Fannie Mae Redemption

WASHINGTON, November 16, 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                               Redemption
       Amount      Type     Rate     Maturity Date      CUSIP       Date
                                                                 November 26,
     $30,000,000   MTN     4.050%  November 26, 2013  3136F9Q89      2010
                                                                 November 26,
    $100,000,000   MTN     1.500%  November 26, 2012  3136FHUE3      2010
                                                                 November 26,
    $110,000,000   MTN     1.550%  November 26, 2012  3136FJ6H9      2010
                                                                 November 26,
     $75,000,000   MTN     1.600%  November 26, 2012  3136FJ6V8      2010
                                                                 November 26,
     $15,000,000   MTN     5.000%  November 26, 2029  3136FJRL7      2010
                                                                 November 26,
     $15,000,000   MTN     4.450%  November 26, 2019  3136FJSB8      2010
                                                                 November 26,
    $100,000,000   MTN     2.715%  November 26, 2014  3136FJVT5      2010
                                                                 November 26,
    $205,000,000   MTNR    2.500%     May 26, 2015    3136FMRJ5      2010
                                                                 November 26,
     $50,000,000   MTNR    4.000%     May 26, 2020    3136FMRT3      2010
                                                                 November 26,
     $50,000,000   MTN     7.125%     May 26, 2015    3136FMRX4      2010
                                                                 November 26,
    $200,000,000   MTN     2.250%     May 26, 2015    3136FMSH8      2010
                                                                 November 26,
     $50,000,000   MTN     2.125%     May 26, 2015    3136FMSP0      2010
                                                                 November 26,
     $50,000,000   MTN     2.000%     May 26, 2020    3136FMSV7      2010
                                                                 November 26,
     $50,000,000   MTN     4.000%  November 26, 2018  3136FMTD6      2010
                                                                 November 26,
     $75,000,000   MTN     2.000%     May 26, 2020    3136FMTF1      2010
                                                                 November 26,
     $50,000,000   MTN     3.000%     May 26, 2015    3136FMTK0      2010
                                                                 November 26,
     $50,000,000   MTN     2.250%     May 26, 2020    3136FMTM6      2010
                                                                 November 26,
     $50,000,000   MTNR    2.000%     May 26, 2020    3136FMTN4      2010
                                                                 November 26,
    $100,000,000   MTN     4.125%     May 26, 2022    3136FMTP9      2010
                                                                 November 26,
    $250,000,000   MTN     2.000%  November 26, 2013  3136FMTR5      2010
                                                                 November 26,
     $50,000,000   MTN     2.125%     May 26, 2020    3136FMTS3      2010
                                                                 November 26,
    $375,000,000   MTN     3.000%  November 26, 2018  3136FMUB8      2010
                                                                 November 26,
     $50,000,000   MTN     2.250%     May 26, 2017    3136FMUC6      2010
                                                                 November 26,
    $100,000,000   MTN     1.400%  November 26, 2012  3136FMUG7      2010
                                                                 November 26,
     $50,000,000   MTN     3.000%     May 26, 2020    3136FMUT9      2010
                                                                 November 26,
    $100,000,000   MTN     1.000%  November 26, 2013  3136FMVT8      2010
                                                                 November 26,
     $50,000,000   MTN     1.500%     May 26, 2015    3136FMWJ9      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, Fannie Mae, +1-202-752-5403