FREDDIE MAC ANNOUNCES TENDER OFFER

McLean, VA – Freddie Mac (NYSE: FRE) today announced that it will conduct cash tender offers for the repurchase of a targeted group of European-style callable debt securities with expired options during the week of April 24, 2006.

Freddie Mac will offer to repurchase any and all outstanding amounts of the selected targeted securities from investors through Morgan Stanley, the designated lead manager for the offers, or through J.P. Morgan Chase and UBS Investment Bank, the designated co-dealer managers for the offers. Each eligible security will be repurchased at a fixed spread to an outstanding Freddie Mac Reference Notes® security.  Additional details on the transaction will be available next week.

This announcement is neither an offer to sell nor a solicitation of offers to buy any of these securities. Neither Freddie Mac, nor the lead manager and global coordinator, nor the co-dealer managers makes any recommendation that any holder of the securities tender or refrain from tendering all or any portion of the principal amount of such holder's securities. Holders must make their own decisions whether to tender securities, and if so, decide on the principal amount of securities to tender. Freddie Mac's securities are obligations of Freddie Mac only. The securities, including any interest or return of discount on the securities, are not guaranteed by and are neither debts nor obligations of the United States or any federal agency or instrumentality other than Freddie Mac. The tender offers are being made only upon the terms and subject to the conditions set forth in the Offer to Purchase dated April 24, 2006.

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 more than four million renters in America.

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