Fannie Mae Redemption

WASHINGTON, November 30, 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 Date  CUSIP  Redemption Date
       Amount       Type      Rate
                                     December 10,             December 10,
     $25,000,000    MTN      2.000%      2012     3136FHXF7       2010
                                     December 10,             December 10,
     $30,000,000    MTNR     3.000%      2021     3136FJTE1       2010
                                     December 10,             December 10,
     $25,000,000    MTNR     3.000%      2024     3136FJTM3       2010
                                     December 10,             December 10,
     $40,000,000    MTNR     2.000%      2019     3136FJTU5       2010
                                     December 10,             December 10,
     $10,000,000    MTNR     1.650%      2012     3136FJVH1       2010
                                     December 10,             December 10,
     $50,000,000    MTN      1.625%      2012     3136FMCN2       2010
                                                              December 10,
    $105,000,000    MTN      3.000% June 10, 2020 3136FMUQ5       2010
                                     December 10,             December 10,
     $50,000,000    MTN      1.500%      2012     3136FMUU6       2010
                                                              December 10,
    $250,000,000    MTN      1.500% June 10, 2015 3136FMVB7       2010
                                     December 10,             December 10,
     $50,000,000    MTN      3.000%      2015     3136FMVH4       2010
                                                              December 10,
     $50,000,000    MTN      3.500% June 10, 2020 3136FMVK7       2010
                                                              December 10,
     $50,000,000    MTN      2.000% June 10, 2015 3136FMVU5       2010
                                                              December 10,
     $50,000,000    MTN      2.000% June 10, 2015 3136FMWB6       2010
                                     December 10,             December 10,
    $250,000,000    MTN      2.875%      2014     31398AB27       2010
                                     December 10,             December 10,
    $250,000,000    MTN      2.625%      2014     31398AB35       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