TIMOTHY BITSBERGER TO JOIN FREDDIE MAC AS TREASURER AND SENIOR VICE PRESIDENT, FUNDING AND INVESTOR RELATIONS

McLean, VA – Timothy Bitsberger, a former senior U.S. Treasury Department official and Wall Street veteran, will join Freddie Mac [NYSE:FRE] as treasurer and senior vice president, Funding and Investor Relations. Bitsberger will report directly to Patricia Cook, executive vice president, Investments and Capital Markets.

"We're delighted that Tim is taking a leadership role with Freddie Mac's senior management team," said Richard F. Syron, Freddie Mac chairman and chief executive officer. "Together with Patti Cook and the rest of her team, Tim provides us unparalleled capital markets expertise."

"I'm thrilled to have Tim joining our team," said Cook. "He has extensive capital markets and public policy experience and relationships, and brings a superb understanding of the role our funding programs play in attracting investors globally to provide low-cost funding to American homeowners."

At Freddie Mac, Bitsberger will be responsible for the company's debt- and mortgage-funding programs, as well as equity, debt and mortgage securities investor relations. He will join the company in January 2006.

For the past year until his recent departure, Bitsberger served as assistant secretary for financial markets at the U.S. Department of the Treasury. In this presidentially appointed post, which required confirmation by the U.S. Senate, Bitsberger led the Office of Financial Markets. He advised the undersecretary for domestic finance on policy and legislation regarding federal debt management, state and local finance, financial market oversight and regulation, federal credit and privatization. Under his leadership, improvements in debt management, due to increased transparency, resulted in enhanced relationships with all market participants.

In addition, Bitsberger served as a board member on the Airline Transportation Stabilization Board and as a board representative to the Pension Benefit Guaranty Corporation. Previously, he served as deputy assistant secretary for federal finance at the U.S. Treasury for three years, providing policy recommendations on federal financial market issues and assessing the impact of those policies on industries and markets.

Prior to his appointments to Treasury, Bitsberger worked on Wall Street for more than 15 years, most recently as a senior vice president of Investments at Salomon Smith Barney. He also consulted for J.F. Lehman & Company, a leveraged buyout firm.

From 1989 to 1998, Bitsberger was a senior trading manager and vice president for NationsBanc Capital Markets. He began his career as a trader for Drexel Burnham Lambert.

Bitsberger earned a bachelor's degree in economics at Yale University, and a masters in business administration from Harvard University. He is married and has five-year old twins.

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 nearly four million renters in America.

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