Fannie Mae Sells $538 Million Multifamily DUS Mega Securities Under its GeMS(TM) Program

WASHINGTON, March 28, 2011 - Fannie Mae (OTC Bulletin Board: FNMA) sold four separate Multifamily Mega
securities totaling $538 million under its Fannie Mae Guaranteed Multifamily
Structures (Fannie Mae GeMS) program on Thursday, March 24, 2011. Structure
details for the four securities are included in the table below.

    Pool
     Number             FN0004          FN0005
    CUSIP             3138NJAE8       3138NJAF5
    Pricing
     Date          March 24, 2011   March 24, 2011
    Settlement
     Date          March 29, 2011   March 29, 2011
    Maturity         December 1,     November 1,
     Date              2020            2020
    Issue Size      $120,171,474     $195,873,306
    Number of
     Underlying
     Securities            25              36
    WAC                  3.63%           3.37%
    WALTV               62.38%          59.02%
    WADSCR               1.67x           2.44x

    Pool
     Number             FN0006          FN0009
    CUSIP             3138NJAG3       3138NJAK4
    Pricing
     Date          March 24, 2011   March 24, 2011
    Settlement
     Date           April 1, 2011   March 29, 2011
    Maturity          November 1,      October 1,
     Date                2020            2020
    Issue Size       $84,312,485     $137,319,314
    Number of
     Underlying
     Securities            12              22
    WAC                  3.42%           3.25%
    WALTV               68.19%          70.79%
    WADSCR               1.49x           1.49x

Billing and delivery for these four Fannie Mae GeMS deals was conducted
by Citigroup. For additional information, please refer to the Fannie Mae GeMS
Megas Term Sheet available on Fannie Mae's Basics of Multifamily MBS
(www.fanniemae.com/mbs/mbsmultifamily/index.jhtml?p=Mortgage-Backed+Securities&s=Basics+of+Multifamily+MBS)
site at www.fanniemae.com.

Certain statements in this release may be considered forward-looking
statements within the meaning of federal securities laws. In addition, not
all securities will have the characteristics discussed in this release.
Before investing in any Fannie Mae issued security, you should read the
prospectus and prospectus supplement pursuant to which such security is
offered. You should also read our most current Annual Report on Form 10-K and
our reports on Form 10- Q and Form 8-K filed with the US Securities and
Exchange Commission ("SEC") available on the Investors page of our Web site
at www.fanniemae.com and on the SEC's Web site at www.sec.gov.

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.

Janis Smith, +1-202-752-2078; Resource Center: 1-800-732-6643