Fannie Mae Reports First-Quarter 2010 Results

WASHINGTON, May 10, 2010 - Fannie Mae (NYSE: FNM) today reported its first-quarter 2010 results and
filed its quarterly report on Form 10-Q with the Securities and Exchange
Commission. The filing provides condensed consolidated financial statements
for the first quarter of 2010. The following documents are now available on
Fannie Mae's Web site at www.fanniemae.com:

    -- News Release reporting first-quarter 2010 financial results
    -- Fannie Mae's quarterly report on Form 10-Q for the quarter ended
       March 31, 2010
    -- Impact of New Accounting Standards: Overview and FAQ
    -- First-Quarter 2010 Credit Supplement

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.

Todd Davenport of Fannie Mae, +1-202-752-5115