Fannie Mae Redemption.

Business Editors

WASHINGTON--(BUSINESS WIRE)--April 8, 2002

Fannie Mae will redeem the principal amount indicated of the following securities issue on the redemption date 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 CUSIP  Redemption

Amount Type Rate Date Date ---------------------------------------------------------------------- $ 25,000,000 MTN  4.900% April 18, 2003 3136F0FD9 April 18, 2002 ---------------------------------------------------------------------- $ 25,000,000 MTNR 7.200% April 18, 2005 31364KLE8 April 18, 2002 ---------------------------------------------------------------------- $ 15,000,000 MTN 7.250% April 18, 2005 31364KLP3 April 18, 2002 ---------------------------------------------------------------------- $ 25,000,000 MTN 7.300% April 18, 2005 31364KLL2 April 18, 2002 ---------------------------------------------------------------------- $100,000,000 MTN 6.510% April 8, 2009 31364GD48 April 18, 2002 ---------------------------------------------------------------------- $150,000,000 MTN 6.470% April 15, 2009 31364GE70 April 18, 2002 ---------------------------------------------------------------------- $100,000,000 MTN 5.125% April 19, 2004 3136F0EY4 April 19, 2002 ---------------------------------------------------------------------- $ 25,000,000 MTN 5.210% April 19, 2004 3136F0FJ6 April 19, 2002 ---------------------------------------------------------------------- $300,000,000 MTN 5.220% April 19, 2004 3136F0DG4 April 19, 2002 ---------------------------------------------------------------------- $200,000,000 MTN 5.230% April 19, 2004 3136F0FP2 April 19, 2002 ---------------------------------------------------------------------- $ 25,000,000 MTN 7.250% April 19, 2004 31364KLU2 April 19, 2002 ---------------------------------------------------------------------- $ 25,000,000 MTN 7.300% April 19, 2005 31364KLT5 April 19, 2002 ----------------------------------------------------------------------

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 more than $3.6 trillion of mortgage financing for nearly 43 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."