Board of Directors

As of September 17, 2007

Richard F. Syron
Chairman and Chief Executive Officer
Freddie Mac
McLean, VA

Barbara T. Alexander*
Independent Consultant
Monarch Beach, CA

Geoffrey T. Boisi*
Chairman and Chief Executive Officer
Roundtable Investment Partners LLC
New York, NY

Michelle Engler*
Trustee
JNL Investor Series Trust and JNL Series Trust
and Member of Board of Managers
JNL Variable Fund L.L.C.
Lansing, MI

Robert R. Glauber*
Retired Chairman and Chief Executive Officer
National Association of Securities Dealers, Inc.
Washington, DC

Richard Karl Goeltz*
Retired Vice Chairman and Chief Financial Officer
American Express Company
New York, NY

Thomas S. Johnson*
Retired Chairman and Chief Executive Officer
GreenPoint Financial Corporation
New York, NY

William M. Lewis, Jr.*
Managing Director and Co-Chairman of Investment Banking
Lazard Ltd
New York, NY

Shaun F. O'Malley* (Lead Director)
Chairman Emeritus
Price Waterhouse LLP
Philadelphia, PA

Nicolas P. Retsinas*
Director
Harvard University Joint Center for Housing Studies
Cambridge, MA

Stephen A. Ross*
Franco Modigliani Professor of Financial Economics
Massachusetts Institute of Technology
Cambridge, MA

*The Outside Directors have determined that these Directors are independent under the criteria set forth in Freddie Mac's Corporate Governance Guidelines.