ADVISORY/Fannie Mae Chief Financial Officer to Address Salomon Smith Barney 2003 Global Agency Debt Conference.

Business Editors

ADVISORY...for Thursday (Feb. 27)

--(BUSINESS WIRE)

Fannie Mae (NYSE:FNM
FNM Free National Movement (Bahamas)
FNM Foot and Mouth ):

WHEN:     Thursday, February 27, 2003
          10:00 a.m.

WHO:      Timothy Howard
          Chief Financial Officer, Fannie Mae

WHAT:     Presentation to Salomon Smith Barney 2003 Global Agency Debt
          Conference

WHERE:    This event will be webcast live and will be available on our
          Web site www.fanniemae.com.

          This event is not open to the press.

Fannie Mae is a New York Stock Exchange company and the largest non-bank financial services company in the world. It operates pursuant to a federal charter and is the nation's largest source of financing for home mortgages. Fannie Mae is working to shrink the nation's "homeownership gaps" through a $2 trillion "American Dream Commitment" to increase homeownership rates and serve 18 million targeted American families by the end of the decade. Since 1968, Fannie Mae has provided $4.5 trillion of mortgage financing for more than 49 million families. More information about Fannie Mae can be found on the Internet at http://www.fanniemae.com.

Style Usage: Fannie Mae's Board of Directors has authorized the company to operate as "Fannie Mae," and the company's stock is now listed on the NYSE as "Fannie Mae." In order to facilitate clarity and avoid confusion, news organizations are asked to refer to the company exclusively as "Fannie Mae."