Fannie Mae Redemption

WASHINGTON, February 15, 2011 - 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
       Amount      Type     Rate                                  Date
                                    February 25,               February 25,
     $50,000,000   MTN    5.000%        2020        3136F84B8     2011
                                    February 25,               February 25,
     $25,000,000   MTN    4.350%        2016        3136F85H4     2011
                                    February 25,               February 25,
     $25,000,000   MTN    4.150%        2015        3136F85N1     2011
                                    February 25,               February 25,
     $15,000,000   MTN    4.000%        2019        3136F97L1     2011
                                    February 25,               February 25,
     $20,000,000   MTN    2.760%        2013        3136FHAF2     2011
                                    February 25,               February 25,
    $100,000,000   MTN    2.250%        2014        3136FHBY0     2011
                                    February 25,               February 25,
     $90,000,000   MTNR   2.000%        2020        3136FJ3R0     2011
                                    February 25,               February 25,
     $50,000,000   MTN    3.330%        2016        3136FJ4K4     2011
                                    February 25,               February 25,
     $50,000,000   MTN    1.250%        2015        3136FJ6G1     2011
                                    February 25,               February 25,
     $50,000,000   MTN    2.250%        2020        3136FJ7C9     2011
                                    February 25,               February 25,
     $75,000,000   MTN    1.000%        2013        3136FJ7F2     2011
                                     August 25,                February 25,
     $51,000,000   MTN    3.100%        2015        3136FJ7H8     2011
                                     August 25,                February 25,
     $75,000,000   MTN    3.050%        2015        3136FMAQ7     2011
                                     August 25,                February 25,
     $75,000,000   MTN    3.020%        2015        3136FMCH5     2011
                                    February 25,               February 25,
    $250,000,000   MTN    1.050%        2013        31398A2N1     2011

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