Fannie Mae Redemption

WASHINGTON, May 13, 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
       $30,000,000   MTN    5.760%   May 23, 2033  3136F3SF4  May 23, 2011
       $30,000,000   MTN    2.050%   May 23, 2013  3136FMLM4  May 23, 2011
       $50,000,000   MTN    1.050%   May 23, 2013  3136FPAW7  May 23, 2011
       $50,000,000   MTN    1.050%     August 23,  3136FPCJ4  May 23, 2011
                                         2013
       $50,000,000   MTNR   4.000%   February 24,  3136FJ6J5  May 24, 2011
                                         2020
       $50,000,000   MTN    1.700%   February 24,  3136FPBE6  May 24, 2011
                                         2015
       $50,000,000   MTN    1.550%   November 24,  3136FPD46  May 24, 2011
                                         2014
      $250,000,000   MTN    1.700%   May 24, 2013  31398AT69  May 24, 2011
       $50,000,000   MTN    3.500%   February 25,  3136FJ6X4  May 25, 2011
                                         2020
      $125,000,000   MTN    1.750%    August 25,   3136FM6X7  May 25, 2011
                                         2015
      $100,000,000   MTN    3.050%   November 25,  3136FMSW5  May 25, 2011
                                         2015
      $135,000,000   MTN    0.500%   February 25,  3136FPCW5  May 25, 2011
                                         2013
    $1,500,000,000   MTN    1.300%  May 25, 2012   31398AS37  May 25, 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, +1-202-752-5403