MTN     0.500%  November 19,    3136FM4Q4    November 19,
                                         2012                         2010
    $250,000,000   MTN     1.000%  November 19,    3136FM6A7    November 19,
                                         2012                         2010
    $50,000,000    MTNR    3.150%  November 19,    3136FMPT5    November 19,
                                         2018                         2010
    $250,000,000   MTN     3.200%  November 19,    3136FMQF4    November 19,
                                         2018                         2010
    $100,000,000   MTN     3.000%       May 19,    3136FMQH0    November 19,
                                         2020                         2010
    $75,000,000    MTN     2.250%  November 19,    3136FMQN7    November 19,
                                         2015                         2010
    $100,000,000   MTN     7.330%       May 19,    3136FMQW7    November 19,
                                         2015                         2010
    $50,000,000    MTN     2.500%       May 19,    3136FMRA4    November 19,
                                         2020                         2010
    $50,000,000    MTN     2.000%       May 19,    3136FMRB2    November 19,
                                         2017                         2010
    $50,000,000    MTN     2.000%       May 19,    3136FMRE6    November 19,
                                         2014                         2010
    $250,000,000   MTN     3.125%       May 19,    3136FMRF3    November 19,
                                         2015                         2010
    $250,000,000   MTN     2.000%       May 19,    3136FMRY2    November 19,
                                         2025                         2010
    $100,000,000   MTN     3.250%       May 19,    3136FMSB1    November 19,
                                         2017                         2010
    $50,000,000    MTN     4.000%       May 19,    3136FMSF2    November 19,
                                         2025                         2010
    $50,000,000    MTN     2.800%  November 19,    3136FMSG0    November 19,
                                         2014                         2010
    $50,000,000    MTN     3.000%       May 19,    3136FMSK1    November 19,
                                         2020                         2010
    $75,000,000    MTN     1.570%  November 19,    3136FMSN5    November 19,
                                         2012                         2010
    $50,000,000    MTN     2.000%       May 19,    3136FMTJ3    November 19,
                                         2015                         2010
    $1,000,000,000 MTN     1.000%  February 19,    31398A2U5    November 19,
                                         2013                         2010
    $500,000,000   MTN     1.250%    August 19,    31398A2V3    November 19,
                                         2013                         2010

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.

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