FREDDIE MAC ANNOUNCES THAT BOARD OF DIRECTORS MEMBER JOHN B. MCCOY WILL NOT STAND FOR RE-ELECTION

McLean, VA – Freddie Mac (NYSE: FRE) today announced that John B. McCoy will not stand for re-election to the company’s board of directors at the meeting of stockholders on July 15, 2005.

"John has been a stalwart of the Freddie Mac board since 1990," said Richard F. Syron, chairman and CEO. "He has provided wise counsel through thick and thin, and has been a key figure in the organization's turnaround. He is an outstanding human being and a great director who will be sorely missed."

McCoy's decision to not stand for re-election is consistent with the company's plan to engage in an orderly board transition. The plan is being implemented with the approval of the Office of Federal Housing Enterprise Oversight, the company's regulator, which has adopted corporate governance regulations relating to director term limits.

Freddie Mac is a stockholder-owned company established by Congress in 1970 to support homeownership and rental housing. Freddie Mac fulfills its mission by purchasing residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible for one in six homebuyers and two million renters in America.

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