Fannie Mae Redemption

WASHINGTON, April 22, 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
     $13,316,000   FINP    5.100%    May 2, 2023   3135A1FY8  May 2, 2011
     $50,000,000   MTN     5.000%    May 2, 2018   3136F9MQ3  May 2, 2011
     $25,000,000   MTN     4.930%    May 2, 2018   3136F9NY5  May 2, 2011
     $50,000,000   MTN     0.750%     August 2,    3136FM3L6  May 2, 2011
                                       2013
     $40,000,000   MTN     3.000%     November 4,  3136FHMB8  May 4, 2011
                                       2014
     $20,000,000   MTN     4.250%     November 4,  3136FHMF9  May 4, 2011
                                       2016
    $100,000,000   MTN     1.875%     August 4,    3136FM2C7  May 4, 2011
                                       2015
     $50,000,000   MTN     0.750%     February 4,  3136FM4P6  May 4, 2011
                                       2014
     $50,000,000   MTN     2.250%    May 4, 2020   3136FMML5  May 4, 2011
     $50,000,000   MTN     3.380%     November 4,  3136FMPE8  May 4, 2011
                                       2016
     $50,000,000   MTN     3.000%    May 4, 2017   3136FMSZ8  May 4, 2011
    $100,000,000   MTN     2.000%    May 5, 2015   3136FM3U6  May 5, 2011
    $250,000,000   MTN     2.800%    May 5, 2014   31398AXB3  May 5, 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