FREDDIE MAC ANNOUNCES RESULTS OF MULTIPLE USD REFERENCE NOTES® REPURCHASE OPERATION

McLean, VA – Freddie Mac (NYSE: FRE) today announced results of its Reference Notes^® securities repurchase operation, which closed today at 11 a.m. EST. Freddie Mac repurchased a total of $920 million of the following Reference Notes securities:

CUSIP	Coupon	Maturity	Amount Repurchased (USD millions)	Amount Outstanding (USD millions)
3134A33L8	7.00%	3/15/2010	$250	$5,460
3134A4JT2	5.75%	1/15/2012	$240	$6,435
3134A4UK8	4.88%	11/15/2013	$200	$3,800
3134A4UM4	4.50%	1/15/2014	$120	$5,170
3134A4AA2	6.75%	3/15/2031	$110	$2,978

The overall offer-to-cover ratio was 4.50 to 1. Settlement for all issues will be on Thursday, December 16, 2004.

This announcement is neither an offer to sell nor a solicitation of offers to buy any of these securities. Any such offering will be made only by applicable offering materials. Grant Street Group, parent of MuniAuction, Pittsburgh, PA provides services and technology relating to the repurchase operations.

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 in America.

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